As dealerships continue to expand, the complexities of handling processes such as accounts payable, accounts receivable, cash flow, billing and payroll can become challenging and costly. More multi-store dealers are transitioning away from location-specific accounting functions in favor of a centralized service model.

In this session, we'll overview several key tax issues impacting the dealer industry for upcoming tax filings, changes to Sec. 163(j) interest limitation calculations, business meals, and bonus depreciation. The session will also share updates on current legislation impacting potential LIFO recapture relief for dealers.

NCM Associates originated the automotive 20 Group peer collaboration model in 1947 and its effectiveness has been proven time and again over the years. The concept is smart and simple: using Benchmark data [https://www.ncmassociates.com/...] as the foundation, we bring together similar, non-competing business owners from a broad cross-section of the country to exchange best practices, experiences, ideas, and strategies. This session will discuss both benchmarking and the importance of accurate departmental reporting within the automotive industry.

Unify payments across all channels, on one platform. Learn how to eliminate manual payment entry to reduce errors and enable seamless reporting automation.

Explanation and discussion of newly issued accounting pronouncements, with particular focus on those of greater impact to dealerships. Focus on auditing standards that are relevant to those working with retail dealerships, including consideration of matters critical to both audit and review engagements. These matters will also be discussed from the viewpoint of the dealership, ensuring those not in public practice can utilize the sessions materials to enhance their internal financial reporting and better interact with the public accountants they work with.

This Q&A panel format will cover issues that CFO's in automotive are focused on today. What keeps them up at night, where do they see profit potential in the challenges, and how are they planning for the numerous disruptions in the industry.

For more than 100 years, there has been speculation that the auto retail industry would change, and dealers would suffer from the myriad of threats. Dealers have always shown they are highly resilient and the change to the auto retail industry happening today is testing that resiliency once again. They have experienced record profits yet there are growing threats on the horizon. Consolidators have built massive market share, new entrants continue to emerge, OEMs forcing “The Agency Model” and EVs. These threats combined with high valuations have dealers exiting the business completely. The future of automotive retail is reliant on dealers who want to grow and compete over the long term. This requires building a world-class organization and incorporating operational and organizational best practices. Session attendees will gain insights into where dealers can invest the right capital and time to maximize the value of their business to compete long-term.

Modernize your operations with true cloud technology. In this session, we will explore the complexities of doing business in today’s environment and how increasing accessibility and visibility to the entire organization will help you improve efficiencies and performance.

The aftereffects of the Covid pandemic are still being felt by auto dealerships, and everyone is looking to improve cash flow. Many dealers are propping up the bottom line by decreasing their real estate tax burden. This session will explore a variety of tax savings strategies that fully leverage current legislation, and the significance of strategic timing will be discussed. Cost segregation, bonus depreciation, Section 179 expensing, and several other strategies will be reviewed, with a focus on the interplay between strategies. Several real-life examples will be presented to indicate the scope of potential savings.

Diversity, Equity and Inclusion is not a new concept. As a matter of fact, we have been talking about it for years yet. Progress is being made but there is more we can do to promote long term, meaningful, progress. Inclusive leadership must be an organizational design principle that is deeply woven across the various business units. As a result, leaders must reinforce their team building skills to maximize diversity of thought and innovation. The benefits of business growth, revenue, and team/customer retention can’t be overstated. Join this session with Kimberly Ellison-Taylor, CEO of KET Solutions, LLC and Chair of the AICPA’s National Commission on Diversity and Inclusion to

• Identify the business imperative of inclusion

• Learn change management techniques to enable intentional progress

• Learn ways to empower team members to be the best version of themselves

• Grow and expand business opportunities