Avsnitt
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Hunt unpacks his recent experiences and learnings from the Virginia Automotive Association Conference in Hot Springs, Virginia. Joined by Jamie from Sesco, an HR expert, Hunt explores potential impacts of proposed wealth taxes and shares expert advice on how auto industry professionals can navigate current financial climates.
• Conference Insights: Hunt reflects on his productive collaboration with Jamie from Sesco during the conference, promising an in-depth future episode with her to dive into HR and legal topics relevant to auto shop owners.
• Wealth Tax Discussion: Hunt discusses a trending topic that stirred interest at the conference—a possible wealth tax. He debates the likelihood and implications of such a tax, referencing recent legislative attempts and public sentiment towards wealth distribution.
• Financial Strategies: Learn about legal loopholes and financial strategies used by the wealthy to mitigate tax liabilities, with Hunt explaining complex mechanisms like borrowing against securities instead of liquidating assets.
• Listener Engagement: Hunt encourages listener interaction by inviting questions and suggestions for future topics, underscoring the podcast’s commitment to addressing audience interests.
Thanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
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Welcome to this episode of "Business by the Numbers," where we dive deep into the often controversial topic of tax fairness. Join Hunt, as he explores if the wealthiest among us are really shouldering their fair share of the tax burden.
• Defining 'Rich': How income levels and perceptions of wealth vary across different regions and impact tax contributions.
• The Progressive Tax System: A closer look at how the U.S. tax system scales with income and what that means for the top 1% of earners.
• Real Figures: We break down recent statistics to understand the actual tax contributions made by high earners.
• Beyond Income Tax: Examining other significant tax obligations faced by the wealthy, including sales tax, property tax, and surtaxes.
• Debunking Myths: Addressing common misconceptions about tax evasion among the wealthy and what the data really shows.
Thanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
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Saknas det avsnitt?
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In this week’s episode, Hunt gets into the financial intricacies faced by auto repair shop owners, from refinancing debts and selling shops to securing new mortgages in today’s unpredictable market. He explores the strategies and tips to steer through the banking hurdles and optimize your financial operations.
• Market Update & Interest Rates: Starting with a quick market update, Hunt discusses the current state of interest rates and how they're affecting both personal and commercial loans. Despite the unchanged rates by the Federal Reserve, the historical highs are impacting mortgage affordability and commercial borrowing costs.
• Loan Acquisition Challenges: The episode sheds light on the complexities of acquiring loans in the current financial climate. Hunt discusses the often opaque criteria banks use to approve loans, offering some tips for what shop owners can do to increase their chances of securing financing.
• Listener Q&A and Acknowledgments: A special thanks to listeners for their engaging questions in the previous mailbox episode. Your curiosity fuels our content, and we’re here to address your concerns, guiding you toward informed financial decisions for your auto repair shop.
• Rapid Fire Tips for Financial Management: Closing the episode, Hunt offers some rapid-fire advice for managing your finances better, from understanding the nuances of loan interest rates to practical tips for ensuring your business stays liquid and prepared for any financial challenges ahead.
Thanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
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In the latest episode of "Business by the Numbers," Hunt tackles an intriguing question for auto repair shops: Can success be achieved without marking up parts? This concept challenges traditional profit models in the auto repair industry, sparking a discussion on how feasible this strategy actually is. This episode explores the potential shift towards labor-only profits and its impact on shop operations.
• Labor vs. Parts Profits: Evaluating the potential for auto repair shops to sustain profitability solely through labor, eliminating the need for parts markup.
• Customer Pricing Perception: How the shift to a labor-only model could simplify pricing discussions with customers in the digital age.
• Legal and Financial Considerations: The episode explores the complexities of sales tax, state regulations, and the financial implications of a no-markup strategy.
• Future of Auto Repair Industry: Encourages shop owners and mechanics to reflect on innovative practices that could redefine success and adapt to evolving customer expectations.
Thanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
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In the latest episode of Business by the Numbers, Hunt Demarest, CPA at Paar Mellis & Associates, tackles your top questions on taxes, accounting, and navigating government policies for small businesses. This episode explores how recent government actions like the budget deal affect your business, alongside evergreen topics like:
• Paying Yourself: What's the best way to balance salary and dividends, especially considering different business structures like S corporations and sole proprietorships?
• Succession Planning: How can you smoothly transfer your business to a family member, weighing the pros and cons of stock vs. asset sales?
• Accounting Methods: The real impact of choosing between accrual and cash accounting for your business's financial health.
• Overtime Calculations: Navigating the complexities of overtime pay, focusing on the nuances of bonuses in your payroll.
Thanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
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This week, Hunt takes a deep dive into the hot-button issue of price increases within the auto repair sector. He offers a nuanced examination of vendor pricing, market dynamics, and the psychological elements of setting rates in your business. With examples from real-life scenarios, this episode is a treasure trove for auto repair shop owners striving for balance between profitability and customer loyalty in today’s volatile economic climate.
• The Psychology of Pricing: Unpacking the reaction to vendor price increases and what it reveals about our own pricing strategies.
• Market Dynamics: Exploring the balance between cost, value, and competition in the auto repair industry.
• Strategic Decision-Making: How to navigate the complexities of pricing decisions to ensure business growth and sustainability.
• Real-Life Examples: Actual examples from a shop owners' group debate to illustrate broader industry challenges.
Thanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
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What if there's a fire in your shop? An oil spill? A natural disaster or God forbid, a death? How do you prepare for that? Well, This week, Hunt talks about preparing for the unexpected:
Vision Expo: Hunt shares experiences and insights from attending the Vision Expo in Kansas City, emphasizing the importance of community and industry events.Importance of Preparedness: The significance of being ready for unforeseen incidents, such as theft or natural disasters, affecting auto repair shops.Insights from Roundtable Discussions and Classes: Valuable lessons from discussions and classes, including managing risks and implementing preventive measures.Understanding Insurance Coverages: The necessity of comprehending what business insurance covers, identifying coverage gaps, and making sure you have comprehensive protection.Preventive Measures Against Risks: Steps to minimize risks associated with fires, accidents, and other potential threats to auto repair shops.Contingency Planning: The need for having a solid contingency plan to tackle unexpected situations effectively.Financial Readiness and Strategic Planning: Emphasizes the role of financial preparedness and strategic planning in fostering long-term success and stability for auto repair shop owners.Thanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
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In this episode, Hunt sits down with Jay Huh, a down-to-earth auto repair shop owner from North Carolina who's also a skilled public speaker, coach at Shop Fix, and even a pilot. Jay spills the beans on how he landed a speaking gig at the VISION Hi-Tech Training Expo with just a month's notice and why he's all in on making the auto repair industry better for everyone. His real talk and practical advice are not just about fixing cars but fixing the business side of things too.
Here's a quick rundown of what Jay shares:
• Passion Over Profit: Jay opens up about his journey from the brink of personal and professional disaster to finding his purpose in the auto repair world. He's all about giving back, stressing that making a profit shouldn't be a taboo topic.
• Work-Life Balance: He dives into how he restructured his business to not only be more profitable but to also have time for what matters most — family. Jay is proof that you can have your cake and eat it too, running a successful shop without sacrificing every waking moment at work.
• Financial Savviness: With a straightforward chat about managing finances, from rebate checks to navigating economic uncertainty, Jay offers his two cents on keeping your shop afloat and thriving, no matter what the market throws at you.
Thanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
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This week on Business by the Numbers, I want to talk shop and share insights that hit close to home for every garage owner out there. Today, I’m talking about an often overlooked aspect of your business - the true cost of inaction. Not just the dollars and cents you count every day, but the opportunities you might be missing out on.
