SPECIAL INDUSTRY FOCUS

AUTOMOBILE DEALERSHIPS

Our ability to offer an extensive list of services arises from our exposure to all types of operations, accounting systems, the interworkings of vastly different franchise arrangements, management styles, and an extensive network of factory representatives, financial institutions, ancillary service-providers and industry leaders.

Among the specific services we provide are the following:

· Assistance in the acquisition and sale of dealerships from being familiar with the market place as to desirability of specific franchises (single and multi-point); giving due regard to facilities, location and other demographics, etc; teaming with management and counsel in structuring buy-sell agreements to obtain the maximum tax advantages and the optimal business terms; and due diligence studies of the profitability of the enterprise.

· Application of the LIFO method to new vehicle and other inventories. Utilization of LIFO, in most instances, produces tax deferrals which grow over the life of the enterprise.

· Confidential analyses of automobile dealer financial statements and evaluation of operating results and departmental performance with comparable stores in terms of units, volume and gross profits based on size, location and franchise. Study interrelationships with service and parts activity and relative expense levels of such vital items as advertising, rent, payroll costs and interest.

· Advice to safeguard assets, analysis of operating systems with a view toward improving internal controls, cash management and maintaining control over expenses.

· Assistance in hiring key personnel and evaluation, creation and implementation of compensation plans.

· Develop objective feasibility studies, projections and budgeting.

· Consultation with respect to analyzing and influencing banking arrangements.

· Design and implementation of specializing accounting systems and computer applications.

· Analysis of various alternative business decisions and their tax ramifications.

REAL ESTATE MANAGEMENT, LEASING AND DEVELOPMENT

The firm over the years has been recognized as a leader in providing services to the real estate community, including dealings with commercial and residential construction contractors and real estate investors.

· Our goal is not only to provide the normal accounting and tax compliance services, but also to help our clients address structural business changes within the industry's economic environment and evaluate the form of entity which produces the optimal tax results.

· Particular tax credentials are in the areas of cost segregations, historic rehabilitation tax credits, environmental clean-up, cancellation of indebtedness income, like-kind property exchanges and partnership book and tax capital account analysis and special allocations.

· Our experience with property development and income production extends to office buildings, shopping malls and other retail facilities.

The real estate industry has encountered many changes over the last 25 years and our clients have had to evolve and deal with these issues with us closeby. New regulations, financing arrangements and technological changes have all had a strong impact on the decision-making process.