AICPA Dealership Conference 2020

Oct 22, 2020 ‐ Oct 23, 2020



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Packages Display Packages

Standard: $299.00

Sessions

Presidential Election Outcomes: Effects on Taxes

Oct 22, 2020 10:00am ‐ Oct 22, 2020 10:50am

Identification: AUT20ER01

Operation Alertness Issued: 4

Operation Alertness Required: 3

Operation Introducer: Ed Reinhard

Operation Minutes: 50

Operation Credits: 1

Operation Credit Type: Taxes

Operation Level: Overview

Operation Prerequisites: 1-2 Years in the Profession

Operation Advanced Prep: None

Operation Sale: 1

Operation Archive: 1

Individuals and businesses have been negatively impacted by the health and economic effects of the COVID-19 pandemic. The outcome of this November’s election will determine how we move forward. The Presidential candidates have each put forward a variety of tax proposals. The panel will discuss these proposals and how the outcome of the congressional and Presidential elections affects the likelihood of these proposals becoming law.

Learning objectives:

  • Evaluate each candidate’s tax proposals
  • Analyze whether action is needed to prepare for the outcome of the election

Speaker(s):
Tags: TAX
Category: Early Riser (Online)
Standard: $49.00

Welcome Remarks and Fireside Chat with Don Flow and Jason Stein

Oct 22, 2020 11:00am ‐ Oct 22, 2020 11:55am

Identification: AUT2001

Operation Alertness Issued: 4

Operation Alertness Required: 3

Operation Introducer: Tara Thomas

Operation Minutes: 50

Operation Credits: 1

Operation Credit Type: Specialized Knowledge

Operation Level: Overview

Operation Prerequisites: 1-2 Years in the Profession

Operation Advanced Prep: None

Operation Sale: 1

Operation Archive: 1

Join us as Jason Stein, Publisher of Automotive News, conducts a “fireside chat” with Don Flow, Chairman and CEO of Flow Automotive Companies where the two will discuss success stories, best practices, and the obvious operational challenges during the recent pandemic. The session will cover:

  • Best practices and lessons learned from the leader of a large automotive group
  • Managing through a pandemic, including digital retailing, HR, operational challenges
  • How to emerge strong following the pandemic

Speaker(s):
Category: General Session (Online)
Standard: $49.00

Post-Pandemic Economic Prospects

Oct 22, 2020 12:05pm ‐ Oct 22, 2020 12:55pm

Identification: AUT2002

Operation Sponsor Video: 1

Operation Minutes: 50

Operation Credits: 1

Operation Credit Type: Economics

Operation Level: Overview

Operation Prerequisites: 1-2 Years in the Profession

Operation Advanced Prep: None

Operation Sale: 1

Operation Archive: 1

The economy continues to recover from the deepest recession in the post-war period. The reopening phase generated stellar growth rates from locked-down levels, fueled by massive amounts of fiscal and monetary policy stimulus. However, although still strong, growth rates are starting to ebb in a swoosh-like fashion, as business and consumer confidence remain vulnerable to virus’ vagaries. Meanwhile, additional fiscal policy support is proving harder to come by as the election approaches. The economy’s complete recuperation from the pandemic could take a long time. This session will address these issues. 

Speaker(s):
Category: General Session (Online)
Standard: $49.00

New Realities of Today's Used Car Business and Methods to Maximize Net Profits

Oct 22, 2020 1:25pm ‐ Oct 22, 2020 2:15pm

Identification: AUT2003

Operation Alertness Issued: 4

Operation Alertness Required: 3

Operation Introducer: Ed Reinhard

Operation Minutes: 50

Operation Credits: 1

Operation Credit Type: Specialized Knowledge

Operation Level: Intermediate

Operation Prerequisites: 3-5 Years in the Profession

Operation Advanced Prep: None

Operation Sale: 1

Operation Archive: 1

Used vehicle net profits have diminished in recent years, even as sales volumes have increased for dealers. This trend finds many dealers achieving record-setting sales volumes while losing money in their used vehicle departments. This session offers a data-rich dive into the factors that have caused net profits to decline and reveals new metrics dealers can use to right-size their inventory investment to retail demand, identify each vehicle’s unique investment value and align their used vehicle acquisition, pricing and reconditioning decisions to maximize each vehicle’s optimal return on investment. The session will deliver take-home strategies that help dealers increase sales volumes without sacrificing net profit.

