NYS Cluster Action Initiative; PPP Loan Forgiveness; Time to Elect Off of LIFO; NYS Permanent Paid Sick Leave Law

Date:
Wednesday, October 14th

Time:
10:00 a.m. - 11:00 a.m.

Isolated COVID Spikes & Red Zones Designated by Governor

NYSADA’s Legislative Co-counsel, Caiti Anderson will review Governor Cuomo’s announcement last week of a new cluster action initiative to address some relatively isolated COVID hot spots that have cropped up in communities located within Brookly, Queens, Broome, Orange and Rockland Counties. Working with public health experts, the state has developed a strategy to attack these clusters which  includes new rules and restrictions directly targeted to these problem areas.

PPP Loan Forgiveness Application, A Continuing Update

The good news is that as we fast approach the homestretch in terms of when businesses can apply for PPP loan forgiveness, we are also seeing bank portals opening up and beginning  to accept these applications. Please join us as Louis Young, Director of Client Services for NYSADA Partner, the Withum Group reviews the basic  elements of the application process, including the required documentation.

Time to Elect Off of LIFO?

Given the volatility in this year’s new and used car markets both with respect to supply and demand it may be a good time for those dealers that have been valuing inventory under the LIFO method to take a second look. Depending on the size of your LIFO reserve and the size of your inventory now in relation to the prior year , you could be in for a sizeable income pickup which could definitely have an impact on future tax scenarios. Louis Young of the Withum Group will point out some of the issues regarding the LIFO  accounting method for this year’s extraordinary circumstances.

NYS Permanent Paid Sick Leave Law

Susan Bartkowski will give a very brief review of the NYS Permanent Paid Sick Leave Law. Note: this new law was addressed in a September 25th webinar, a recording of which is currently available on NYSADA.com. Susan will also be available to address questions on this new law as well as other COVID related HR issues.

Presenters:

Caitlin Anderson, Bond, Schoeneck & King
Louis Young, Withum
Susan Bartkowski, Bellavia, Blatt PC

How Much is My Dealership Worth: Review of Metrics to Valuate Your Dealership

Date:
Wednesday, October 21st

Time:
2:00 p.m. - 3:00 p.m.

A look at trends in the auto retail market and how they impact the valuation of dealerships.

NYSADA Hotline Partner Withum will review specific issues and factors impacting the overall worth of a dealership and discuss whether or not the pandemic has made dealership valuations more difficult.

Panelists:

Louis Young, Withum Automotive Team Leader
Tom Reck, Withum Forensic and Valuation Services

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Evolution of Selling: How to Be Successful in our Shifting Sales Environment

Date:
Wednesday, October 28th

Time:
10:00 a.m. - 11:00 a.m.

We all know the sales environment has changed, have you adapted to the change?

New York was hit the hardest when COVID began in March, and phones are now the number one lead source into the dealership as “by appointment only” has become the norm. However, the customer’s desired experience has advanced, while most dealerships’ phone skills remain below average across the country. Join NYSADA Partner CallRevu for an overview of the changing sales environment and how best to evolve your dealerships’ tools, phone skills, & processes to meet the customer’s desired experience.

Panelists:

Amanda Knowlton, CallRevu Director of National Accounts

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