Patrick Reilly, CPA, Partner, Assurance Services

Patrick joined LGT in 2003 and has an emphasis on SEC, auto dealerships, and finance companies. His responsibilities include project management for audit and accounting engagements, as well as compliance auditing. Patrick plans and supervises the staff on engagements, reviews field work, and prepares/reviews financial statements and is heavily involved in static pool reviews, evaluations, and consulting with Buy-Here-Pay-Here, Lease-Here-Pay-Here dealers, lease operators, and finance companies.

Recent Posts

Are you ready for the new overtime rules?

Since the 1930s, U.S. businesses have relied on rules detailed in the Fair Labor Standards Act ("FLSA") to determine which employees are eligible to receive overtime pay. These rules are scheduled to change on December 1, 2016, for the first time in more than a decade.

Read More

Topics: Auto, Accounting Tips, Tax

Is Your Company Ready to Bring on a CFO Or Controller?

Bringing on a CFO or a controller to handle the financial operations at an auto dealership is a big decision, and there a number of factors that management must consider, including the dealership’s size, the benefits of the hire and the time and money involved in such a commitment.

Read More

Topics: Auto, Accounting Tips

“Capitalizing” on the New IRS Safe Harbor Rules

As most may know, the IRS does not have a materiality threshold when it comes to items on which they can enforce a ruling, but there are some ways to protect your company when the IRS comes calling for an audit. One of those is by establishing a capitalization policy for your company using the IRS de minimis safe harbor limits.

Read More

Topics: Auto, Accounting Tips