Learning Objectives:
  • Recognize the shorter retail shelf life of most used vehicles
  • Base critical used vehicle management decisions on each vehicle’s investment value
  • Create an investment management strategy to drive sales and net profit improvement
Speaker(s):
Category: General Session (Online)
Standard: $49.00

Assessing Fraud and Key Controls at Your Dealership in a Pandemic

Oct 22, 2020 2:30pm ‐ Oct 22, 2020 3:20pm

Identification: AUT2004

Operation Alertness Issued: 4

Operation Alertness Required: 3

Operation Introducer: Jimmy Robinson

Operation Minutes: 50

Operation Credits: 1

Operation Credit Type: Specialized Knowledge

Operation Level: Intermediate

Operation Prerequisites: 3-5 Years in the Profession

Operation Advanced Prep: None

Operation Polling: 1

Operation Sale: 1

Operation Archive: 1

In this session the speaker, Torre Hammer, will: 

1. Look at the increased risk of fraud due to the pandemic, employees working remotely and the changing business environment. 

2. Discuss key controls and exception reporting CFOs can implement to address fraud risk and improve operations.

Speaker(s):
Category: Concurrent Session (Online)
Standard: $49.00

Estate and Succession Planning for Dealers

Oct 22, 2020 2:30pm ‐ Oct 22, 2020 3:20pm

Identification: AUT2005

Operation Credit Type: Business Management and Organization

Operation Level: Intermediate

Operation Advanced Prep: None

Operation Alertness Issued: 4

Operation Alertness Required: 3

Operation Introducer: Lewis Fisher

Operation Minutes: 50

Operation Credits: 1

Operation Prerequisites: 3-5 Years in the Profession

Operation Sale: 1

Operation Archive: 1

This session will discuss current planning strategies with respect to family succession, outside sales, estate and income taxes, as well as a discussion of some of the pitfalls of traditional succession structures.

Learning Objectives:
  • Strategies addressing family issues which often impeded succession
  • Participants will become more aware of viable exit strategies and family or management transaction alternatives
Speaker(s):
Standard: $49.00

CFO Panel - Ask the Experts!CFO Panel - Ask the Experts!

Preview Available

CFO Panel - Ask the Experts!

Oct 22, 2020 3:50pm ‐ Oct 22, 2020 4:40pm

Identification: AUT2007

Operation Introducer: Scott Strothkamp

Operation Alertness Issued: 4

Operation Alertness Required: 3

Operation Minutes: 50

Operation Credits: 1

Operation Credit Type: Specialized Knowledge

Operation Level: Intermediate

Operation Prerequisites: 3-5 Years in the Profession

Operation Advanced Prep: None

Operation Sale: 1

Operation Archive: 1

CFOs from Mega Dealer Groups will be ready to answer your questions. Topics to be discussed include:

1. COVID-19 operational changes, 

2. PPP loans planned approach, 

3. Pay plan ideas in changing world, people and development, 

4. Building dealers trust, 

5. 2020 expense savings ideas implemented, 

6. CFO role and 2021 and beyond key initiatives.

Speaker(s):
Category: Concurrent Session (Online)
Standard: $49.00

Tax Update: What we have learned from COVID-19 Inspired Legislation

Oct 22, 2020 3:50pm ‐ Oct 22, 2020 4:40pm

Identification: AUT2008

Operation Alertness Issued: 4

Operation Alertness Required: 3

Operation Introducer: Tara Thomas

Operation Minutes: 50

Operation Credits: 1

Operation Credit Type: Taxes

Operation Level: Intermediate

Operation Prerequisites: 3-5 Years in the Profession

Operation Advanced Prep: None

Operation Sale: 1

Operation Archive: 1

Tax Update: What we have learned from COVID-19 Inspired Legislation

(CARES Act, FFCRA, Payroll Tax Deferral, PPP, and more)

