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At Bennett Accounting & Tax LLC, we offer specialized financial services tailored to the unique needs of used car dealerships. From managing inventory accounting methods to understanding complex tax regulations, our bookkeeping, payroll, and tax preparation services help dealerships streamline their financial operations. We also ensure compliance with key tax rules, such as LIFO inventory accounting and the safe harbor provisions under Section 263A capitalization.
One of the most important aspects of financial management for a used car dealership is inventory accounting. Many dealerships benefit from using the Last-In, First-Out (LIFO) method to manage their inventory and reduce taxable income. Our services include:
Section 263A, also known as the Uniform Capitalization (UNICAP) rules, requires businesses to capitalize certain costs related to inventory. However, used car dealerships can take advantage of safe harbor provisions that simplify compliance with these rules. Our services include:
Alongside inventory and capitalization strategies, we offer full-service tax preparation tailored to the needs of used car dealerships:
By partnering with Bennett Accounting & Tax LLC, used car dealerships gain access to expert financial management solutions, including the LIFO inventory method and Section 263A compliance. Our services help you focus on growing your dealership while we handle the complexities of tax preparation and accounting.
If you’re looking for a Certified Public Accountant to provide tax preparation, bookkeeping, or payroll services, we’re here to help!
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Assistance with accounting and taxes ensures that tax obligations are met while maximizing your financial efficiency for small businesses, individuals, and large corporations alike. Below are some of the avenues where our team can help your business find success.
We help clients from all across the United States plan ahead for tax season. If you’re looking to minimize your tax liability and avoid overpaying the IRS, we’re ready to help.
Contact us now to discuss your tax situation with a Certified Public Accountant (CPA).
We assist clients in a wide range of industries at different stages of their lives and businesses. Below are some of the clients our practice continues to support to this day.
It's reassuring to have such reliable and personable professionals handling my financial matters.
Bennett Accounting & Tax LLC is a first-rate remote Certified Public Accounting firm. Whether it’s bookkeeping, payroll, or taxes — we’ve got you covered.