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Willard J. De Filipps, CPA
Consultant to Auto Dealer CPAs and Seminar Leader

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2/3/2012

 

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2011  Year-End  Dealer  Tax  Update

Tax  Strategies  &  IRS  Activities

Date:  January 25, 2012 …   1 p.m. Eastern; 12 p.m. Central; 11 a.m. Mountain; 10 a.m. Pacific. 

In his annual update, Willard J. De Filipps, CPA, will provide discussion of the latest developments affecting a broad range of dealership tax issues.  This 3-hour presentation will also update participants on emerging IRS audit issues and on major developments affecting some of the topics included in De Filipps University audio seminars that were presented earlier this year.  This update course will provide in-depth, up-to-date, practical information to CPAs (and dealership controllers).  After completing this general review/update course, participants will be able to more competently discuss, analyze and act on tax issues and strategies, planning opportunities, pitfalls and perils that affect their dealership clients with regard to the Program Content topics below. 

Program Content & Topics to Be Covered Include

        ▪   Taxability of manufacturer payments and reimbursements to dealerships for facilities and image upgrades, with special emphasis on the General Motors EBE (Essential Brand Elements) Program

            Overview of significant 2011 changes, tax cases and IRS guidance and developments

        ▪    Section 263A Cost Capitalization Safe Harbor Rules

        •    Follow-up on Forms 3115 filed in 2011 to make Section 263A safe harbor elections for 2010

        •    Sec. 263A computations for purchasing activities and for operations & activities not covered by the safe harbor elections

        ▪    Franchise terminations:  Writing off intangibles … franchise costs … goodwill … non-compete covenants, etc.

        ▪    LIFO inflation indexes for 2011 … What to expect

        ▪    Planning strategies for maximizing LIFO benefits for continuing dealerships.  Terminating LIFO elections for other dealerships

        ▪   Overview of significant 2011 changes, tax cases and IRS guidance and developments affecting dealer/dealership tax practices, including IRS’ C2R (Sec. 263(a)) initiative

Ample time will be provided for participant questions and answers.  Please e-mail questions in advance of the seminar to cpawjd@aol.com

 

Please visit www.krm.com/wjd to register.

 

How De Filipps University Audio Seminars Work

Willard De Filipps’ live audio seminars (teleconferences) require nothing more than a telephone connection.  For the $329 per-site registration fee (per seminar), an unlimited number of listeners at a site can participate and be updated on these important topics.

Certificates of Completion / Attendance Confirmation Certificates are available.  For each seminar, one (1) Certificate of Completion /Attendance Confirmation Certificate (which can be used for CPE purposes) is included in the site registration fee.  Additional Certificates may be purchased for any participant listening at your site for an additional fee of $25 per Certificate

 

Recommended Continuing Professional Education Credit … 3 Hours for Each Seminar

Field of Study:  Taxes … For this seminar, applications are exclusively for automobile and truck dealerships.

Learning Objectives:  This update course will provide in-depth, up-to-date, practical information to CPAs (and dealership controllers).  After completing this general review/update course, participants will be able to more competently discuss, analyze and act on tax issues and strategies, planning opportunities, pitfalls and perils that affect their dealership clients with regard to the Program Content topics above. 

Program Content Topics:  See above.

Program Level:  Update.       

Program Prerequisites:  None. 

Advance Preparation Needed:  No advance preparation is required.  Detailed course outlines and supplementary reference materials are provided to participants prior to the presentation. 

Delivery Method(s):  Group-Live Teleconference (i.e., Audio Seminar) with “Question & Answer” time provided throughout the session.  To hear this live Teleconference / Audio Seminar, participants need only a telephone connection.  An Internet connection and the URL and valid course code (which will be provided prior to the live presentation) are necessary in order to access and print the course materials.  (If an Internet connection is not available, materials can be transmitted via other means [fax, US mail, etc.] to participants.)

Recommended CPE Credit: 3.0 hours* (Please note that one 50-minute period is equal to one CPE credit.)

Course Registration Requirements:  None, other than registration through www.krm.com/wjd (or 800-816-2640) and payment of the $329 per-site registration fee (per seminar).  An unlimited number of listeners at a site can participate and be updated on these important topics. 

For more information regarding Refund, Complaint and Program Cancellation Policies, please contact our offices at (847) 577-3977. 

 

Willard J. De Filipps, CPA, PC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing education on the National Registry of CPE Sponsors.  State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.  Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors though its website:  www.learningmarket.org

 

Program Recordings Available

 

An On Demand Audio Recording of this program (which includes a copy of Mr. De Filipps’ detailed presentation outline and supplementary reference materials in PDF format) will be available for purchase on the "Recordings" tab at www.krm.com/WJD following the live airing of the presentation. 

 

The price for accessing this On Demand Audio Recording is $129 for seminar registrants; for non-registrants, the price for the access to this Recording is $329.

 

Restrictions:  De Filipps University On Demand Recordings are not available for purchase by individuals / firms who are residents of Illinois.  Also, CPE attendance confirmation certificates are not available in connection with the On Demand Audio Recording versions of these presentations.

 

 

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    Contact Information

Telephone                                                FAX
847-577-3977                                            847-577-1073
Postal address
317 West Prospect Avenue, Mount Prospect, Illinois  60056
Electronic mail
General Information: cpawjd@aol.com

Send e- mail to cpawjd@aol.com with questions or comments about this web site.
Copyright © 2012 Willard J. De Filipps, CPA, P.C.