Dealership Legal Update

Oct 26, 2018 9:45am ‐ Oct 26, 2018 11:00am

Identification: AUT1820

This session will focus on franchise and compliance legal issues affecting dealerships.

Attendees will: 

  • 1) Learn about franchise legal issues within the last 12 months impacting dealerships and how to best respond to those issues
  • 2) Learn about legal compliance issues and best practices in handling those issues.

Maximizing Depreciation in the Era of Tax Reform and the TPRs

Oct 26, 2018 12:00pm ‐ Oct 26, 2018 12:50pm

Identification: AUT1821

The Tax Cuts and Jobs Act (TCJA) brings new opportunities, as well as some challenges, to the auto dealership community. This session will focus on several provisions of the Act that may further enhance the utility of a traditional cost segregation study for the automotive industry. The panelists will discuss the impact of the new tax law on dealership purchases and real estate investments, with a focus on tax planning ideas. In addition, continuing application of the Tangible Property Regulations will be explored.

  • Understand how the TCJA may broaden the scope of a cost segregation study on a dealership through changes in:
    o Bonus depreciation
    o Qualified Improvement Property (QIP)
    o Section 179 Expensing 
  • Explain the significance of the 9/27/17 date in determining bonus rates for new construction, renovation projects, and acquisitions. 
  • Understand the implications of the Interest Deduction Limitation and its connection with Floor Plan Financing. 
  • Explain how the varying structures of dealership-related entities determine the appropriate depreciation methods and class lives applied to those entities.

Leading a Successful Parts and Service Department

Oct 26, 2018 12:00pm ‐ Oct 26, 2018 12:50pm

Identification: AUT1822

Are you challenging your parts and service departments to perform at their maximum potential? Attend this workshop and learn the operations activities and performance measures that are critical in maximizing your parts and service performance. Apply proven techniques to connect with, encourage and influence operations leaders to identify and reach their performance potential.

• Identify the critical activities and performance measures for top performing parts and service departments.
• Apply proven leadership concepts to connect with, encourage and influence operations leaders to identify and reach their performance potential.

Buy Here/Pay Here

Oct 26, 2018 12:00pm ‐ Oct 26, 2018 12:50pm

Identification: AUT1823

In this session, attendees will learn about Buy Here/Pay Here Operations including the function of a related finance company, tax implications and typical accounting entries.

  • 1. Gain understanding of Related Finance Companies and how they are set up 
  • 2. Understand the costs and benefits of a Related Finance Company from a tax perspective 
  • 3. Understand the accounting treatment for sale of notes between the dealership and Related Finance Company 
  • 4. Understand the entity types of a Related Finance Company and the appropriate tax structures

Entity Structures for 2018 and Beyond

Oct 26, 2018 1:10pm ‐ Oct 26, 2018 2:00pm

Identification: AUT1824

Business Entity Structures for 2018 and Beyond - A discussion of Corporations, S Corporations, and LLC's in light of Tax Reform

  • Understand the impact of tax reform on Business Entity Selection 
  • Understand the basic differences of Business Entities

Understanding Cybersecurity Threats

Oct 26, 2018 1:10pm ‐ Oct 26, 2018 2:00pm

Identification: AUT1825

As the volume of publicly-disclosed cybersecurity incidents continues to grow, businesses of all sizes have recognized the need to address cybersecurity risks within their organizations. Given the technical nature of this field, it is often difficult for executive leadership to fully grasp what they should be doing to protect their business from cyber-attacks, and how they should prioritize this among their other initiatives. During this session, we will discuss why businesses get targeted, the basic security measures that all businesses should have in place, and how leaders can prioritize and align more advanced security initiatives with their organization's long-term goals.

  • Why would a hacker want to target my business (or me?) 
  • What are foundational capabilities that should be in place for any enterprise in 2018? 
  • What is urgent? 
  • How should efforts be prioritized?

Rethink Your Fixed Ops People Strategy to Drive Profitability

Oct 26, 2018 1:10pm ‐ Oct 26, 2018 2:00pm

Identification: AUT1826

For each day a dealership has an open auto technician role, up to $1,200 in gross profit is lost. And dealerships face challenges when it comes to attracting quality applicants for service technician and other key roles in the fixed operations department. Many factors contribute to these challenges, including fewer millennials seeking careers at dealerships, job seekers not understanding the opportunity service technician careers have to offer and Baby Boomer technicians rapidly retiring. In this session, Adam Robinson will share an overview of the state of fixed operations hiring and highlight key hiring insights from Hireology’s customer base of more than 1,600 dealership. He’ll also highlight best practices for attendees to rethink their people strategy to attract quality talent and drive profitability back to the dealership.

During this session , attendees will:

1) See an overview of the current fixed ops labor market 

2) Gain an understanding of how much profitability is lost each time a fixed ops role is open 

3) Learn best practices for improving your fixed ops hiring strategy – including writing compelling job descriptions, offering comprehensive benefits, outlining career paths, improving employment branding, partnering with local technical schools, and others


Transition Your Pay Plans to Meet Today's Employee Demands

Oct 26, 2018 2:10pm ‐ Oct 26, 2018 3:00pm

Identification: AUT1827

How do you create the perfect balance between attractive wages to hire and retain the best staff, and the ability to maintain the healthy profit necessary to grow your dealership while taking great care of your customers and employees? Wow, now that's the challenge, isn't it?!

  • 1) Learn the best ways to pay your employees, keep your payroll at your budget target, and motivate them to deliver a great Customer Experience 
  • 2) Learn how changes to your Technician pay plan can attract new Technicians and keep your current Technicians from leaving 
  • 3) Learn best practices for changing pay plans

Reinsurance, Compliance and Structure

Oct 26, 2018 2:10pm ‐ Oct 26, 2018 3:00pm

Identification: AUT1828

Reinsurance structures are under heightened scrutiny in light of amendments to section 831(b), Notice 2016-66, the Avrahami decision, and current audit activity. This session will review the current status, likely future trends, risk assessment and mitigation, and opportunities.

Learning Objectives:

  • 1. Understanding of current state of law, regulations, and IRS activity regarding microcaptive insurance/reinsurance structures. 
  • 2. Understanding of best practices to limit risk and to maximize benefits to clients.

A&A Update (Repeat of AUT1815)

Oct 26, 2018 2:10pm ‐ Oct 26, 2018 3:00pm

Identification: AUT1829

This session will focus on accounting and audit standards impacting dealerships.

Learning Objectives: 

  • 1. Understand and implement US GAAP in a retail dealership environment 
  • 2. Apply proper auditing standards in the course of auditing retail dealerships 
  • 3. Be aware of pending or upcoming accounting standards (US GAAP)