Business By The Numbers (LSTN Media LLC)

This week Hunt discusses if we ever really will see prices go back to "normal" and how that effects all of us.

• Do you think that prices will ever go down and what about your business? Will you ever decrease your rates?

• How can you decrease your prices if you do not decrease your employee wages?

• How are supply chains effecting prices with increases in ever single step of the distribution chain?

• If prices are only increasing because of costs, why are corporations making record profits in a time where they are supposedly short on cash?

Thanks to our sponsor partner NAPA TRACS

NAPATRACS.com

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

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.

In this episode of Business by the Numbers, Hunt Demarest, CPA at Paar Melis and Associates, discusses the growing trend of owner financing in the auto repair industry. With high interest rates making traditional bank loans less attractive, owner financing offers a viable alternative for both buyers and sellers.

• Evaluating the benefits and risks of owner financing for auto repair shops.
• Key considerations for sellers, including buyer types and financial stability.
• The importance of environmental assessments in real estate transactions. Strategies for mitigating risks and ensuring successful deals.
• Insights into current interest rates and market conditions for owner financing.

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online: www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

Am I Going to Be Audited? This week Hunt discusses if the rumors of 87,000 new IRS agents and if there is any truth to these claims and other causes of audits.

• What is the IRS doing with all the new agents that they are hiring?

• What increases your risks in getting audited and how can you minimize those?

• What are other common types of audits and what should you do if you are ever audited?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

Tax Planning

This week Hunt discusses the importance of tax planning and some tips to save you money.

• When should I start tax planning and how often should you update this?

• Do I have to make estimated tax payments?

• What are the best ways to save taxes?

• What are some common mistakes or bad ideas when trying to minimize taxes?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

This week Hunt talks about the recent Fed meeting, the impacts, and other factors affecting the current market.

• How much impact is the recent Fed rate increase going to have on me?

• What can we learn from the federal reserve that will shape how the rest of the year is going to unfold?

• Is there a real possibility that the US could default on some of its debt and what would be the impacts of this?

• Is a market correction inevitable and is that truly as bad as it sounds?

Link for Chart: https://data.bls.gov/timeseries/JTS000000000000000JOL

Thanks to our sponsor partner NAPA TRACS

NAPATRACS.com

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

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 & Associates

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

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/

patrick@mccormickmtg.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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

In this episode of "Business by the Numbers," Hunt Demarest, CPA, discusses the value and considerations of having a financial advisor. He addresses common questions about the necessity of financial advisors and provides insights into when and why their services may be beneficial.

• Role of a Financial Advisor: Financial advisors offer expertise in managing investments, planning for retirement, and navigating complex financial decisions.
• When You Might Not Need One: Individuals with simple financial situations or who prefer to manage their own finances may not need a financial advisor.
• Choosing the Right Advisor: It's important to select an advisor who understands your goals, communicates well, and charges reasonable fees.
• Advice for Specific Situations: Particularly for those nearing retirement, consulting a financial advisor can provide valuable insights and potentially significant financial benefits.

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

This week in "Business by the Numbers," Hunt explores the vital role of insurance in safeguarding businesses against unexpected challenges. Through real-life cases, Hunt emphasizes the importance of tailored coverage and proactive communication with insurance agents.

• Insurance Misconceptions: Not all "basic" coverage is sufficient.

• In-Depth Case Studies: The consequences of being underinsured.

• Specialized Insurance: Highlighting umbrella insurance and Employment Practices Liability Insurance (EPLI).

• The biggest takeaway? Regularly review and adjust policies to match your business's evolving needs.

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

Thanks to our partners, NAPA TRACS and Promotive

In this episode of Business by the Numbers, Hunt Demarest, CPA, dives into the world of financial projections—what they are, why they matter, and how to build a solid financial story that banks will take seriously. Whether you’re looking to secure a loan, expand your shop, or simply set better financial goals, this episode will help you navigate the process with confidence.

Key Takeaways:

• The biggest mistake shop owners make when creating financial projections.
• Why your story matters more than the numbers when pitching a loan request to a bank.
• The three key levers you can adjust in a financial projection: sales, margins, and expenses.
• How to build a realistic projection that a bank will trust.
• Why working with an accountant on projections can save you from financial disaster.
• Common red flags that make banks reject loan applications.

Thanks to our partners, NAPA TRACS and Promotive

Thanks to our partner, NAPA TRACS

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

Thanks to our partner, Promotive

It’s time to hire a superstar for your business; what a grind you have in front of you. 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: podcast@paarmelis.com

Text Paar Melis @ 301-307-5413

Download a Copy of My Books Here:

• Wrenches to Write-Offs
• Your Perfect Shop 

The Aftermarket Radio Network: https://aftermarketradionetwork.com/

Remarkable Results Radio Podcast with Carm Capriotto https://remarkableresults.biz/

Diagnosing the Aftermarket A to Z with Matt Fanslow https://mattfanslow.captivate.fm/

Managing Fraud - Hunt Demarest - Business by the Numbers 006

This week Hunt discusses common areas of fraud, why it happens and what we can do to stop it. Key talking points:

• What is fraud and how common is it in small businesses

• What are signs of fraud and how can we spot clues that could warn you before fraud happens.

• What can you be doing in your shop right now to minimize your risk of fraud.

The Show is sponsored by Shop-Ware on the web at getshopware.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

Pass Through Entity Tax (PTET) - What You Need to Know

This week Hunt discusses the pass-through entity tax that has become more common and was a big issue during this year's tax season.

• What is Pass-Through Entity Tax?

• Who is eligible to pay this?

• Why would someone elect to use the pass-through entity tax and what are the tax savings?

• How do I set up the Pass-Through

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here Entity Tax?

Thanks to our partners, NAPA TRACS and Promotive

In this episode of Business by the Numbers, Hunt Demarest, CPA, dives into the world of accrual accounting versus cash basis accounting. If you've ever wondered when to record sales, parts costs, or payroll, this episode breaks it all down with practical examples and actionable tips. Learn how aligning your financial processes with accrual-based methods can offer a more accurate picture of your business performance.

• What is accrual accounting, and how does it differ from cash basis accounting?
• The importance of recording sales on accrual to match your shop management software.
• