Most dealers understand the importance of a succession plan. Too few realize the critical role pre-tax dollars can play in making your vision for the future a reality.
Financial services expert offers dealers a five-step plan to secure their legacy and minimize the tax liability of those who inherit or buy their dealership.
Nearly a third of dealerships don’t have a succession plan in place, according to a survey conducted by the National Alliance of Auto Dealer Advisors. The No. 1 inhibitor is time and the current owner’s willingness to step back.
The two firms will debut at NADA 2017 the new NCM-Rawls Dealer Executive Program, a 10-month leadership development curriculum on succession planning and leadership.
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