Change in inventory method for car dealership
What are the tax implications for changing a car dealerships inventory method from the Lifo method to the Fifo method? Can the tax implication be spread over 10 years?
Is their any information available regarding the sale of a car dealership being sold? What is the impact of the Lifo reserve on the sale of the car dealership?
Lastly, is their any research material available for the sale of a corporation car dealership that has multiple dealerships? I would like to know what happens when select car dealerships are sold and others dealerships remain with the corporation. Do the Lifo reserves stay retained with the remaining car dealerships? I had previsously posted this thread before and got a response. However, someone deleted the thread before I could read the response.
Last edited by rwoolslayer : 12-23-2013 at 09:45 AM.