Since 1984, Downey and Company CPA’s have been servicing the tax, accounting, and consulting needs of auto dealers throughout the United States. Selecting a CPA – one who is knowledgeable in dealership finance, accounting, management and taxation can be one of your most important decisions.
We assist owners in evaluating the acquisition process when they are purchasing a new dealership or when they are obtaining an open dealership point. We will help with structuring the purchase price, preparing projections, obtaining financing, and working with the owners to complete those cumbersome factory applications. To get more information from one of Downey & Company’s auto dealer experts, click here.
The 21st century has brought rapid change to the automobile dealership industry. Dealers need competent financial advisors to help them through these changing times. A CPA firm that services auto dealer clients can offer invaluable insight to dealers and their staff. Surprisingly, many auto dealers work with CPA firms that service less than five dealerships. Industry expertise comes from years of experience working with a significant number of clients (50 or more). CPA’s with this type of experience can provide vital business advice to a dealer.
Dealers produce complicated financial statements, use unique accounting and tax methods, and have specialized computer software systems. These are difficult concepts for CPA’s that do not specialize in auto dealerships. A CPA firm that has such experience can assist a dealer in many accounting and non-accounting ways. These include devising tax strategies, advising the dealer on financial improvements to the store, buying or selling a dealership, helping develop estate and succession plans, and introducing the dealer to other industry specific professionals.
At Downey & Company, our professional staff offers numerous years of experience with auto dealerships. We strive to provide “more than just the numbers” to our clients by developing procedures that highlight area of particular interest and concern to dealers. The need for an auto dealership CPA firm that understands the automotive business is more important than ever. Downey & Company has over seventy dealership clients and 30 years of continuous service.
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Downey & Company is a member of the National Alliance of Auto Dealer Advisors (NAADA). Downey & Company is the only accounting practice in Massachusetts, and one of only twelve practices in the nation, selected as a member of this prestigious group. NAADA was created to provide leading accounting and consulting firms specializing in servicing the needs of auto dealers with a unique venue to discuss issues affecting the profitability of auto dealers.
For more information on our auto dealership CPA services, please contact Paul McGovern at pmcgovern@downeycocpa.com or at 800.849.6022.
