JULY 12, 2011

IN THIS ISSUE

DEALER NEWS & INFORMATION

Auto Industry News at a Glance

 

REGULATORY & LEGAL UPDATES

IRS Form 8300 Revised: Report of Cash Payments Over $10,000

 

UPCOMING SEMINARS

Upcoming Seminars

FREE Webinar: Job Descriptions and Pay Plans That Work


CALENDAR OF EVENTS
Upcoming Events

CADA Annual Golf Event


DEALER MILESTONES,
HIGHLIGHTS & TRANSITIONS

Share Your Accomplishmens

 

THE AFTERFACT

All the News That's Fit to Email!


ARCHIVES

CLICK HERE for Open Road
e-newsletter archives.

CLICK HERE for an Index of Regulatory
& Legal Articles
from the Open
Road e-newsletter.

CLICK HERE for Bulletin archives.

CLICK HERE for Colorado Auto
Outlook
archives.

CLICK HERE for Denver Auto
Outlook
archives.


ONLINE REGISTRATION

CLICK HERE to register online
for various CADA seminars & events.


MEMBERSHIP RESOURCES

CLICK HERE for details on the
Speaker and Educational
Resources
.

CLICK HERE for a list of current
Endorsed Vendors/Programs
.

CLICK HERE for a list of current
Allied Members
.

CLICK HERE for an order form for
CADA forms
.

CLICK HERE for information on all member services.



www.nada.org


www.aiada.org

CLICK HERE for NADA
Regulatory Affairs information
.


STATE GOVERNMENT RESOURCES

CLICK HERE for the Auto Industry
Division
of the Colorado Dept.
of Revenue.

CLICK HERE for the Title and
Registration section
of the
Colorado Dept. of Revenue,
Motor Vehicles Division.

CLICK HERE for the Colorado
Department of Labor &
Employment
website.




Visit us at www.coloradodealers.org.


CADA Hours of Operation
Monday to Thursday, 7 a.m. to 5 p.m.
Friday, 7 a.m. to 4 p.m.

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CADA STAFF

CLICK HERE for a CADA staff listing


If you have questions
or suggestions
regarding this
e-newsletter, please
contact Lauren Stadler at
lauren.stadler@coloradodealers.org

CLICK HERE or scroll to the bottom
of this page if you want to be
added or removed from our list.


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ENDORSED VENDOR/PROGRAMS

CLICK HERE for information about the
Endorsed Vendors/Programs
.

 

 

 


If you have trouble viewing any of the links or documents in this e-newsletter, please CLICK HERE to access the web-based version.


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 AUTO INDUSTRY NEWS AT A GLANCE

Listed here are several articles pertaining to the
auto industry in general that appeared recently in newspapers and other media outlets across the nation.



…more news articles are included at the end of this issue.




IRS FORM 8300 REVISED: REPORT OF CASH PAYMENTS OVER $10,000

The IRS has revised the form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business.  The revised form should be used going forward, and contains revision date, June, 2011.

  • The general rule is that a Form 8300, must be filed if a business receives more than $10,000 in cash from one buyer as a result of a single transaction or two or more related transactions.
  • If a Form 8300 is required for a transaction, it is due by the 15th day after the date the cash transaction occurs.
  • In addition to filing Form 8300 with the IRS near the time of the transaction, companies also need to furnish to each person whose name is required to be included in the Form 8300 a written statement by January 31 of the year following the transaction.

CLICK HERE for further guidance from the IRS on form 8300. 

IRS Publication 1544 provides more details of the cash reporting requirement. 

NOTE:  There have been reports of IRS audits of dealerships in Colorado.

* * * * * * * *

If you have questions on any legal or regulatory topic, please contact:

DISCLAIMER: CADA is not authorized to dispense legal advice.The information contained in this weekly email is intended to provide important updates and reminders regarding statutes, litigation, and regulations. CADA always advises that dealers should consult legal counsel on the specifics of any laws or regulations to ensure proper compliance


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FREE WEBINAR: JOB DESCRIPTIONS AND PAY PLANS THAT WORK
Great job descriptions and pay plans can help you hire and retain the best employees, inadequate ones can leave you vulnerable to wage and hour lawsuits

In this webinar, Kathryn Carlson, will provide step-by-step guidance on how to write the best job descriptions for your current employees and potential new hires. Job descriptions are crucial for employees to understand the responsibilities of their job and what is expected of them.  Kathryn will also discuss the intricate pay plan structures often found within dealerships.

Attendees will receive a template job description and pay plan that can be customized for your organization/specific positions.

Thursday July 14, 2011
10:00am - 11:00am Mountain

Register Online!

* * * * * * * *

aTO REGISTER ONLINE FOR ANY CADA
SEMINAR OR EVENT, PLEASE VISIT:

www.coloradodealers.org/registration
Event Description
Date/Time
Location

FREE WEBINAR: Job Descriptions and Pay Plans That Work

Thursday, July 14
10:00am - 11:00am

Register Online!

If you have a particular area of interest or would like to suggest a training seminar topic, please contact Lauren Stadler at 303.457.5123 or lauren.stadler@coloradodealers.org



Event Description
Date/Time
Location

CADA
Annual Golf Event



Monday, September 12, 2011

Usually a 12:00pm Shotgun Start


Green Gables Country Club
6800 West Jewell Avenue
Denver, 80232

Registration coming soon!




LET US KNOW ABOUT YOUR ACCOMPLISHMENTS!

Have you or anyone else at your dealership won an award recently? Have you or your dealership provided any outstanding community service? We want to recognize such accomplishments. Please send us a brief write-up of the award or event along with any other information to milestones@coloradodealers.org. Also include your contact information for further follow-up.


THE AFTERFACT


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Colorado Automobile Dealers Association
290 East Speer Boulevard Denver, CO 80203
Telephone: 303.831.1722 | Facsimile: 303.831.4205
www.coloradodealers.org