David Keller - The massive health care legislation, signed into law by President Obama, contains provisions that will affect every employer, but the timing of different pieces of the legislation ranges from items that apply immediately in 2010 to a variety of tax increases that become effective from 2011 to 2018.
David Keller - The computer software system used in your dealership should work for you. It should provide you information needed to operate your business, analyze your departments’ profitability and efficiency, and review your expenses and other account details.
David Keller - I recently assisted a client with reviewing their claim for insurance due to business interruption. Their facility’s main roof collapsed due to the weight of an excessive ice and snow storm, causing damage to a substantial amount of equipment and making the facility unusable for approximately eight months until it was rebuilt.
David Keller - Your service department is one of the busiest departments in your dealership. Service deals with more customers than any other department on a daily, monthly and annual basis. The service department also sees more potential customers than any other department.
David Keller - Review your year-to-date income statement as compared to the prior year, specifically whether vehicle gross profit percentages remained consistent or were lower than the prior year.
David Keller - During the course of a year, accountants are asked many different questions. Some of the more frequent questions are: What should I pay myself for salary? What should I pay myself for rent, and what should the lease term be? Should I consider starting a buy here pay here (BHPH) operation if I am a new car dealer? Getting to the FAAQs
David Keller - On November 6, 2009, the President signed the Worker, Homeownership, and Business Assistance Act of 2009 (WHBAA). This and many other factors can affect your business’ taxable income for 2009 and beyond. Some of the below changes are beneficial, and some are not.
David Keller - I just finished attending a couple of conventions where I spoke on various expert panels and met with hundreds of dealers. I have spent many hours on the phone with dealers who have called wanting help to “stay alive.”
David Keller - As we all know, 2009 is a year we are willing to lock away in the attic and forget. There have been many changes in management styles, efficiencies, inventory values, personnel, sales, income, et cetera this year, and there will probably be more to come in 2010.
David Keller - Now the Cash for Clunkers promotion is over, you can breathe a little. Wrong! You’d better get going and decide what to do now that customers are not walking rapidly into your store ready to sign contracts without expending a lot of sales effort or advertising on your part.