Author Archives:
Phillip Kuchek

Recent changes in Tennessee tax law now allow businesses to claim refunds for franchise taxes on previous payments. On May 10, 2024, Public Chapter 950 was signed into law, eliminating the property measure from the franchise tax calculation. Starting January 1, 2024, businesses will calculate franchise taxes based only on net worth, simplifying the process and potentially lowering tax liabilities.

The automotive industry has long been a source of consumer frustration, with dishonest dealerships using deceptive practices and hidden fees to cloud the car-buying process. To address these issues, the Federal Trade Commission (FTC) introduced the Combating Auto Retail Scams (CARS) Rule in December 2023, a comprehensive set of regulations designed to protect consumers from unscrupulous dealerships. Initially scheduled to take effect in July 2024, it has faced legal challenges that have temporarily delayed implementation. However, its underlying principles remain vital for ensuring a fair and transparent car-buying experience.

The 2024 legislative session in Georgia concluded on March 28th, marking a significant period of legislative activity that promises to reshape the state’s financial landscape. During this session, the General Assembly passed several tax bills, including a substantial $500 million in tax cuts for both individual and corporate taxpayers in Georgia. Additionally, several constitutional referendums will be placed on ballots, giving voters a direct say in the state’s tax policies.

There are several new clean energy tax incentives available to construction companies in 2023 thanks to the Inflation Reduction Act. To qualify for the highest savings possible, taxpayers need to meet new prevailing wage and apprenticeship requirements. Unfortunately, the necessary guidance to allow compliance had not yet been issued. The good news is the IRS recently issued  Notice 2022-61, which provides important guidance for builders, contractors, and developers, to understand how to meet the new rules.

The unwelcome news that the delta variant has caused an unexpected increase in the number of new COVID-19 infections in Atlanta has stirred up concern amongst business owners. Many are wondering if the restrictive government orders which wreaked havoc on so many last year will make a return. There is a concern about how businesses will manage without the benefit of the Small Business Administration’s (SBA) most popular COVID-19 program, the Paycheck Protection Program (PPP). Since recent updates to the forgiveness process reveal the SBA is looking to shut down the program, it is clear additional funding will not be allocated.

The start of a new year is a time of renewed vigor, increased energy and broad optimism. Capitalizing on this, many businesses have carefully reviewed strategy, established tactics, set the budget and are now focused on execution. While specific opportunities vary by company size and industry, the goal is almost always the same – to increase growth and revenue. 

Atlanta auto dealerships are required to manage multiple variables on the path to growing and sustaining profitability and success. Attention needs to be focused not only on new and used car sales, but also on financing, sale of insurance products such as extended warranties and service department opportunities. Beyond this, intangible factors such as economic strength, interest rates and borrowing standards can have an impact on dealership performance. The convergence of these variables and how they are managed are a strong indicator of how well a dealership will perform. As the first quarter of 2019 draws to a close, there are important trends that auto dealers need to consider and accommodate to maximize growth potential.

The outlook for the automobile dealership industry appears to be growing dimmer as 2019 approaches. This downturn comes on the heels of a relatively positive outlook during Q3. According to the Cox Automotive Dealer Sentiment Index (CADSI), there are rising concerns about the level of used car inventory, the impact of rising interest rates and overall weakening market conditions.