Tax Issues of Auto Dealerships: Floor Plan Financing, 163(j) Limitations, Clean Vehicle and Other Tax Credits
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE webinar with Q&A
This webinar will discuss tax matters of automobile dealerships for sellers and tax advisers working with these companies. Our panel of federal income tax veterans will identify these issues and offer advice to maximize tax savings for these sellers.
Outline
- I. Tax issues of auto dealerships: introduction
- II. Depreciation
- III. Inventory
- IV. Floor plan financing
- V. Credits
- A. Electric vehicle credits
- B. Other credits
- VI. Excise tax
- VII. Impact of tariffs
- VIII. Other issues
Benefits
The panel will cover these and other critical issues:
- Managing floor plan financing
- Depreciation options for automobile dealerships
- Registering to receive Clean Vehicle Tax Credits
- Other tax credits available to auto dealerships
- The 163(j) interest expense limitations relative to automobile sellers
Faculty
Lynn M. Mucenski-Keck, CPA, MST
Principal
Withum Smith+Brown
Ms. Mucenski-Keck is a tax principal with over twenty years of experience in the accounting profession and serves as... | Read More
Ms. Mucenski-Keck is a tax principal with over twenty years of experience in the accounting profession and serves as the Lead of Federal Tax Policy at Withum. She specializes in federal, domestic and international tax planning for businesses, pursuing optimization to maximize cash impact. Ms. Mucenski-Keck leads Withum’s clean energy credit initiatives that have been significantly altered since the passing of the Inflation Reduction Act in August of 2022. She provides up-to-date information on the ability to elect the direct pay or transfer of the federal income tax credits. Ms. Mucenski-Keck is a licensed CPA in the state of New York and a member of the American Institute of Certified Public Accountants.
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Michael B. Mulhearn, CPA
Partner
Withum Smith+Brown
Mr. Mulhearn is a partner based in our firm’s Philadelphia, PA office, with over 15 years of experience in... | Read More
Mr. Mulhearn is a partner based in our firm’s Philadelphia, PA office, with over 15 years of experience in public accounting. His expertise includes accounting and tax services, with a focus on the automotive industry and privately held businesses. Mr. Mulhearn's services include preparation of compiled and reviewed financial statements, partnership and corporate taxation as well as tax planning for his clients.
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