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Old 01-03-2017, 09:05 AM   #3
XDCX
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Join Date: Nov 2007
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Quote:
Originally Posted by jayhawk View Post
-we revalue all used cars to nada "loan" value, depending on annual profit, sometimes makes for a great January!

-you could make a case for writing off all parts not sold in the past year, never clear on whether or not you had to scrap them though [we didn't].

-donations are always appreciated
Thanks for the information - I like the idea of re-booking the used cars at the end of the year.

Concerning the parts inventory, that's a great question. I wouldn't be surprised if there was an IRS requirement that the parts needed to be scrapped if the dealership wanted to write them off.
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