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What would you do if all the data on your dealership’s computers were locked up and held for ransom? Unfortunately, this is exactly what’s happening to businesses all over the country, including dealerships.

Unemployment tax rates for employers vary from state to state and, typically, the more claims made against your dealership, the higher your premiums climb. Here are several best practices you can follow to keep the lid on employment taxes.

According to the Governance & Accountability Institute, more than 4 out of 5 S&P 500 companies issued sustainability reports in 2015. What is sustainability reporting and what are the benefits?

Profits for dealerships are at an all-time high but the average dealership net profit margin has remained flat for the past five years. One of the biggest challenges faced by many dealerships today is the transparency of vehicle pricing.

One of the most effective ways for dealerships to lower income taxes is by adopting LIFO accounting. If you've dismissed the idea of using LIFO accounting in the past, it doesn’t hurt to reconsider the benefits of this approach.

The end of the calendar year is a fine time to review your employees’ performance. Thoughtful assessments of their successes and shortcomings in the past 12 months will help you provide constructive feedback as you head into the New Year.

If your dealership offers health insurance benefits, there’s a good chance you’ve seen a climb in premium costs. Rising premiums have left many dealerships with difficult choices about whether to continue to offer this important employee benefit.

Thanks to the Protecting Americans from Tax Hikes (PATH) Act of 2015, the Work Opportunity Tax Credit is now available through the end of 2019. Here are the groups that qualify and the money you can save.

What would happen if your dealership were sued, or if your business failed and creditors chased after your assets? No one wants either scenario to materialize, but there are certain precautions you can take to protect your dealership’s assets 'just in case.'

The details involved in cost segregation can be complex, so it’s smart to obtain professional advice and assistance from a tax advisor. Your CPA firm can help you analyze the potential tax benefits of having a cost segregation study performed.

Having established P&Ps is especially important in the Parts and Service department. Perhaps no other area of the dealership holds as much potential for high revenue and profits – or conversely, for waste, inefficiency and fraud.

Utilities represent a large variable expense for most dealerships. To lower these costs, a growing number of stores are switching to light-emitting diode (LED) lighting, both inside the dealership and in the parking lot.

In 2006, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) launched a joint project designed to change the way leases are accounted for under U.S. Generally Accepted Accounting Principles (GAAP).

Buying or selling a dealership can be stressful – it may be the largest financial transaction you’ll ever make. And when you have an interested buyer (or seller), but are nowhere near settling on the purchase price, the situation can become disappointing. Before tossing in the proverbial chips, you might want to consider an earnout provision.

Researching macro trends impacting the automotive industry is a valuable strategic planning exercise.

Using technology during the sales process can substantially boost customer satisfaction scores. Auto dealerships that don’t incorporate technology into their sales process risk losing business to those that do. Tips for effectively using technology to boost customer satisfaction.

The Affordable Care Act created new incentives for wellness programs. More than two-thirds of U.S. employers currently offer a wellness program. Here’s a look at the benefits of a wellness program including reducing health insurance costs and improving employee retention.

Great news for dealerships when it comes to the tax treatment of asset purchases. There are several beneficial provisions in the PATH Act. Here are the benefits of expensing and bonus depreciation which was extended. Your CPA can help you estimate how much money this tax break might save.

Even small enhancements to sales compensation plans could lead to a happier, more motivated sales team that’s more likely to stick around. Many compensation models exist. Information on how to structure a sales compensation plan that's right for your business.

Here are some creative uses of life insurance that go beyond income replacement for your family after you die. Creatively use life insurance for estate planning, charitable remainder trusts, as part of a business succession plan and for heirs paying estate taxes.