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How Revenue Recognition Is Impacting Buy Here – Pay Here Dealers

Posted 3:00 PM by
When the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers, it represented perhaps the most extensive changes to accounting standards for revenue recognition ever. Experiencing a number of revisions and amendments since its issuance, the new guidance is effective for calendar years ending Dec. 31, 2018 for public companies and Dec. 31, 2019 for nonpublic companies; however, many have delayed analyzing how significantly the updated standards will impact their business.
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Shifting Lanes: How Updated Lease Accounting Standards Are Affecting Dealerships

Posted 7:26 PM by
Most auto dealers participate in leasing in some way, whether they are leasing a building or equipment, operating as a lease here – pay here (LHPH), or are lessors of real estate. That means nearly all auto dealers will be impacted by the Financial Accounting Standards Board’s (FASB) update to the accounting standard for leases under U.S. generally accepted accounting principles (GAAP). The updated standard, which will take effect for private companies for fiscal years beginning after Dec. 15, 2019, will affect both lessors and lessees in different ways.
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2018 NIADA/NABD Convention Recap

Posted 6:00 PM by
This past June, a record number of attendees descended upon Orlando’s Rosen Shingle Creek Resort for the combined National Independent Automobile Dealers Association (NIADA) / National Alliance of Buy Here, Pay Here Dealers (NABD) Convention & Expo. Consistent with prior conventions, the NIADA set out to fuse best practice counseling with emerging topic coverage for the used car industry, including the BHPH sector. Below are some key takeaways from the event.
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Indiana Sales Tax Reminders for Buy Here – Pay Here Dealers

Posted 5:00 PM by
There are some unique Indiana sales tax rules and regulations that apply to Buy Here – Pay Here (BHPH) dealers. It is important that dealers understand the difference between a vehicle return and a vehicle repossession, as well as the impact a related finance company (RFC) can have on the dealer’s ability to recover sales tax related to bad debt charge-off.
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Tax Reform’s Impact on the Buy Here - Pay Here World

Posted 5:00 AM by
Like it or not, tax reform is here, and its impact is far-reaching. President Trump signed the Tax Cuts and Jobs Act (TCJA) into law on Dec. 22, 2017. The Act includes various provisions that Buy Here - Pay Here (BHPH) dealers should know. As we study and digest these changes, there are numerous questions and situations that the law itself does not clearly address. Technical corrections will likely be made by Congress as well as regulations issued by the IRS throughout 2018.
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Year-End Planning for Buy Here – Pay Here Operators

Posted 6:00 PM by
As the calendar turns to December, it is time to consider year-end planning opportunities and issues. While this article primarily addresses tax planning, there are other items to consider as well.
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Preparing Your Buy Here – Pay Here Dealership for a Pain-Free Audit

Posted 4:00 AM by
If your Buy Here – Pay Here (BHPH) dealership has bank debt, there is a good chance your lender requires you to have a financial statement review or audit. With 2017 winding down, now is the time to evaluate your year-end closing checklist to help ensure a pain-free audit. Below are a few tips to make your upcoming audit a success.
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Buy Here - Pay Here Update: Lenders Continue to Pull Back on Subprime Auto Lending

Posted 12:47 PM by
Many media outlets have reported about the imminent subprime auto loan bubble burst, warning that the economy is set on a collision course for the next big credit crisis. While some Buy Here-Pay Here (BHPH) operators are bracing for impact, others see this as a sign that the worst is behind them and of opportunities ahead.
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Hot Topics from National Alliance of Buy Here, Pay Here Dealers’ 2017 National Conference

Posted 5:07 PM by
Members of Katz, Sapper & Miller’s Buy Here - Pay Here (BHPH) Services Group recently attended the National Alliance of Buy Here, Pay Here Dealers' (NABD) 2017 National Conference in Las Vegas, NV – one of the largest industry conferences in the U.S. The 19th annual event addressed the following developments and trends affecting BHPH dealers.
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KSM’s Buy Here – Pay Here Group to Exhibit at NIADA 2016 Convention and Expo

Posted 4:00 AM by
Katz, Sapper & Miller’s Buy Here – Pay Here (BHPH) Services Group will be exhibiting at the National Independent Automobile Dealers Association’s (NIADA) 2016 Convention and Expo June 13-16 in Las Vegas, Nev.
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