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I.

DEALER TAX WATCH

INDEX OF ARTICLES: JUNE, 1994 - DECEMBER, 2009

PAGE 17

ACCOUNTING & TAX ISSUES (continued)

INVENTORIES (continued)

COST - ELIMINATION OF TRADE DISCOUNTS & ADVERTISING FEES & EXPENSES FROM COST

2006 AICPA Auto Dealership Conf. IRS MVTA Update Comments Discussion in NADA’s Revised Dealer Guide to Federal Tax Issues

..........................December, 2006.........pg. 21 ..........................September, 2006 ........pg. 21

Trade Discount Elimination & LIFO Eligibility ...........................................................December, 2005.........pg. 3

2004 NADA Workshop Summary Report ....................................................................March, 2004...............pg. 5

2003 AICPA Auto Dealership Conf. IRS MVTA Update Comments

..........................December, 2003.........pg. 11

CAMs for Trade Discounts, Floorplan Assistance, Advertising Fees & Expenses *....September, 2003 ........pg. 10

Trade Discount & Advertising Expense CAMs May Be the Answer for Dealers Looking for Big, One-Time Tax Write-Offs (Watch Out #5)* ...............................December, 2002

.........pg. 3

COST - LOWER OF COST OR MARKET (LCM) WRITEDOWN VALUATIONS

2009 NADA Convention … Dealer Tax Update by the IRS MVTA* Used Vehicle Writedowns .......................................................................................Mid-Year, 2009 .........pg. 14 New Vehicle Writedowns........................................................................................Mid-Year, 2009 .........pg. 14 West Covina Motors, Inc. … Aggressive Dealership Deductions Disallowed* Used Vehicle (Lower-of-cost-or-Market) Writedowns ...........................................Mid-Year, 2009 .........pg. 28

W e Automotive Alert Tax Court Rules on Inventory Writedowns: s t C o v i n a M o t o r s , I n c . ( J a n u a r y 2 0 0 9 ) ..........................................................

M i d - Y e a r , 2 0 0 9

.........

p g . 3 6

Determining the Cost Basis for Trade-Ins (IRS Retail Industry Audit Technique Guide) ......Mid-Year, 2009 .........pg. 38 Trade-In Valuation and LCM Adjustments (IRS Retail Industry Audit Technique Guide)....Mid-Year, 2009 .........pg. 39

Used Vehicle Writedown Worksheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . P G . . . M i d - Y e a r , 2 0 0 9 p g . Revised Procedures for Securing Automatic Consent from the IRS to Make Changes in LIFO and Other Methods of Accounting (Rev. Proc. 2008-52)* ........................Year-End, 2008..........pg. 14 4 ......... 0

Section-by-Section Analysis....................................................................................Year-End, 2008..........pg. 24

Automatic CAMs Related to Changes in the Official Used Vehicle Guide Utilized in Valuing Used Vehicles .......................................................

.............Year-End, 2008..........pg. 36

Used Vehicles … Year-End Writedown Documentation Worksheet .................. PG...December, 2006.........pg. 11 Used Car Write-Downs (IRS Industry Specialist Update) * .........................................December, 1999.........pg. 4

W r i t e - D o w n s o f D e m o n s t r a t o r s a t Y e a r - E n d : T h e I R S S a y s N o L T R 9 5 2 2 0 0 2 . . . . . . J u n e , 1 9 9 5 . . . . . . . . . . . . . . . . . . p g . 3

COST - UNICAP - UNIFORM INVENTORY COST CAPITALIZATION REQUIREMENTS (SEC. 263A)

  • See Section II. UNICAP - UNIFORM INVENTORY COST CAPITALIZATION REQUIREMENTS

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