Hi all,

I run a small Mazda repair/restoration shop and I’m hitting a wall with corporate tax filing this year. Between tracking deductible parts and labor expenses, understanding IRS rules for inventory vs service revenues, and keeping up with recent tax changes, it’s been confusing.

I’m especially struggling with separating personal vehicle expenses from business ones and ensuring I’m compliant to avoid penalties.

Do any MazdaForum members who run shops or dealerships have tips, software recommendations, or accounting strategies that make corporate tax filing easier?

 

thanks in advance for any help

 

We use a Tax consultant and not worry about it.
We also have for years done most all the work on his and his direct family vehcle for warranty labor rate and cost on parts.

The tax laws in California change every year and there is no way in this state a small business or large business can possibly keep on all the changes.
Its just not worth attempting to try to do the taxes and get it correct and hope that you did not make a mistake that causes an audit. In 10 years so far, our shop has never been audited.

But even in the past I never attempted to do my own Taxes business I owned and operated over decades. It is just it a wise have a tax service build a trusted relationship with them and have them do your taxes.

 

Welcome to the forum