Jonathan Cook, Senior II, Tax Services

Recent Posts

The playbook on family

Posted by Jonathan Cook, Senior II, Tax Services on May 25, 2017

As any dealer will tell you, running a successful dealership is already challenging enough without managing the risk of family dramatics spilling over into the day-to-day operations. To get ahead of these types of risks, you must make the separation of business and family unmistakably clear. A formal, written family employment handbook is one way to do this.

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Topics: Auto, Accounting Tips, Tax, Audit

Make fringe benefits a symbiotic relationship

Posted by Jonathan Cook, Senior II, Tax Services on May 25, 2017

None of your competitors will shed a tear at your employee turnover rate. They want the most talented staff, and poaching your best becomes a lot easier if you have lacking fringe benefits that competitors can thrust into the limelight. According to the National Automobile Dealers Association (“NADA”), in 2016, there was a worrying overall turnover rate of 40% at dealerships. Even worse, the NADA reported that turnover among salespeople in 2016 was a daunting 72%.

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Topics: Auto, Accounting Tips, Tax, Audit

Checking the background of new hires

Posted by Jonathan Cook, Senior II, Tax Services on Jan 26, 2017

A monthly average of 178,000 employees were added to employer’s payrolls in the United States in 2016, according to an “Employment Situation Summary” released by the U.S. Bureau of Labor Statistics. Further, significant averages of new hires per month are projected to continue into 2017.

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Topics: Accounting Tips, Tax, Audit

Vehicle Recalls

Posted by Jonathan Cook, Senior II, Tax Services on Oct 19, 2016

Making the best of a bad situation

The National Highway Traffic Safety Administration has reported that more than 8.4 million airbags have been replaced due to recalls in the past two years, and that number continues to grow. The avalanche of defective airbag recalls was catalyzed in 2015 by numerous incidents of injury or death during vehicular collisions, caused by flying metal shards launched from airbags manufactured by a specific Japanese supplier.

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Topics: Auto, Accounting Tips, Tax