Automobile and Truck Dealerships

Helping You Improve Operational Performance

 

MichaelSilver has served the unique needs of privately-held automobile and truck dealerships since the firm was founded in 1944. Our years of experience working with family-owned dealerships and franchises enables us to focus on the challenges and needs unique to dealerships. As their trusted advisors, our dealership clients rely on us to not only provide high quality tax compliance/consulting and accounting and assurance services, but also specific services to help them realize their short and long-term financial goals. Services include, but are not limited to:

  • Monthly Financial Statement Analysis and Benchmarking
  • Annual and Long-Term Planning for Business Entities and Owners
  • Business Structure Consultation
  • Assistance with Maximizing the Benefits of LIFO and Manufacturer Incentive Programs
  • Operational and Financial Processes Analysis
  • Cost Segregation Studies on Major Capital Improvement Projects
  • Dealership Cash Flows and Expenses Analysis
  • Income Tax and Sales Tax Audit Representation
  • Complex Sales Tax Issue consultation
  • Due Dilligence, Consulting and Other Assistance in Dealership Purchases and Sales
  • Proactive Advice Regarding Tax Law Changes
  • Succession Planning
  • Estate, Gift, and Trust Planning for Owners and Families
  • Business Valuation 
  • Employee Benefit Program Review and DOL Audit, if Required

Get Started with a Complimentary Expert Review

Let us demonstrate the added value we can deliver to your dealership through our Expert Review. Provided without cost or obligation, our completely confidential Expert Review lasers in on the tax and financial issues unique to dealerships (LIFO, incentive programs, cost segregation studies and other depreciation opportunities, financial statement quality, and benchmark calculations). The report addresses these concerns and includes details of our findings and suggestions for future action.

CATA’s Choice

MichaelSilver proudly serves as the audit and tax services firm for the Chicago Automobile Trade Association.

We provide our clients personalized
attention throughout the year.

Philip Kent

Philip J. Kent

CPA, Partner

John D. Poulopoulos

John D. Poulopoulos

CPA, Partner

Judy Mason

Judy Mason

CPA, CVA, CEPA, Partner

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