• The Hidden Expenses: The not-so-obvious costs tied to decision-making in your shop. From choosing between internal work vs. retail work to the long-term effects of quick fixes
• Opportunity Cost Explained: Ever wondered about the cost of sitting on your couch instead of grabbing that $100 helping a buddy out? Opportunity Cost: It's all about what you're missing out on by choosing one option over another.
• Real-life Examples: From loaner cars to hiring decisions, I aim to illustrate how overlooking opportunity costs can have a tangible impact on your bottom line.
And hey, if you're hitting up Kansas City for Vision 2024, swing by and say hi. I'll be there, ready to chat and share insights in person. See you out there!
Thanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
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In this episode, we dive deep into the world of mortgages with Pat McCormick, a seasoned expert from McCormick Mortgage Services.
As we explore the complexities of the current mortgage landscape, including fluctuating interest rates and the outlook for future homebuyers, Pat offers invaluable insights that could impact everyone from first-time buyers to seasoned investors.
Whether you're contemplating a new home purchase or seeking strategies to navigate the mortgage market, this discussion sheds light on the most pressing questions in today's economic climate.
• Understanding Interest Rates: Pat shares his perspective on the recent surge in mortgage rates, the factors influencing these changes, and what it means for the average homebuyer. Despite the challenges, there's a silver lining as rates begin to show signs of improvement, potentially signaling a more favorable buying season ahead.
• Strategies for Homebuyers: With many potential buyers on the sidelines due to uncertainty in the market, Pat emphasizes the importance of strategic planning. He discusses the impact of the Federal Reserve's decisions on mortgage rates and offers advice for those looking to navigate the current environment.
• The Future of Mortgage Rates: Delving into the complexities of how mortgage rates are determined, Pat explains the relationship between Federal Reserve actions and the mortgage market. He provides predictions on rate movements and strategies for buyers to consider in anticipation of future rate cuts.
• Advice for Self-Employed Borrowers: Recognizing the unique challenges faced by self-employed individuals in securing mortgages, Pat offers targeted advice to improve eligibility and optimize financial profiles for loan approval.
https://mccormickmortgageservices.com/
410-935-4326
Thanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
-
As tax season 2024 unfolds, many entrepreneurs find themselves grappling with previous years' unpaid taxes, alongside the looming obligations for the current year. This episode gets into practical solutions for managing tax debt, with real-life advice and expert insights to navigate this challenging aspect of business ownership.
• Understanding Your Options with the IRS: Setting up a payment plan with the IRS is the most common recourse for those unable to pay taxes in full. Learn about the prerequisites, process, and potential pitfalls. How does the IRS view income versus payroll tax debts? What are the crucial differences that could affect your business?
• The Truth About Offers in Compromise: Offers in Compromise (OIC) might seem like a silver bullet for tax woes, but they're often misunderstood and not as easily attainable as advertised. I I try to demystify OICs, outlining the qualifications, processes, and the reality behind settling tax debts for "pennies on the dollar." Why are these offers rarely the best solution for most taxpayers?
• Practical Tips and Real-World Strategies: Beyond understanding IRS mechanisms, this episode provides actionable advice for managing and potentially settling tax debts. From negotiating with state tax authorities to leveraging existing assets and income for a better outcome, learn strategies that could save your business significant amounts of money and stress.
Thanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
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In this week’s episode of Business by the Numbers, Hunt welcomes Mike Edge from Tread Partners, a fellow podcaster from the Gain Traction Podcast. The dialogue explores the symbiotic relationship between tire sales and auto repair services, emphasizing the strategic value of incorporating tire sales into auto repair shops' service offerings.
