CCH Audio Seminar Updates Professionals on Auto Dealer Tax Issues for 2009
Friday, December 4, 2009
Posted by: Boomer Consulting, Inc.
Professional advisors to auto dealers and dealerships and internal dealer tax and accounting staff can benefit from a two-hour CCH audio seminar: 2009 Year-end Dealer Tax Update: Tax Strategies and IRS Activities that will discuss important new tax developments affecting their clients or their dealership. Willard J. De Filipps, CPA, a leading expert on tax and accounting issues for automobile dealers and dealerships will lead this audio seminar on Tuesday, December 15 at 1 p.m. Eastern; 12 p.m. Central; 11 a.m. Mountain; 10 a.m. Pacific. CCH, a Wolters Kluwer business, is a leading provider of tax, accounting and audit information, software and services (CCHGroup.com/AudioSeminars).
"Whether auto dealers have lost a franchise or two or are doing reasonably well, 2009 has been a year unlike any other in recent history for the industry,” said Joe Gornick, CCH Audio Seminar Senior Manager. " Will De Filipps is the perfect person to address the many special tax-related challenges auto dealers face this year.”
The seminar will make participants aware of significant new tax developments that impact auto dealerships and examine strategies for delaying, deferring and/or diffusing the impact of significant reductions in LIFO inventories and LIFO reserves. It will also lay out the ramifications of the recent IRS Directive regarding Section 263A cost capitalization and identify planning opportunities for dealerships resulting from recent tax developments.
Recent developments and issues that De Filipps will analyze include:
- Planning for reduced LIFO inventories at year-end, including discussions of Rev. Proc. 2008-23. Rev. Proc. 2008-52 and CCM 200825044;
- Section 263A cost capitalization for dealerships (Industry Director Directive dated September 15, 2009);
- When goodwill turns bad…what can be written off?;
- LTR 200930029… tool reimbursement (accountable) plans for service technicians under Section 62(c);
- "Cash for Clunkers”…impact on dealerships; and
- IRS activities…audit and otherwise.
In addition, the session will include ample opportunity for participants to ask their most pressing questions to De Filipps via phone or e-mail during the seminar.
About the Speaker
Will De Filipps is one of the nation’s leading experts on tax and accounting issues for automobile dealers and dealerships and a consultant to CPAs and businesses around the country on LIFO inventory implementation, changes and planning.
His practical experience includes representation of LIFO applications during Internal Revenue Service audits, in Appeals channels and in technical advice proceedings and for LIFO change requests involving the IRS National Office in Washington, D.C. De Filipps shares his understanding of dealer tax issues and LIFO in numerous tax conferences and seminars around the country and through numerous published articles. He has presented LIFO seminars since 1978 and has conducted seminars in-house for CPA firms around the country, business and trade associations and National and State CPA societies.
He is the author and publisher of Dealer Tax Watch, a comprehensive semi-annual update of essential tax information for auto dealers and LIFO Lookout, a comprehensive semi-annual newsletter with specialized coverage of LIFO news and developments. He has organized and coordinated annual conferences for CPAs and other professionals serving the auto/truck dealership industries.
De Filipps is the originator of Dealer/CPA 21 Resource Groups, which serve group members by providing technical meetings, information exchange, practice aids and other problem-solving and opportunity expanding activities. These groups are now known as the Driving Force and the National Alliance of Auto Dealer Advisors. He also co-founded the AutoCPA Group, the original national organization of CPAs whose member firms specialize in automobile dealer clients.
How the Audio Seminar Works
CCH’s live audio seminars require nothing more than a telephone connection. For the $249 per-site fee, an unlimited number of listeners at a site can participate and get up to speed and in-the-know on these important topics (CCHGroup.com/AudioSeminars).
Two hours of CPE credit are also available for the seminar for an additional $25 for each person wishing to receive a CPE certificate for participation in the seminar.
Along with detailed handout materials, each site registering for this audio seminar will receive a free issue of Corporate Business Taxation Monthly from CCH.
How to Register
To register online using a credit card, go to http://www.krm.com/cch. To register by phone, call CCH Customer Service at 1-800-775-7654. For more information, go to CCHGroup.com/AudioSeminars.
A CD audio recording of the event and handout materials in PDF format will be available one week after the live audio seminar event. It includes a copy of a seminar bonus publication with purchase. (Note: CPE credit is not available for the CD version of the presentation.) Price of the CD is $249; combined price for the live seminar site license and the CD is $349.
About CCH, a Wolters Kluwer business
CCH, a Wolters Kluwer business (CCHGroup.com) is a leading provider of tax, accounting and audit information, software and services. It has served tax, accounting and business professionals since 1913. Among its market-leading products are The ProSystem fx® Suite, CCH® TeamMate, CorpSystem®, CCH® IntelliConnect™, Accounting Research Manager® and the U.S. Master Tax Guide®. CCH is based in Riverwoods, Ill.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal, and regulatory sectors. Wolters Kluwer had 2008 annual revenues of €3.4 billion, employs approximately 20,000 people worldwide, and maintains operations in over 35 countries across Europe, North America, Asia Pacific, and Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Visit www.wolterskluwer.com for information about our market positions, customers, brands, and organization.