Tax Accounting for Vehicle Dealerships (LITX0324)

Taxes

Tax Accounting for Vehicle Dealerships (LITX0324)

Not just automobiles, but RVs, Boats, Motorcycles, and even some mobile homes present the same tax accounting issues. Inventory accounting methods, income from financing and insurance, extended warranty, `floor-plan’ interest, valuation of used units, recording profit (or loss !!!) from a `trade-in’ . . . . all require attention to the income tax effects of vehicle valuation. Discussion Leader: E. Lynn Nichols