Daniel J Flugrath, CPA, CFP

Partner

Dan Flugrath has been practicing as a CPA in Florida for 35 years. Throughout his career Dan has been involved in many aspects on the tax side of retail automotive industry from compliance matters such as preparing and reviewing annual tax returns and other filing requirements to defending the amounts reflected on those annual tax returns in Federal and State tax examinations. Dan has a unique skill set due to his involvement in mergers, buy/sell agreements, acquisitions, cost segregation studies, estate planning issues, such as passing the family retail automotive dealership to the next generation. This insight assists him and enables him to see issues in advance before they become larger.

As a highly regarded member of the automotive dealership team at Morrison, Brown, Argiz and Farra, LLC (MBAF) for 19 years, Dan provided advice on items such owner end of year tax projections to owners to minimize or eliminate Federal and State tax penalties, replenishing inventory items so that LIFO reserves would not be depleted, purchasing fixed assets to take advantage of depreciation deductions in the year most valuable, making calculations to determine if purchasing or leasing fixed assets to determine which was better than another, reviewing and working along with the Company attorney for buy/sell agreements, tax sensitive documents along with other strategic plans of dealerships.

Dan’s hands-on working knowledge with dealership matters over his career in the industry and coupled with his tax experience has allowed him to see and take advantage of the opportunities from a tax standpoint in situations where assistance may be needed in infrequent events such as floods, hurricanes and other natural disasters. Checking to make sure that proper insurance coverage is in effect and is at levels which will provide comfort in the event of accidents or disasters.

In today’s changing Dealership industry environment with increasing regulations and responsibilities being placed on employers with regards to Health insurance, workmen’s compensation, and other laws with punitive penalties associated with failing to provide, one can take comfort that these items can be one less item to worry about in your dealership or business so you can concentrate on the things that you do best.

Dan also works on High Net Worth individuals in assisting with their individual tax return issues dealing with items such as compensation issues, entity structure, funding retirement needs, determining if it is better to purchase tax exempt vs taxable securities and reviewing tax projections to minimize surprises.

Dan and the team at VVH have the specialized industry expertise to assist in navigating the rapidly changing tax and economic aspects of the retail automotive industry and High net worth individuals.

 

Professional Affiliations


  • American Institute of Certified Public Accountants

  • Florida Institute of Certified Public Accountants

  • Institute of Certified Financial Planners

Education


  • BBA, Accounting, Florida International University

LICENSES


  • Certified Public Accountant in Florida

  • Certified Financial Planner in United States using trademark CFP

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