Why Sell Tires in Auto Repair Shops? Discover why even repair shops traditionally not focused on tire sales should consider offering tires to their customers. Mike Edge shares insights on how selling tires isn't just about the transaction; it's about fostering long-term, loyal customer relationships. This segment explores the concept that selling tires can be a gateway to securing a customer's business for all their vehicle maintenance needs over the next three to five years.Operational Insights and Strategies: Learn from the practical experiences and strategies of shop owners who have successfully integrated tire sales into their business model. This part of the discussion sheds light on operational considerations, such as space management, inventory selection based on local demand, and the logistics of tire delivery and installation. It also addresses the challenges and benefits of balancing tire sales with high-margin service work, ensuring shops can maintain profitability while enhancing customer satisfaction and retention.Navigating Equipment and Supplier Relationships: For shops considering entering the tire business, this section provides valuable advice on selecting the right equipment and building beneficial relationships with tire wholesalers and distributors. It emphasizes the importance of investing in high-quality, reliable equipment to streamline operations and enhance service quality. Mike also highlights the critical role of choosing a supportive wholesaler, one that not only offers competitive pricing but also provides exceptional service, ensuring shops can meet their customers' needs efficiently and effectively.Realities of the Tire Business With Hunt Demarest of Paar, Melis & AssociatesThanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
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In this week’s episode of "Business by the Numbers," Hunt unpacks the key lessons from Bill Perkins' "Die With Zero." The discussion is not just about the book, but also about how to smartly plan your finances and life. He also talks about seeing retirement as more than just a financial goal. It's a chance to do what you love and enjoy the fruits of your labor.
Rethinking Retirement Worries: We challenge the common fear of not having enough money in retirement. Using real-life examples, we show why this fear might be bigger in our heads than in reality.Time vs. Money: A big part of the talk is about understanding the true value of your time. It's about how you should see your time as money, especially when planning for the future.Knowing Your "Number": We stress the importance of figuring out how much money you actually need to enjoy life without financial stress. This includes a look at how to plan, save, and invest wisely.Spending Smarter in Retirement: We discuss why people often end up saving more than they need and how spending tends to go down as you get older.Thanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
-
In this episode of "Business by the Numbers," Hunt talks about the essential process of setting and achieving business goals for 2024. Drawing from his teaching and podcasting background, he emphasizes the importance of a structured approach to establish clear, actionable goals. He underscores the necessity of living and operating deliberately, setting stretch goals, and adapting strategies based on last year's outcomes.
• Strategic Goal Setting: Understanding why and how to set deliberate goals, avoiding ad-hoc outcomes, and aiming for specific targets like increased sales or better time management.
• Business by Design: Emphasizing the role of entrepreneurs in shaping their business’s future, whether it’s scaling to $35 million or maintaining a modest $35,000.
• Evaluating Paths Based on Past Performance: Deciding on business strategies based on last year’s results—either fine-tuning an existing model or changing direction.
• Stretch Goals and Realistic Expectations: The importance of setting high but attainable goals, understanding that a goal is a target, not a guarantee.
• Practical Examples: Illustrating goal setting with a standard goods shop, discussing realistic financial targets, and managing production and net income effectively.
• Inflation and Pricing: How to handle inflation in pricing strategies, ensuring your business stays financially healthy without compromising on profit margins.
• Demand vs. Supply in Business: Balancing the internal capabilities of your team (supply) with the external demands of the market to meet your business goals.
• Effective Tracking and Review: Monitoring production hours and assessing the effectiveness of marketing strategies to ensure alignment with business goals.
Hunt emphasizes living deliberately, setting ambitious goals, and regularly monitoring your progress. He highlights the importance of planning and adaptation in achieving business success.
Thanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
-
In this episode of "Business by the Numbers," Hunt takes a look at the current state of government spending, the intricacies of the debt ceiling, and how this affects businesses and taxpayers.
• Current State of Government Spending and Debt Ceiling: The ongoing negotiations and potential outcomes if a spending deal isn't reached.
• Impact on Businesses and Taxpayers: Important fiscal policies like the Child Tax Credit, Employee Retention Tax Credit, and R&D Credit, and how they affect U.S. businesses and individual taxpayers.
