The COVID-19 pandemic has created an economic downturn of a severity seldom experienced in our nation. Many businesses, including dealerships, have turned to government and business loans to help keep them up and running. But there may be other sources of cash, right in your own business, that also should be explored.
Dealership owners, understandably, want themselves and top executives to be compensated fairly for their work, results, and interest. So how do you achieve that goal without attracting undue IRS scrutiny and claims of inappropriate compensation?