Possibly Save Taxes by Switching Methods

Discuss Possibly Save Taxes by Switching Methods in the General Mangers & Dealer Principals forum at Car Dealer Forums; Dealers that currently use LIFO may want to consider changing to the new IRS Revenue ...

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Possibly Save Taxes by Switching Methods

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08-13-2008, 11:19 PM

tsmith711

Junior Member

Join Date: Aug 2008

Location: Ozark, MO

Posts: 10

Possibly Save Taxes by Switching Methods

Dealers that currently use LIFO may want to consider changing to the new IRS Revenue Procedure 2008-23 - Vehicle Pool Method. This new procedure was issued in March 2008 and is effective for tax years ending on or after December 31, 2007. Even if you have filed your 2007 dealership return you can still take advantage of this new method. For more information on this new method that may save you tax money either go to IRS.gov or email me at info@realdealersuccess.com.

Realizing you don't have a clue who I am, I thought I would add that I am a licensed CPA.

Last edited by tsmith711; 08-16-2008 at 03:49 PM.

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