Councilor, Buchanan & Mitchell (CBM), a full-service tax, accounting and advisory business serving clients up and down the East Coast, has been named by the LabNation brokerage network as the select broker to deliver accounting expertise to Maryland, Virginia and Delaware dealerships entering buy-sell transactions. LabNation, the nation’s only multiple listing service (MLS) serving the automotive industry, provides dealership owners with access to the expertise of accounting and advisory professionals in specialized areas related to the purchase or sale of a business.
CBM services available to dealerships include valuations, tax consulting and after-tax income projections, estate planning, real estate appraisals, and guidance for owners to establish and plan to achieve their desired financial goals during buy-sell transactions.
“Navigating the accounting complexities of buy-sell agreements has always required deep professional knowledge,” said John R. Comunale, CPA, director of CBM’s automotive dealership division. “This year is particularly challenging due to concerns among dealership owners about the potential impact of new tax legislation. But automotive businesses have relied on the accounting expertise of CBM for 100 years, and we will continue to guide clients in the direction of achieving a satisfying financial outcome whether they are buying or selling.”
CBM’s professional partnerships in the automotive industry include collaborations with wealth advisors (through MBI, the firm’s financial advisory subsidiary), payroll specialists and law firms. “CBM has built a partnership with its counterpart LABNation law firm that serves dealerships in Virginia, Maryland and Delaware,” continued Comunale. “Dealerships working with CBM should consider the additional benefit of access to a team of service professionals that goes beyond simply their accounting needs.”
CBM has supported the automotive dealership industry since 1921, delivering audit, tax and consulting expertise to hundreds of auto, heavy-duty and light truck, motorcycle and RV dealerships, including companies with single locations and large dealer alliance clients up and down the East Coast.
The firm also participates in accounting dealership networks including the National Alliance of Auto Dealer Advisors and AutoDealerCPAs.
Councilor, Buchanan & Mitchell (CBM) is a professional services firm delivering tax, accounting and business advisory expertise throughout the Mid-Atlantic region from offices in Bethesda, MD and Washington, DC.