• Political Dynamics and Future Projections: Analyzing the political landscape, including key figures and parties, and predictions on the government's fiscal direction.
• Practical Implications and Advice: Hunt’s insight on navigating the uncertainties in government policies and their impact on financial planning and business strategies
Thanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
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This week on Business by the Numbers, Hunt explores the complexities of charitable contributions in tax season:
• Understanding Charitable Contributions: The critical differences between cash and non-cash donations, and their respective impacts on tax returns.
• Navigating Deductions: Learn about what qualifies as a deductible charity, including the specifics of GoFundMe contributions and the importance of fair market value in non-cash donations.
• Business Donation Myths Debunked: Uncover common misconceptions about business-related donations, from vehicle repairs to furniture and equipment, and how to accurately claim these on taxes.
• Tax Season Strategies: Gain valuable insights into the proper documentation and reporting strategies for maximizing your deductions and staying compliant.
• Expert Advice and Resources: Benefit from expert advice and learn how our partners contribute to making informed financial decisions.
Thanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
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In this year's first episode, join CPA and racing enthusiast Hunt Demarest as he explores the intersection of race car enthusiasm and savvy business tactics. We're tackling the complex world of race car expenses and their tax implications:
New Year's Goals: Discover Hunt's unique blend of personal and professional resolutions.Racing vs. Accounting: A deep dive into the cost-effectiveness and passion behind racing and its comparison to accounting.Debunking Tax Myths: Learn the truth about race car expenses and tax deductions.IRS Perspectives: Understand the fine line between hobby expenses and legitimate business costs.Audit Insights: Real-world stories from IRS audits related to race car expenditures.Expert Strategies: Practical advice for race car owners on aligning their hobby with business and tax regulations.Audit Preparedness: Tips on documentation and audit defense strategies."Thanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
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In this year-end episode of 'Business by the Numbers,' Hunt gives a comprehensive overview of the latest financial updates and what to expect in 2024. Dive into topics like the Federal Reserve's decisions, ERTC updates, and new tax laws with insightful analysis.
Federal Reserve Insights: Discussion on the Federal Reserve's recent meeting and its implications for interest rates in 2024. Inflation and Economic Trends: Analysis of current inflation trends and predictions for the coming year. ERTC and IRS Updates: Latest information on the Employee Retention Tax Credit and IRS processing updates. 2024 Tax Law Changes: Insights into expected tax law changes and their impact on businesses. FinCEN Reporting Requirements: Overview of the new FinCEN Beneficial Ownership Information Requirements. Credit Card Processors' Class Action Settlement: Information about the recent class action lawsuit settlement involving credit card processors. The Future of Credit Card Fees: Predictions and insights into the potential changes in credit card processing fees.Thanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
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In this week’s episode of Business by the Numbers, Hunt explores strategies for providing employee benefits in a tax-efficient manner. He navigates the complexities of allowances and reimbursements to benefit both your business and your team.
• The Tax Differences Between Allowances and Reimbursements: Understanding the tax implications for employees and the cost-saving benefits for businesses.
• Strategic Financial Management: Practical advice on offering vehicle-related and other expenses as tax-free reimbursements.
• Legal Compliance and Best Practices: Ensuring adherence to tax laws and the importance of accurate documentation in reimbursement processes.
Thanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
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In this week’s episode, Hunt introduces his new book, "Wrenches to Write Offs," offering essential tax tips for repair shop owners. This book combines fundamental tax knowledge with practical strategies for smarter business operations.
• Book Launch: Introduction of "Wrenches to Write Offs," a guide simplifying taxes for repair shop owners.
• Availability: Details on purchasing options, including Amazon's hard copy and Kindle versions, and a free PDF version on the official website.
• Community Impact: All proceeds from the book sales (if you choose to buy through Amazon) are donated to charity, supporting the industry and providing educational scholarships.
Thanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
- Visa fler
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