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Auto Dealers Should Revisit Pay Plans in Light of New Overtime Rule

Automobile|Tax

By Bob Bandi

On May 18, 2016 the Department of Labor issued new overtime rules in which an estimated 4.2 million currently exempt employees will become entitled to ... read more >

Employment Tax Audits Are Coming

Tax

By Bob Bandi

All signs point to increased enforcement of employment tax laws, particularly regarding classification of workers as employees vs. independent contractors. ... read more >

The Changing Role of the Car Salesman

Automobile

By Bob Bandi

The New Car Salesman Selling Strategies - The Customer Service Approach What will the new car salesman of the future look like? Today’s consumers ... read more >

Auto Dealers - One More Reason to Monitor Inventories

Automobile|Tax

By Bob Bandi

Included in a report released by the Treasury Inspector General for Tax Administration, is an interesting fact about IRS audit activities through 2012. ... read more >

Prepare for Lenders' Bias Warning Letters

Automobile

By Bob Bandi

Auto dealers do not fall under the jurisdiction of the Consumer Financial Protection Bureau (CFPB) for a good reason – car loans did not cause the ... read more >

Safeguard Your Data - Third Party Access

Automobile

By Bob Bandi

Auto dealers have historically allowed third party vendors access to their customer data for a variety of reasons. However, the days of giving blanket ... read more >

Tax Implications of Courtesy Cars

Automobile

By Bob Bandi

We have seen auto dealers placing vehicles in service as loaners (or courtesy cars) with more frequency lately. There are several specific tax implications ... read more >

Reward and Retain Key Employees with Incentive Compensation

Automobile

By Bob Bandi

Schneider Downs has assisted several auto dealers recently with the implementation of incentive compensation plans utilizing deferred compensation arrangements ... read more >

Auto Dealers and Facility Upgrades: What is Taxable Income?

Automobile

By Bob Bandi

Some auto dealers are concerned that the assistance they receive from manufacturers to help with the cost of required facility upgrades must be recognized ... read more >

Working Capital Requirements

Automobile

By Bob Bandi

Most automakers require their dealerships to maintain a certain level of working capital (working capital requirement). The calculation varies among manufacturers. This amount should be shown on the first page of the dealers’ monthly financial statements.... read more >