By Alysha Webb, Editor and Publisher
In our final issue of 2014 we look at two aspects of one of life’s inevitables – taxes. As we all know, new types of sometimes very prominent investors are now eyeing the dealership sector.
That means more money and where there is more money the IRS is not far behind. Ira Silver of MBAF LLC looks at the “Market Segment Specialization Program” the IRS has developed to specifically address dealerships. Did you know that money received from a manufacturer for a facility upgrade can be considered taxable income?
Columns on taxes aren’t always about money you need to pay, however. Barry Bagus of Emptech in this issue looks at two areas where money can inadvertently be left on the table, compliance and unemployment insurance. Those are also areas where owed taxes can be inadvertently missed, of course. It’s hard to have all good news where taxes are concerned.
As we move in to 2015 we here at Automotive Buy Sell Report look forward to bringing you more expert news and views as well as dealership group profiles and other stories. We’d also like to hear from you so please post comments on stories. I’m sure many of you have opinions about these topics. Let’s get a discussion started!
Happy New Year!
