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Welcome
P&N's
Dealer Insight newsletter is changing to better inform you. We have moved from a printed newsletter to an electronic version so
that you receive the information in a more timely and convenient manner. You will continue to receive the newsletter via email on a bimonthly
basis. Visit our website for more information, including archives of past newsletters.
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Used Vehicle
Write-Downs
Dealers must value inventory at cost for LIFO purposes. An alternative to
used vehicle LIFO is the IRS-approved method of lower of cost or market. This could offer additional deductions if utilized to value your pre-owned
inventory. If lower of cost or market is adopted, inventory must be identified using FIFO or specific identification. When a dealer writes down inventory to the lower of cost or market, market is considered replacement cost.
Alternatively, inventory may be valued at lower than replacement cost based on an actual offering price up to 30 days after the end of the tax
year. MORE
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Used Vehicle Inventory Optimization
With new car
sales levels becoming dangerously low for some franchise dealers, many are looking to their pre-owned departments to bolster profitability in
front-end operations. Even the dealers who already have sizable used car operations recognize the need to optimize their existing processes.
Inventory optimization provides a way to determine how to have the right inventory (model, specific options and quantity) on your lot at the right
price point to help maximize your profits. MORE
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Business incentives in the Economic Stimulus Act of
2008
Congress recently passed the Economic Stimulus Act of 2008 which is intended to jump-start our economy, in part
through tax incentives aimed at encouraging businesses to increase their investments in new equipment by the end of 2008. Under the Act, small
businesses will be able to write off up to $250,000 of qualifying expenses in 2008. In addition, businesses will be able to deduct an additional 50%
of the cost of certain investments in 2008. MORE
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Baton Rouge | 8550 United Plaza Blvd., Suite 1001 | Baton Rouge, LA 70809
Donaldsonville | 215 St. Patrick St. | Donaldsonville, LA 70346
Gonzales | 326 E. Cornerview | Gonzales, LA 70737
Metairie | 2324 Severn Avenue | Metairie, LA 70001 |
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PNCommunications@pncpa.com | www.pncpa.com
You are receiving this message as a result of your business relationship with Postlethwaite & Netterville.
P&N respects your privacy. We will never share your email address with any other person or organization.
Pursuant to IRS Circular 230 and IRS regulations we inform you that any federal tax advice
contained in this communication is not intended or written to be used, and cannot be used,
for the purpose of avoiding penalties imposed under the Internal Revenue Code. |
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