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#407 - 5 CRITICAL YEAR-END TASKS FOR DEALERS BEFORE 2026

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Manage episode 521445216 series 3136173
Content provided by Jeff Watson & Luke Godwin, Jeff Watson, and Amp; Luke Godwin. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Jeff Watson & Luke Godwin, Jeff Watson, and Amp; Luke Godwin or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

End of the year creeping up on you? 😅 Don't be that dealer scrambling on December 30th!In this episode, Jeff and Luke break down the 5 ESSENTIAL year-end moves every independent dealer needs to make before December 31st. From tax strategy to portfolio cleanup, these time-sensitive tips could save you hundreds of thousands.🎯 What We Cover:✅ Why you need to meet with your CPA NOW (not January)✅ Portfolio cleanup: How to rip the band-aid off and start 2026 clean✅ The inventory audit that reveals missing cars and hidden money✅ Inventory write-downs: The "Voila Method" that makes cars sell immediately✅ Reinsurance compliance checkup before year-end✅ Equipment depreciation strategies (rollbacks, repo trucks, and more)✅ Strategic planning: How to map out a killer 2026💡 KEY TAKEAWAY: That car sitting on your lot for 6 months? It's not a turd - there's just no money in it for your salespeople. Learn how to reset it and watch it fly off the lot.UPCOMING EVENT:📍 Collections Event with Ai - Dallas, TX - December 10Godwin Consulting Group is putting on a Collections Event in Dallas on December 10, don't miss it! http://www.godwinconsultinggroup.com/...📢 WANT MORE DEALER INSIGHTS?✅ Subscribe to the Independent Dealer Podcast💬 Drop a comment with your biggest collection challenge👍 Like this video if you're definitely NOT waiting until December 30th to do all this... right? 😅⭐ Leave us a review: www.theindependentdealer.com📧 Email us: ⁠ [email protected] 🔗 CONNECT WITH US:Website: www.theindependentdealer.comInstagram: @theinpendentdealerpodcast/Facebook: @theindydealerLinkedIn: @independent-dealer-180160225🙏 SPECIAL THANKS TO OUR SPONSORS:Blytzpay - Your credit card processing and text communications partner. Tell them IDP sent you to get 3 FREE months!www.blytzpay.com⁠Buckeye Risk Services - All your education and reinsurance needswww.buckeyerisk.comTaxmax - Flexibility with your tax returns⁠⁠⁠www.taxmax.com🎧 LISTEN TO ALL EPISODES:Anchor: @theindependentdealer Social Links:/ independentautogroup/ jlukegodwin/ sendtojeffwThe Independent Dealer Podcast is brought to you by real dealers, for real dealers. No BS. Just actionable insights from the trenches.---⚠️ DISCLAIMER: Jeff and Luke are not CPAs or tax professionals. This content is for educational purposes only and should not be considered professional tax or legal advice. Always consult with your qualified CPA or tax advisor before making financial decisions.

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418 episodes

Artwork
iconShare
 
Manage episode 521445216 series 3136173
Content provided by Jeff Watson & Luke Godwin, Jeff Watson, and Amp; Luke Godwin. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Jeff Watson & Luke Godwin, Jeff Watson, and Amp; Luke Godwin or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

End of the year creeping up on you? 😅 Don't be that dealer scrambling on December 30th!In this episode, Jeff and Luke break down the 5 ESSENTIAL year-end moves every independent dealer needs to make before December 31st. From tax strategy to portfolio cleanup, these time-sensitive tips could save you hundreds of thousands.🎯 What We Cover:✅ Why you need to meet with your CPA NOW (not January)✅ Portfolio cleanup: How to rip the band-aid off and start 2026 clean✅ The inventory audit that reveals missing cars and hidden money✅ Inventory write-downs: The "Voila Method" that makes cars sell immediately✅ Reinsurance compliance checkup before year-end✅ Equipment depreciation strategies (rollbacks, repo trucks, and more)✅ Strategic planning: How to map out a killer 2026💡 KEY TAKEAWAY: That car sitting on your lot for 6 months? It's not a turd - there's just no money in it for your salespeople. Learn how to reset it and watch it fly off the lot.UPCOMING EVENT:📍 Collections Event with Ai - Dallas, TX - December 10Godwin Consulting Group is putting on a Collections Event in Dallas on December 10, don't miss it! http://www.godwinconsultinggroup.com/...📢 WANT MORE DEALER INSIGHTS?✅ Subscribe to the Independent Dealer Podcast💬 Drop a comment with your biggest collection challenge👍 Like this video if you're definitely NOT waiting until December 30th to do all this... right? 😅⭐ Leave us a review: www.theindependentdealer.com📧 Email us: ⁠ [email protected] 🔗 CONNECT WITH US:Website: www.theindependentdealer.comInstagram: @theinpendentdealerpodcast/Facebook: @theindydealerLinkedIn: @independent-dealer-180160225🙏 SPECIAL THANKS TO OUR SPONSORS:Blytzpay - Your credit card processing and text communications partner. Tell them IDP sent you to get 3 FREE months!www.blytzpay.com⁠Buckeye Risk Services - All your education and reinsurance needswww.buckeyerisk.comTaxmax - Flexibility with your tax returns⁠⁠⁠www.taxmax.com🎧 LISTEN TO ALL EPISODES:Anchor: @theindependentdealer Social Links:/ independentautogroup/ jlukegodwin/ sendtojeffwThe Independent Dealer Podcast is brought to you by real dealers, for real dealers. No BS. Just actionable insights from the trenches.---⚠️ DISCLAIMER: Jeff and Luke are not CPAs or tax professionals. This content is for educational purposes only and should not be considered professional tax or legal advice. Always consult with your qualified CPA or tax advisor before making financial decisions.

  continue reading

418 episodes

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