Whether you’re planning for or going through a merger, acquisition, or buying another business, understand these tax considerations before beginning the transaction.
Automotive and Manufacturing
Prepare to Shift: Adding Electric Vehicle Infrastructure for Today’s Automotive Retailers
With automotive OEM’s expanding their Electric Vehicle (EV) offerings with ever more attractive models and range-extending capabilities that allow consumers to drive ever farther, the market is poised for significant growth.
So how do automotive dealers prepare for the broad cultural shift alongside the rapidly evolving retail model?
Business Tax Implications of the Inflation Reduction Act (IRA)
The Inflation Reduction Act creates minimum corporate tax and pushes for renewable energy investments by businesses. Read more here.
Proposed Relief For Dealerships Using LIFO
The COVID-19 pandemic disrupted the supply chain for many U.S. companies, resulting in significantly reduced inventory levels at the end of 2020 and 2021. As a result, many companies using the last-in, first-out (LIFO) inventory method experienced an involuntary liquidation of their LIFO layers.
The War for Talent: Do Dealerships Stand a Chance?
In this time of “The Great Resignation” and chronic shortages of qualified employees for a variety of positions, two-thirds of potential employees would not even consider a role in a automobile dealership, down from 75% in the 2019 study.
4 Tips for Working With a Resource-Constrained IRS
Federal tax professionals working to resolve issues with the IRS can attest to the multifaceted impacts of the agency’s resource constraints on taxpayer service. The following are some suggested best practices for dealing with the IRS in the current environment.
Debt Refinancing Transactions: Tax Issues and Opportunities
Debt is an important component of any company’s capital structure since it creates leverage to fund growth without raising capital for every expansion. Although interest rates continue to be historically low, concerns about their potential rise have caused many companies to consider refinancing existing indebtedness to “lock-in” current rates.
What to Do If You’re the Subject of a Sales Tax Audit (and Steps to Avoid One)
If your business is undergoing a sales tax audit or is worried about dealing with one in the future, here are tips to navigate, prepare for, and avoid a sales tax audit.
IRS Increases Mileage Rates Reimbursements for Second Half of 2022
The Internal Revenue Service will raise the optional standard mileage rate for the final six months of 2022 to help offset the rise in gas prices nationwide.
Haven’t Considered the Employee Retention Credit? It’s Not Too Late
One of the biggest struggles businesses face today is finding qualified people to hire while keeping the people they have. That’s why the government came up with some creative ways in 2020 and 2021 to deal with this growing issue, including the Employee Retention Credit (ERC).