Everything You Need to Know to Be a Successful and Competitive Automotive Dealer in Virginia.
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What’s the tax impact from Payroll Protection Program loans?
The Consolidated Appropriations Act of 2021 (“CAA”) was signed into law on December 27, 2020. Included in the CAA were provisions that provided for the full deductibility of all covered period expenses and for no tax attribute to be reduced nor any basis increase denied by reason of the loan forgiveness being excluded from
Best practices for recalls
By Michael G. Charapp Charapp & Weiss LLP As a franchised dealer, you regularly deal with issues arising from factory recalls. As a best practice, you should involve all departments of your dealership. Under federal law, you cannot deliver a new car subject to a recall unless it is repaired. Unfortunately, we sometimes see
Pandemic Update: May 7
May 7, 2021 Easing COVID restrictions at dealerships? Not so fast. You may have seen news reports about Governor Northam’s plans for easing restrictions in Virginia. The Governor said he hopes to be able to lift restrictions on public gatherings and social distancing by June 15, if the vaccination rates continue to increase and the
Is it really a lawyer calling?
By Michael G. Charapp Charapp & Weiss LLP We sometimes get a call from a client claiming that a customer’s lawyer called the dealership looking to discuss the client’s deal (or most often to discuss terminating the deal). The first question to our client is how the dealership knows the caller is really an attorney.
Cox Automotive April Forecast: Hot New-Vehicle Sales Pace Expected to Continue
ATLANTA, April 28, 2021 /PRNewswire/ — April U.S. auto sales, when announced next week, are expected to reveal a very hot new-vehicle market. The April sales pace is expected to finish near 16.5 million, which is down from last month’s robust 17.7 million level but still a healthy pace for the industry. Sales in March were especially strong
Review your repair orders now to avoid litigation later
By Michael G. Charapp Charapp & Weiss LLP Chances are that you include fees to your service customers in addition to parts and labor charges. It has been nearly two decades since there was a major challenge to a fee added to repair orders. There, the national chain Jiffy Lube was charging an “environmental
Sales of Electrified Vehicles Jump Up 81% in the First Quarter of 2021
ATLANTA, April 19, 2021 /PRNewswire/ — According to an analysis of the U.S. auto market by Cox Automotive and Kelley Blue Book, sales growth of both electric and hybrid vehicles outpaced overall market performance in the first quarter of 2021. Electrified vehicles – automobiles featuring large battery packs and electric motors in the propulsion system – accounted for
Vaccine Update for Dealership Employees
April 1, 2021 Information about COVID-19 vaccine availability is regularly updated by the Commonwealth and federal government. Bookmark this page and check back often to keep your team informed of vaccine availability. When we know new information, you will too. APRIL 1, 2021 Governor Ralph Northam today announced that all individuals in Virginia age 16