In This Issue
- Upgraded WANADA Member Portal Rolling Out in Coming Weeks
- WANADA Webinar on LIFO Accounting Relief Coming Soon
- NADA Show 2021 Will Feature Over 60 Education Sessions
- Va., Md. General Assemblies to be More Virtual in 2021
- Reminder: Advertising Opportunities in the 2021 WANADA Directory
- Happy Holidays from WANADA
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As part of the association’s ongoing software and hardware systems upgrade, WANADA has made a significant improvement to its membership management processes. Part of this upgrade is a new system called Member Leap. Kindred-line members have received welcome information; dealers members will receive this information in the first full week of January.
Please note that Member Leap emails will be from “viethconsulting.com," so please check your spam folder if you do not receive them. Please also be sure to whitelist the new sender to ensure that future Member Leap emails appear in your inbox.
Among other features, this new database will allow the WANADA membership to make informational changes online to membership information. While certain changes will still need to be approved by the Board of Directors, per the association’s bylaws, this new capability should help streamline the process.
In addition, Kindred and Associate Member dues and Monthly Member Assessments will be managed and paid through the new system. For any issues related to billing, please contact Hannah Giuffre at hg@wanada.org.
The system has other features as well, including a document library of relevant forms from state motor vehicle departments, retention guides, and more. WANADA will also be utilizing Member Leap for event marketing and registration.
We are looking forward to utilizing this system for future communications and events. Please contact Kathy Teich at kt@wanada.org, should you have any questions or concerns.
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WANADA is planning to host a webinar for dealers in the near future that covers relief options for dealers who use the “Last in, First Out” accounting method for handling vehicle inventory. COVID-19 has upended dealers’ usual inventory flows, which according to a recent NADA webinar on the same topic, could impact up to 20 percent of all dealers.
WANADA will be sure to update our member dealers as soon as a webinar, which will be hosted by our friends at the CPA and advisory firm Councilor, Buchanan & Mitchell, P.C., is officially scheduled. You may also view the slideshow from the recent NADA webinar at this link.
NADA is currently asking the U.S. Treasury Department to provide affected dealers with additional relief under Section 473 of the Internal Revenue Code. Currently, businesses who terminate the LIFO accounting method, via IRS Form 3115, are barred from re-selecting it within the following five years.
As tax season approaches once again, we encourage all dealers to discuss their current tax options with their advisers. WANADA will follow up with more details about the upcoming LIFO webinar in the coming weeks.
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The 2021 NADA Show, which will be held entirely online this coming year, will include more than 60 education sessions that can be viewed either live or on-demand, all from the comfort and safety of your home or office. To view the full list of education sessions and virtual workshops that will be offered during the 2021 Show, from February 9-11, please click here.
All registrants will have the ability to replay any sessions that they missed, providing attendees with the chance to view even more workshops than in previous years. The show will also be hosting a robust virtual exhibitor display, with more than 200 different businesses currently slated to participate. Staples of the NADA Show, including addresses from association leaders, will be held on the show’s virtual “main stage” during the three-day event. You can view the convention schedule at this link.
To register for the 2021 NADA Show, please click here. Given the virtual format, pricing has been reduced from prior years; WANADA encourages all our dealer members to participate in this great, and informative, annual event.
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Both Virginia and Maryland’s general assemblies will take some unprecedented steps to ensure safety during the COVID-19 pandemic, with most deliberative business being conducted remotely.
In the Commonwealth, Virginia House Speaker Eileen Filler-Corn (D-Fairfax) announced last month that the House of Delegates will conduct all committee hearings, and likely all floor votes, virtually. The Virginia Senate will convene in Richmond at the Science Museum of Virginia, but the chamber’s office buildings and committee hearings will be closed to all except legislators and their staffs.
All committee hearings in both chambers will be live-streamed, and leaders of both chambers have said that Virginians will be able to participate in hearings and submit comments as they have in prior sessions. The session will be just 30 days this year, making it highly unlikely that many bills (outside of the state budget and a few other major labor provisions) have a chance to pass both chambers. Read More
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The 2021 WANADA membership directory is already being developed, and we invite all Kindred-Line members to advertise in this year’s book, which is delivered directly to all our members. Both full-page and half-page ad slots remain available, along with other options including cover pages, inserts, and more.
Advertisements are due by February 1, and the directory is currently scheduled to be delivered by the end of March. For more information, please contact Bob Storin at rs@wanada.org, or by calling 301-335-8289.
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Everyone at WANADA wishes you, your families, and your colleagues a safe and restful holiday season. The next issue of the WANADA Bulletin will be published on January 6. |
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The WANADA Bulletin is Sponsored by the Following Kindred-Line Members:
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