IRS 8300 Form For Car Dealers (2024)
Used car dealers receiving over $10,000 in cash in a single or related transactions must report it via IRS Form 8300 (PDF Form Rev. 12/23) within 15 days to combat money laundering. Related Posts:— Form 8300 and Reporting Cash Payments of Over $10K (IRS.gov)— Motor Vehicle…
What You Need to Know TODAY about FTC CARS Rules (August 2024)
What Every Car Dealer Needs to Know About the FTC CARS Rule Today! Update (August 2024): The U.S. House Appropriations Committee has passed the Fiscal Year 2025 Financial Services and General Government (FSGG) appropriations bill, which includes a provision to delay the implementation and enforcement…
5 PRACTICAL things Auto Dealers SHOULD do with FTC Safeguard Rules
A lot of you auto dealers out there are looking for practical examples of what these new FTC Safeguard Rules will do to change your processes and behaviors at your dealership now that June 9th is upon us. Here are FIVE fun practical things you…
FTC Safeguard Rules for Auto Dealers (2023)
Information and resources for your dealership to be ready for the June 9th deadline The Safeguard Rules require your dealership to develop, implement, and maintain an information security program designed to protect customer information. In short, it’s a written plan of action outlining how your…
New NC Rules for Titling in a Business Name
There is a new law in effect for North Carolina businesses that want to title a vehicle in their Business/Corporation/Firm/or Partnership name. Below is a brief summary and then the full announcement: Summary: As of March 2023 you need the following when titling a vehicle in…
How to Sell a Car in NC to a Virginia Resident
Because you’re a North Carolina used car dealer, you will use primarily North Carolina paperwork. So your forms will look something like this: NC MVR-2To reassign the title to the customer. Bill of Sale Do not include any tax or registration fees. The customer will…
About KGI
Over 20 Years in Business.
Based in Apex, NC.
Family-Owned and Operated.
Serving Dealers in the Carolinas.