Dealerships
Cybersecurity threats: Are dealerships vulnerable?
Written by Jim Goerlich, CPA
Dealerships have always had to worry about crimes such as fraud and embezzlement. But the dangers they face now are much more sophisticated — and can be far costlier. According to the Ponemon Institute's latest U.S...
Security Breaches: How your dealership can avoid becoming the next victim
Written by Jessica Dore, CISA
If you've been paying attention to the news in the past year or so, you've likely heard about the alarming rise in security breaches at large companies such as Target, Neiman Marcus and The Home Depot. If you have worries about your organization becoming another victim, fear not. There are some simple steps that you can take to secure your systems. 1...
Protecting – and growing – your bottom line
Written by Jim Goerlich, CPA, CGMA
The dealership market is extremely competitive, with approximately 17,000 franchised new vehicle dealers in the United States — not including the many used vehicle, boat and recreational vehicle dealers. That competition poses constant challenges to your bottom line. But outside of striving to provide top sales and support service to your customers, there’s not much you can do about it: your competition isn’t likely to shutter just to make things easier for you. Fortunately, you DO have control over the following four ways to protect your bottom line … and one key way to improve it: Protect Fraudulent banking transactions Your CFO, controller or accounting manager should review your bank account on a daily basis...
Michigan Sales Tax Exemption for the Trade-In Value for Motor and Recreational Vehicles
Written by Rehmann TeamEffective Dec. 15, 2013, the State of Michigan will provide consumers with a sales tax credit for the agreed-upon value of a motor vehicle or recreational vehicle used as a trade-in towards the purchase of a new or used motor or recreational vehicle. The trade in value is limited to the lesser of the agreed-upon value of the motor vehicle or recreational vehicle traded or $2,000. The agreed-upon value must be explicitly stated on the invoice, bill of sale, or similar document given to the purchaser...
