In 1957, Dwight D. Eisenhower famously said, “Plans are nothing; planning is everything.” Things can change quickly in the world of tax for auto dealers, and an unexpected occurrence could easily affect your tax planning. However, while the plan itself might need to be tossed, the underlying process can always be adjusted or restructured to address an unforeseen challenge.

This session focuses significantly on the tax planning process, in the hopes that a thorough understanding of the process will prepare participants to implement and optimize a combination of effective tax strategies when undergoing a refresh or new construction project. Industry-specific examples will demonstrate how auto dealers leveraged opportunities available under the Tangible Property Regulations and PATH Act to maximize tax deductions and increase cash flow.

This session will highlight the engineer’s decision-making process, with particular emphasis on depreciation schedules are “scrubbed” to maximize tax savings during refreshes. The session will also review a number of practical examples that illustrate the planning process and will consider the myriad of opportunities a new construction project may yield.

Understand concepts that underlie capitalization, BAR and Materiality Testing, and PAD Elections under the Tangible Property Regulations during refresh projects.
Understand the definition of Qualified Improvement Property (QIP) under the PATH Act to take full advantage of bonus depreciation.
Through case studies, participants will learn a practical approach to ensure that all possible opportunities are being fully leveraged to generate maximal tax savings on refresh and new construction projects.

Dawn P. Rosoff CPA

Partner, EisnerAmper LLP

Appearances