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Old 12-27-2016, 10:06 AM   #1
XDCX
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Join Date: Nov 2007
Posts: 14,856
Default Year End Tax Strategies for Car Dealerships

Year End Tax Strategies for Car Dealerships






With the end of the year fast approaching I wanted to create a thread to see if there was any advice or recommendations that our members had as it related to year end tax strategies.

As always, I don't want to advocate anything that might not comply with IRS regulations and anyone reading this thread should check with their accountant to verify that any suggested tax strategy is permitted.

That said, here are some thought starters:

-- Can you "re-book" your Used Car Inventory and take a write down?
-- Can you evaluate your Parts Inventory and write down obsolete parts?
-- Are there any last minute donations that make sense?
-- Are there any expenses that you can pre-pay to lessen this year's tax obligation?
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