Automobile Dealership CPA Services

Surrounding yourself with knowledgeable financial advisors is a key to effective management. Selecting a CPA, one who is knowledgeable in dealership finance, accounting, management and taxation, can be one of your most important decisions.

The 21st century has brought rapid change to the automobile dealership industry. Dealers need competent financial advisors to help them through these changing times. A CPA firm that services auto dealer clients can offer invaluable insight to dealers and their staff. Surprisingly, many auto dealers work with CPA firms that service less than five dealerships. Industry expertise comes from years of experience working with a significant number of clients (50 or more). CPAs with this type of experience can provide vital business advice to a dealer.

Dealers produce complicated financial statements, use unique accounting and tax methods, and have specialized computer software systems. These are difficult concepts for CPAs that do not specialize in auto dealerships. A CPA firm like Downey & Company that has such auto dealership experience can assist a dealer in many accounting and non-accounting ways. These include devising tax strategies, advising the dealer on financial improvements to the store, buying or selling a dealership, helping develop estate and succession plans, and introducing the dealer to other industry specific professionals.

At Downey & Company, our professional staff offers numerous years of experience with auto dealerships. We strive to provide "more than just the numbers" to our clients by developing procedures that highlight areas of particular interest and concern to dealers.

The need for a CPA firm that understands the automotive business is more important than ever. Downey & Company has over ninety dealership clients and 26 years of continuous service.

Downey & Company, LLP is a member of the National Alliance of Auto Dealer Advisors. NAADA was created to provide leading accounting and consulting firms specializing in working with auto dealers with a unique venue to discuss issues affecting the profitability of auto dealers. These firms collectively represent more than a thousand car dealerships and related entities, and as a group, are recognized throughout the profession as leaders in identifying problems and creating solutions to ensure the success of auto dealers throughout the nation. Admission to this group was determined by a panel of leading business professionals and establishes its members as one of the nation’s finest business advisory firms to the auto dealer owner. Member firms meet twice a year to discuss current issues effecting auto dealerships as well as to develop ties to similar accounting and tax experts in other areas of the country.

For our most recent automobile dealership articles, please click on the article title below:

Dealers Should Make Business Resolutions for a Prosperous New Year - Dec 2011

Dealers Post Strong Financial Results in 2011-November 2011

QR Codes - The Next Trend in Dealership Marketing - September 2011

IRS Audit Activity Increases for Dealers - August 2011

Recent Tax Legislation May Affect Dealers That Are Building New or Improving Existing Facilities - June 2011

The "After the Sale Sales" That Enhance Dealer Profitability - May 2011

2011 Outlook for Dealers - March 2011

How Far Can New Vehicle Gross Profits Fall? - January 2011

DEALERSHIP ALERT: IRS UNICAP "Safe Harbor" Provides Dealers With Tax Savings

Employees Remain a Dealership's Most Valuable Asset - November 2010

Service & Parts Departments Carry Dealers in Difficult Economic Times - October 2010

Dealer's Profitability Surges in 2010 - September 2010

IRS and States Increase Audit Activity - August 2010