This is the Audit Guide that the IRS provides to its agents to
audit independent motor vehicle dealerships. Newly released in
the Fall
of 2002, it was developed with input from the used motor vehicle
industry and can also be used by a dealership to prevent accounting
and tax
problems before they occur. In addition to covering trade issues
such as accounting methods, cost of goods sold and inventory,
balance sheets,
and expense issues, the Guide also provides a blueprint on how a
dealership can form a valid related finance company and includes
a brand new
Chapter on subprime lending. Not only can the Guide help prevent
an unfavorable result in an IRS audit or other regulatory problem,
it
contains information that can help improve your dealership¹s
bottom line. You can download the 128-page Guide immediately and provide
relevant sections to your lawyers, accountants and consultants. It
was drafted in layman¹s terms so that it could be easily understood.
No dealership, professional or consultant in the used motor vehicle
industry should be without one.
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