Automotive & Dealerships

Dealership accounting is fundamentally different from standard business accounting. It involves LIFO inventory conformity, floor plan financing, departmental profit analysis (new, used, F&I, service, parts), manufacturer-specific reporting requirements, and DMS integration. General CPAs typically lack the expertise to handle these requirements properly, which can result in missed tax savings and compliance issues.

LIFO (Last In, First Out) is an inventory valuation method that allows dealerships to reduce taxable income by matching current revenue against the most recently acquired (and typically most expensive) vehicle inventory costs. Proper LIFO implementation and annual calculations can defer significant tax liabilities for dealerships with growing inventory values.

Yes. SMAART provides full buy-sell advisory including Blue Sky valuations, financial due diligence, deal structuring, tax impact analysis, and manufacturer approval support. We represent both buyers and sellers and have deep experience navigating the unique requirements of automotive transactions.

Absolutely. We specialize in consolidated reporting for multi-rooftop groups, including inter-company reconciliation, group-level financial analysis, and manufacturer-specific compliance across multiple OEM brands.

Factory audits are manufacturer-initiated reviews of dealership financial records, incentive claims, warranty claims, and sales practices. SMAART prepares your documentation in advance, identifies potential exposure areas, and provides expert support throughout the audit process to protect your dealership from chargebacks and penalties.