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(MOUNT PROSPECT, IL, January 5, 2011) – For many years, professional
advisors to auto and truck dealers and dealerships and internal dealer
tax and accounting staff have benefitted from audio seminars and other
presentations by Willard J. De Filipps, CPA.
On
January 25, 2011, Willard De Filipps will present a 3-hour audio seminar
to discuss changes and developments of significance during 2010 for
dealerships, their CFOs and their CPAs. This presentation …
Sec. 263A Cost Cap & Other Dealership Year-End Tax Planning Issues
… expands his previous series of Year-End Dealer Tax Update: Tax
Strategies and IRS Activities audio seminars.
This
presentation will begin at 1 p.m. Eastern; 12 p.m. Central; 11 a.m.
Mountain; 10 a.m. Pacific. To register, please visit
www.krm.com/WJD.
Mr.
De Filipps will discuss the important new Revenue Procedure that affects
all automobile and truck dealerships. Revenue Procedure 2010-44
(announced just weeks ago by the IRS) culminates a 5-year running,
confused battle between the IRS and the auto dealership industry.
Finally, there is some relief … but, not without some significant
complications that must be carefully considered before finalizing
2010 dealership income tax returns.
His
presentation will provide the opportunity for participants to obtain the
benefit of Mr. De Filipps’ conclusions, practices and his practical
suggestions for dealing with the Form 3115 filing intricacies and
include ample time for questions and answers.
Although discussion of
this Revenue Procedure will be the major component of the 3-hour audio
seminar, this program also includes Mr. De Filipps’ annual “Year-End
Dealer Tax Update” which covers other recent, significant dealership tax
issues and developments.
Topics
Include
…
•
Overview of IRS changes and developments of significance during 2010 for
dealerships
•
The IRS’ New Section 263A Safe Harbor Rules for dealership cost
capitalization … including complete analysis of Rev. Proc. 2010-44 and
practical suggestions for assisting dealerships
•
Filing Form 3115 for accounting method changes, including those required
by Rev. Proc. 2010-44
•
Tax treatment of manufacturer payments and reimbursements to dealerships
for facilities and image upgrades
•
Writing off intangibles (franchise costs, goodwill, etc.) for terminated
dealerships/ franchises
•
Strategies for maximizing LIFO benefits for continuing dealerships
•
Termination of LIFO elections for dealerships
•
Elimination of trade discounts and certain advertising fees from
inventory costs
•
Time for Questions & Answers
Participants are invited to review the
Indexes of Articles appearing in Mr. De Filipps’ publications (the
Dealer Tax Watch and the LIFO Lookout) available at
www.defilipps.com and select other topics or issues that they would like
to submit during the Question & Answer segments that will be included as
a portion of the presentation.
About the Speaker
Willard De Filipps, CPA is recognized as one
of the nation’s leading experts in dealership tax issues and the
application of the LIFO inventory method to automobile and truck
dealerships.
He is
widely appreciated and recognized for his astute analysis of current
developments and, more importantly, for his willingness to share his
conclusions, practices and practical suggestions with other
practitioners in a meaningful way.
In
previous audio seminars, Will De Filipps has been described as “the
perfect person to address the many special tax-related challenges auto
dealers face.”
He is
a frequent speaker at national association meetings and conferences,
including NADA and AICPA.
Mr.
De Filipps’ most recent presentation at the AICPA National Auto
Dealership Conference which took place October 21-22, 2010 in Phoenix,
AZ, was entitled “The Practitioner’s Nightmare: Uncertainty &
Dealership Tax Issues - Opportunities & Pitfalls Lurking in Current
Critical Tax Issues.” Attendees at Mr. De Filipps’ AICPA presentation
rated his knowledge of the subject matter at 4.8 and the relevance of
his material at 4.7 (out of a possible 5).
For
CPA firms that specialize in the auto dealership niche, Mr. De Filipps
writes two publications: the LIFO Lookout (written since 1991)
and the Dealer Tax Watch (written since 1994). Both publications
analyze current IRS rulings and guidance, court decisions and IRS audit
activities that affect dealerships. Mr. De Filipps’ publications also
provide commentary, Practice Guides and strategic planning observations
based on his extensive practice and experience. Searchable Indexes of
all articles and Practice Guides appearing in both publications are
available at www.defilipps.com.
Mr.
De Filipps’ foresight and desire to benefit fellow practitioners is
attested to by the fact that he conceptualized, developed and actively
participated in three different “Dealer-CPA 20 Groups” … the AutoCPA
Group (the first ever Dealer-CPA 20 Group, 1987), and subsequently, the
Driving Force Auto Consulting Group (1995) and the National Alliance of
Auto Dealer Advisors (1995). All three Groups continue to meet
regularly to provide benefits for their member firms.
Mr. De Filipps’ firm also
provides LIFO calculations for auto
dealerships and CPA firms using SuperLIFOtm
software which provides more detailed reports than any other provider of
LIFO calculation services.
How the Audio Seminar
Works
Willard De Filipps’ live audio seminars require
nothing more than a telephone connection. For the $349 per-site fee, an
unlimited number of listeners at a site can participate and be updated
on these important topics.
Continuing Professional
Education Credit
Three hours of CPE
credit are also available for the seminar for an additional $25 for each
person wishing to receive a CPE certificate for participation in the
seminar.
Objective: Practical discussions of changes and developments of
significance during 2010 for automobile & truck dealerships and their
CPAs
Seminar
Format: Audio lecture with “Questions & Answers” throughout the
session
Course
Level: Basic to Intermediate
Field of
Study: Specialized Knowledge & Applications (automobile & truck
dealerships)
Advance
Preparation: No advance preparation is required
Prerequisite: At least one year’s experience with automobile and/or
truck dealerships
Seminar
Leader & Course Developer: Willard J. De Filipps, CPA, editor and
publisher of the Dealer Tax Watch and the LIFO Lookout
Recommended CPE Credit: 3 hours
To Register,
please go to
www.krm.com/WJD.
Event Recording Available
An On Demand Audio
Recording of the event and handout materials in PDF format will be
available for purchase at
www.krm.com/WJD. (Please note that CPE credit is not
available for the On Demand Audio Recording version of the
presentation.)
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 $349. |
Contact Information