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March 2009
Dealerships: Is It Still A Good Time for Estate Planning?
By Tony Argiz, CPA/ABV/CFF, ASA, CVA, CFE (targiz@mbafcpa.com) and Alfred Zeiler, AIBA (azeiler@mbafcpa.com)
The stock market has been reeling for more than a year and its performance during the first part of 2009 indicates that a recovery is not just around the corner.
The Dow Jones Industrial Average fell 4,488 points, or 34 percent, in 2008. Through Jan. 27, the Dow was down another 602 points, or 7 percent. On President Barack Obama’s inauguration day alone the Dow fell 332 points, or 4 percent. Market declines on inauguration days are not unusual. But this year’s was more than twice the second largest drop of 1.9 percent--on Ronald Reagan’s first inauguration day of Jan. 20, 1981.
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| Contact us: | |
| Tony Argiz, CPA/ABV, CVA, ASA, CFE Managing Partner targiz@mbafcpa.com |
Ira Silver, CPA |
|
Marc S. Dickler CPA |
Mark Thaw, CPA/ABV, CVA Partner mthaw@mbafcpa.com |
|
Manuel Rodriguez, Jr., CPA |
Phil Villegas |
The purpose of this newsletter is to provide general information on tax, audit and other issues related to the automobile dealership industry. The information contained herein may not apply to all businesses or organizations and their specific circumstances. Dealerships are encouraged to consult directly with an accounting expert before making tax and accounting decisions.
