At LSL were always trying to share business development strategies to help our clients run a more successful business. These ideas and strategies have proven to be effective in many different types of businesses. However, Read more…
I was at lunch last week with an automotive banker and we were discussing various issues relating to the automotive industry and within dealerships. When the issue regarding Prepaids came up, the banker said, “We Read more…
In my previous article, “The Top 5 Reasons to Move Your Books to the Cloud”, I discussed how anytime, anywhere cloud access is the future of small business accounting systems. One of the reasons cloud Read more…
Employees are generally required to substantiate their business expenses for travel, entertainment, business gifts, and the use of listed property (including cars) by adequate records as to amount, time, place, and business purpose. In the Read more…
When it comes to whether or not to spend money regarding Information Technology and the department, the question has been asked many times, and the answer is always the same; YES! Information Technology security could Read more…
Have you reviewed your pay plans lately to ensure you are getting the most out of your employees? Pay plans should be designed to maximize the goals and plans of the dealership and to direct Read more…
Everybody knows that you should do tax planning, but there is more to a tax planning strategy than saving receipts, estimating payments and updating your financial statements. While filing last year’s returns, there are additional Read more…
In the good ol’ days, determining if a business had income tax responsibilities out-of-state was as simple as asking if the business had a location in another state. But now states are becoming more aggressive in Read more…
Over the years we have told our automotive team to remember that “Cash is King;” especially when performing work relating to the review of internal controls or the review of the operations of a dealership’s Read more…
To improve profitability you must either make a larger gross margin on each dollar of sales or sell more without increasing your fixed costs. It goes without saying that the biggest improvement will occur if Read more…