Apr 28, 2020
Florida State Tax Updates
Drive Toward Success
Empowering the modern-day dealership through industry shifts. Withum helps auto and powersports dealerships stay competitive and profitable in today's market so they can drive toward success.
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Automotive Advisory Services
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Related Automotive Services
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State and Federal Tax Issues
Dealerships have changed through the decades in response to shifting consumer preferences, evolving technology and concern over environmental impacts. The challenges you face in remaining competitive and profitable while maintaining financial and regulatory compliance is a constant balancing act. Longevity within your dealership starts from within and is sustained with the help of those who have traveled down the same roads you have. Withum’s Automotive Services Team is built with automotive accountants and consultants who started working in retail automotive. Backed by decards of experience, our team offers auto dealerships the industry knowledge, financial expertise and business acumen to support you in the drive toward your goals.
Automotive Dealership Challenges and Trends
Omnichannel Sales Experience
Consumer trends and desires shift quickly and often, which can impact your bottom line negatively if you’re not prepared. Younger demographics are forcing consumer-based businesses to engage with their buyers in new ways.
Employee Retention and Education
Brick-and-mortar shops are quickly becoming less frequented as online retail continues to grow. Consumers enjoy the simplicity and convenience of ordering groceries, clothing and takeout from the comfort of their home. But, for businesses, that expanded consumer base brings complex tax liability.
Integrated Fixed Operations
Innovative small businesses are enhancing the value of consumer goods. Whether operating on their own or catching the eye of larger corporations for acquisition, the investment opportunities are increasing for consumer products companies.
Navigating the New Normal at Your Dealership
The economy brings in a realm of uncertainty and unpredictability. Businesses are subjected to product volatility, international competition and trade rules, forcing companies to evaluate their supply-chain management.
Retail Automotive Accounting and Advisory Services
Offering the retail automotive industry dependable solutions fastened with trusted guidance. We fill your needs with car sales accounting, car dealership revenue recognition and internal audits as well as automotive accounting consulting.
Retail Automotive Accounting Services
- Account Reconciliations
- Dealership Compliance
- Internal Controls Assessments
- State and Federal Tax Issues and Guidance Sales Tax Compliance and Nexus
- Warranty Processing Controls
- Parts Inventory Controls Outsourced Accounting and Finance
Retail Automotive Advisory Services
- Dealership Valuation
- Due Diligence: Sales, Mergers and Acquisitions
- Litigation Support/Expert Witness Consultation
- Succession and Estate Planning
- Fixed Operation Overviews
- Warranty Processing Controls
- Warranty Parts and Labor Optimization
- LIFO Services
- Parts Inventory Controls
Women in Automotive
Proud of where we came from. Proud of where we’re going. Proud to support the #WomenInAutomotive. With experience working in different roles within the dealership, all of the roads have crossed and met here at Withum. As we continue to contribute to the auto industry, we hope to cross paths with you on your journey, too. Hear three stories from our #WomenInAutomotive team members, on how their journeys have positioned them to help put dealerships on the road to success.
Associations and Accreditations
Withum's Automotive Services Team is an active member of national and local centers of influence.
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