Driving Profits is filled with valuable information on tax, audit, and other breaking issues facing the automotive-dealership industry. Although we advise that dealerships continue to consult directly with an accounting expert before making any tax or accounting decisions, this newsletter is a great way to keep current.

Driving Profits - As NAFTA Ends, How Will its Replacement Impact the Auto Industry?

Dec 19, 2018

As NAFTA Ends, How Will its Replacement Impact the Auto Industry? The North American Free Trade Agreement (NAFTA) is a trilateral trade agreement between the United States, Canada, and Mexico that was signed on January 1, 1994. On September 30, 2018, ...

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Driving Profits - How Will the Trump Tariffs Impact the Auto Industry?

Sep 17, 2018

How Will the Trump Tariffs Impact the Auto Industry? President Trump has proposed imposing 25 percent tariffs on imported automobiles and automotive parts. The estimated effects of such tariffs would be widespread in the automotive industry as even & ...

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Driving Profits - The Auto Industry and the Rise of Cryptocurrency

Jun 12, 2018

The Auto Industry and the Rise of Cryptocurrency With the rise in use of cryptocurrencies such as Bitcoin and Ether, it is important that auto dealers begin to understand the U.S. tax treatment of cryptocurrencies for balance sheet and compliance pur ...

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Driving Profits - How Will The New Tax Laws Impact Your Dealership?

Mar 7, 2018

How Will The New Tax Laws Impact Your Dealership? While the Tax Cuts and Jobs Act has resulted in a simplification of tax obligations for some tax payers, there are new, added complexities for business owners. Since the 2018 tax season is now upon us ...

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Driving Profits - What Does Every M&A Transaction Have in Common?

Oct 19, 2017

What Does Every M&A Transaction Have in Common? Every sale or purchase of a dealership is unique – or is it? With all the factors that go into any given deal, an initial response to that question, is to say, “Each M&A transaction is as un ...

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Driving Profits - Your Dealership's Hurricane and Disaster Planning Guide 2017

Jun 5, 2017

Your Dealership’s Hurricane and Disaster Planning Guide 2017 Proper preparation is the key to getting through hurricane season, or just about any natural disaster for that matter! Although the 2017 hurricane season has been predicted to be mild ...

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