Keith A. Laudenberger, CPA klaudenberger@cbmcpa.com Councilor, Buchanan & Mitchell’s automotive dealership accounting team is your trusted partner in achieving your financial goals. Our professionals are experienced leaders with a deep comprehension of the challenges and opportunities faced by the automotive industry. Contact us today if you are ready to experience personalized service. cbmcpa.com 301.986.0600 7910 Woodmont Ave, Suite 500 Bethesda, MD 20814 John R. Comunale, CPA jcomunale@cbmcpa.com STEERING YOUR FINANCIAL SUCCESS IS OUR BUSINESS Tax Planning & Preparation Cost Segregation Analysis Mergers & Acquisitions Audits, Reviews & Compilations Business Process Review Succession Planning LIFO Inventory Fraud Prevention Buy/Sell Agreements Business Valuations Financial Planning Wealth Management Our Services: Studies and stories continue to show the system benefits not only our industry but also the consumers and employees who are the backbone of our businesses. Our lineup of speakers at this year’s convention certainly delivered lasting insights and headlines on Virginia’s legislative landscape. Virginia Attorney General Jason Miyares spoke on the heels of his and Gov. Glenn Youngkin’s announcement that Virginia will exit California’s zero-emissions mandate at the end of this year. DMV Commissioner Gerald Lackey shared his vision for the state agency, and he has done a phenomenal job making Virginia DMV a leader among its peers. We thank both leaders — and many others — for sharing their analysis on the industry. Turning to electrification, my recent op-ed on reassessing Virginia’s path, published in the Richmond TimesDispatch, reiterates the critical need for balanced approaches that consider industry realities, consumer needs, and policies that help, not hinder, progress. This applies to CARB — and more — as our industry continues to evolve. DON’T PUT CDK INCIDENT IN THE REARVIEW MIRROR, YET The recent CDK Global cyberattack brought to light the importance of having robust backup systems. While our hands were just as tied as yours when it came to restoring service, we controlled what we could — in this case, working closely with DMV to ensure all customers could still conduct business with the agency, and developing an online resource center. Whether a CDK customer or not, let this moment serve as a reminder that it’s essential for dealerships to have disaster plans and revisit their insurance coverages regularly. If you don’t have a disaster plan, now is the time to create one. Ensure that your insurance covers business interruptions and cybersecurity threats, as these events are becoming increasingly common. So join us in our efforts for a collective road ahead. Start by supporting the PAC for 2024. It’s not just a contribution, but a commitment to the future of the retail automotive industry in Virginia. JOIN OTHERS WHO HAVE GIVEN TO THE PAC FOR 2024 https:/ vadapac.com/ vada.com 5
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