Auto dealers across the country have adopted the Net Inventory Method for tax and book purposes to reduce taxable income (RTI) as it relates to inventory cost. After filing a pre-approved change in accounting method (CAM) with the IRS, dealers will receive the benefits listed below in the year of change.
Arizona Chevrolet dealer Reduced Taxable Income (RTI) by $ 563,562.00. An average RTI of $ 1,127.00
per vehicle held in year ending inventory.
California Porsche dealer Reduced Taxable Income (RTI) by $ 474,820.00. An average RTI of $ 3,710.00
per vehicle held in year ending inventory.
Texas Ford dealer Reduced Taxable Income (RTI)
by $ 900,413.00. An average RTI of $1,385.00
per vehicle held in year ending inventory.
Indiana Dodge Chrysler Jeep Ram dealer Reduced Taxable Income (RTI) by $ 523,320.00. An average RTI of $ 885.00 per vehicle held in year ending inventory.
Nevada Mazda dealer Reduced Taxable Income (RTI)
by $ 564,460.00. An average RTI of $ 1,112.00
per vehicle held in year ending inventory.
Ohio Mitsubishi dealer Reduced Taxable Income (RTI) by $ 305,447.00. An average RTI of $ 1,061.00
per vehicle held in year ending inventory.
Indiana Dodge Chrysler Jeep Ram dealer Reduced Taxable Income (RTI) by $ 523,320.00. An average RTI of $ 885.00 per vehicle held in year ending inventory.
Oregon Volvo dealer Reduced Taxable Income (RTI)
by $ 836,936.00. An average RTI of $ 3,607.00
per vehicle held in year ending inventory.
Virginia Honda dealer Reduced Taxable Income (RTI)
by $ 358,803.00. An average RTI of $ 705.00
per vehicle held in year ending inventory.
LIFO Benefits for Autodealers
214-350-8197
Phone +1 214 350 8197
Fax +1 214 242 3555
info@greenoutsourcing.com
Green Outsourcing
4319 Enfield Drive, Suite 101
Dalas, TX 75220
Phone +1 214 350 8197
Fax +1 214 242 3555
info@greenoutsourcing.com
