Dealer Services Group

12/27/2024

📣 LAST-MINUTE TAX DEDUCTIONS ALERT! 📣

12/06/2024

BREAKING NEWS:

California Dealers....

On December 3rd, The U.S. District Court For The Eastern District Of Texas Issued A Nationwide Preliminary Injunction Against Enforcement Of The Corporate Transparency Act’s Beneficial Ownership Information Reporting Requirements.

What Does This Mean?

The BOI Report For The U.S. Treasury’s Financial Crimes Enforcement Network (FINCEN) That You May Have Had On Your "To Do" List By December 31st Can Be Postponed Until Further Notice.

We Will Keep You Posted Of Any Future Developments.

Click Below To Read The News Release:

https://conta.cc/4iomyqO

03/07/2024

Book a Call! https://calendly.com/dealerservicesgroup

S corporations must pay reasonable compensation to a shareholder-employee in return for services that the employee provides to the corporation before non-wage distributions may be made to the shareholder-employee. But what is reasonable?

Too low and the IRS will reclassify your distributions as disguised wages and hit you with penalties. Too high and you're unnecessarily paying more payroll tax than you should! That's why we use three methods to keep more money in your wallet:

1. Cost Approach (aka the Many Hats Approach);
2. Market Approach (aka the Industry Standard Approach);
3. Income Approach (aka the Independent Investors Test)
Read the rules here: https://www.irs.gov/businesses/small-businesses-self-employed/s-corporation-compensation-and-medical-insurance-issues

Let's drive your dealership forward, together.

Adapt. Evolve. Achieve. with Dealer Services Group.

03/07/2024

Maximize Your Dealership's Potential with Customized CFO and Tax Advisory Services
Book a Call! https://calendly.com/dealerservicesgroup

At Dealer Services Group, we're not just accountants; we're dealer accountants. Our unique journey from the lot to the ledger means we understand the ins and outs of the used vehicle industry like no one else.

Why settle for generic financial advice when you can have a partner who speaks 'Dealer'?

Our bespoke CFO and tax advisory services are specifically designed with used vehicle dealers in mind. From conducting in-depth Reasonable Compensation Studies to implementing the Augusta Strategy, we're here to ensure your dealership isn't just surviving, but thriving.

With Dealer Services Group, you're not just adapting to the ever-changing financial landscape; you're evolving ahead of it. Let's drive your dealership forward, together.

Adapt. Evolve. Achieve. with Dealer Services Group.

03/02/2024

5 Tax Credits Every Auto Dealer Should Know About
Book a Call! https://calendly.com/dealerservicesgroup

Navigating the complex tax landscape can be daunting for auto dealers. That's why at Dealer Services Group, we specialize in identifying tax credits that can significantly lower your tax bill. Here are five tax credits every auto dealer should be aware of:

1. Work Opportunity Tax Credit (WOTC): Hire from targeted groups to receive a tax credit for each new hire.

2. Research & Development Tax Credit: Innovate within your dealership? You could be rewarded for your efforts.

3. Energy Efficient Commercial Buildings Deduction: Made eco-friendly upgrades? This deduction could benefit you.

4. New Markets Tax Credit: Invest in underserved areas for a substantial tax credit.

5. Disabled Access Credit: Improve accessibility for the disabled, and receive a credit for these necessary modifications.

Understanding these credits can be the difference between an average and an exceptional financial year for your dealership. Trust Dealer Services Group to guide you through these opportunities and maximize your savings.

02/27/2024

A nickel's worth of free advice: Don't file your dealership taxes until you talk with us! Theres's only a few weeks left until due-date but we can get you an extension and the time needed to make sure you're not overpaying or setting yourself up for IRS issues.

The IRS publishes Audit-Technique Guides for certain industries. Have you reviewed the auto-dealer section and considered your own processes? Check out pages 90-118 at the link below.
https://www.irs.gov/pub/irs-pdf/p5495.pdf

Or call us for the highlights and let us put together a tax strategy and compliance plan for your dealership.

Call now to connect with business.