Dedicated team serving the auto dealer industry

We are a full-service automotive accounting and consulting firm with a dedicated team available to serve auto dealerships. We know intimately that the ownership and management of auto dealership’s is incredibly complex with many moving parts and deserves the attention of an experienced team of consultants and automotive accounting experts.

Over our decades of practice in the Automotive Accounting industry the LSL team has accumulated a wealth of experience. From acquisition to sale, we know all the players and pitfalls and can help any auto dealership organization navigate them.

The auto dealership industry shows no sign of getting any less complex in the future, in fact the opposite is true. We believe that the Automotive Accounting Team at LSL CPAs is uniquely qualified to help you get where you want and need to go.

The relationship can begin with a phone call to (714) 672-0022 or filling out our simple contact form. You will be in good hands.

Your Automotive Accounting Team

Our team of consultants comes to us from the biggest names in the automotive industry. They have the accounting, legal and industry-specific experience to meet you where you live in the complex financial, legal and regulatory environment of auto dealerships.

Don Slater - Automotive Accounting Team Leader - 30+ years

Dave Myers CPA - Automotive Tax Partner - 30+ years

Erika Aron CPA - Automotive Manager - 15+ years

Dave Summers - Auto Dealership Consultant - 30+ years

Mark Zimmerman, JD, CPA - Automotive Director – Tax and Special Projects

Joe Abesamis CPA - Automotive Manager

Mike Mangold, CPA - Automotive Partner - 30+ years

Adam Odom CPA - Automotive Partner - 11+ years

Gabe Hurtado CPA - Automotive Supervisor

Services Provided to Auto Dealearships

LSL CPAs adds value to your daily operations as well as the future value of your dealership. Contact Don Slater, our automotive lead Partner, to schedule an operational performance review or to discuss your tax concerns at 714-672-0022.

Additional information can be found under each of the tabs, and links, below:

CompliancePerformanceStrategic
Compliance
  • Audits, Reviews & Compilations of financial statements
  • 401(k) audits for auto dealerships
  • Tax Planning & Tax Preparation for Auto Dealerships
  • 1099 reporting
  • LIFO computations and compliance
  • Comprehensive income & estate tax planning & projections
  • Unclaimed property laws (Escheatment)
  • Demo allowance calculations
  • 8300 compliance
  • Commission/payroll calculations
  • SWIM and VSC elections
  • Used car write-downs
  • Tax planning & structuring for complex business transactions
  • Uniform capitalization
  • Tax consulting on mergers & acquisitions
Performance
  • Analytical & management/CFO advisory services
  • Budgeting & forecasting
  • Operational reviews
  • Financial planning
  • Outsourced CFO/Controller services
  • Capital expenditure & finance planning
  • Gross profit margins & pricing support
  • Specialized services referrals (cost segregation, business valuation)
  • Production policies & procedures
Strategic
  • Merger & Acquisition strategies
  • Succession planning
  • Strategic planning
  • IT strategic planning
  • New location or expansion planning
  • Real estate strategies for tax purposes
  • KPI reporting development and interpretation – tax impacts
  • Ongoing owner/board advisory

Related reading about Automotive Accounting…

  • Do Operating Leases Belong on the Balance Sheet? Do Operating Leases Belong on the Balance Sheet?If you are automotive dealership or part of an automotive group, chances are that you have several operating leases that will soon (2020) be required to be recorded on the balance sheet as an asset due to FASB’s recently issued ASU No. 2016-02, Leases, Topic 842.  This new professional standard requires you to record a right-of-use asset and a lease liability reserve on all operating leases longer ...
  • OCADA Annual Meeting OCADA Annual Meeting Every year the automotive accounting group at LSL attends the Annual OCADA Meeting. OCADA is the place where automotive dealers and accounting professionals can meet to discuss the latest developments in compliance, critical processes, and leadership. LSL’s Automotive Team is excited to listen to speaker and former Blue Angel, John Foley, as he discusses critical thinking skills that work in a dynamic environment, as well as what it takes ...
  • Will Information Technology (IT) Help Me Sell Cars? Will Information Technology (IT) Help Me Sell Cars?When it comes to whether or not to spend money regarding Information Technology (IT) and the  IT department, the question has been asked many times, and the answer is always the same: YES! Information Technology security could potentially save your business. Spending time on a well thought out Information Technology plan should be a “No-Brainer.” Here are a few potential areas of interest / consideration: 1. Malware / Ransomware: Lately ...
  • In the Auto Industry, Cash is King! In the Auto Industry, Cash is King!Cash is King! Over the years I 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 accounting department. I emphasize the importance on finding out first whether or not the bank accounts are being reconciled, adjusted, and reviewed timely. I furthermore stress the importance that all ...
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