The Coronavirus Aid, Relief and Economic Security Act (CARES Act) and the Families First Corona Virus Response Act included a number of provisions that impact dealerships and their owners. Some of these impacts were felt immediately and others will have a delayed effect to be considered during planning for 2020 tax compliance. We will cover the following topics:

  • Paycheck Protection Program
  • FFCRA Employer Tax Credits
  • Employee Retention Credit
  • Employer Payroll Tax Deferral
  • Technical Correction to QIP
  • NOL Carryback Period Expansion
  • Increase in 163(j) limitation
  • Changes to Business Loss Limitation
  • Charitable Contribution Deduction Changes for 2020

Speaker(s):
Tags: TAX
Category: Concurrent Session (Online)
Standard: $49.00

DMS / IT Networks – Key Aspects of this Fast-changing World that You Need to Know

Oct 22, 2020 3:50pm ‐ Oct 22, 2020 4:40pm

Identification: AUT2009

Operation Alertness Issued: 4

Operation Alertness Required: 3

Operation Introducer: Lewis Fisher

Operation Minutes: 50

Operation Credits: 1

Operation Credit Type: Specialized Knowledge

Operation Level: Intermediate

Operation Prerequisites: 3-5 Years in the Profession

Operation Advanced Prep: None

Operation Sale: 1

Operation Archive: 1

Speakers Sally Lopez and Tom Olney, Partners of OWL Automotive Consulting, LLC, will discuss:

  • DMS – Are you getting full utilization and efficiencies out of your existing system?
    1. How do you know if you are?
    2. Training on your DMS – new employees and existing employees
    3. How to get more training out of your DMS provider
  • DMS – What every dealership should do before the end of their contract?
    1. System utilization review
    2. Timing of review
    3. Proper shopping / comparison to other systems
    4. Phantom barriers to changing DMS providers
  • Data / Network Security – You THINK you are safe and secure? Do you KNOW that you are?
    1. You are financial professionals, not IT Engineers who have firsthand knowledge
      1. Are you safe, just because your IT Director says you are safe?
    2. Steps to positively verify the condition of your IT Network

Learning Objectives:
  • Learn the proactive steps necessary to get full value for your DMS system and contract
  • How to identify if your organization has potential weaknesses that could lead to system intrusions and ransomware
Speaker(s):
Category: Concurrent Session (Online)
Standard: $49.00

State of the Industry  State of the Industry

Preview Available

State of the Industry

Oct 23, 2020 11:05am ‐ Oct 23, 2020 11:55am

Identification: AUT2013

Operation Alertness Issued: 4

Operation Alertness Required: 3

Operation Introducer: Ed Reinhard

Operation Minutes: 50

Operation Credits: 1

Operation Credit Type: Specialized Knowledge

Operation Level: Overview

Operation Prerequisites: 1-2 Years in the Profession

Operation Advanced Prep: None

Operation Sale: 1

Operation Archive: 1

My very first speech as the 2020 NADA Chairman dealt with the corruption, obstruction and disruption to the auto retail industry.  The COVID-19 pandemic might be described as destruction but we are facing the challenges together as we learn to operate in a new business environment.

Learning Objectives:
  • Business challenges bring opportunities and adapting to change leads to advancements in the auto industry
  • Educate ourselves and learn new best business practices for an ever changing environment
  • We are united as One NADA, a bulletproof band of brothers and sisters. Stay positive because together, We've Got This
Speaker(s):
Category: General Session (Online)
Standard: $49.00
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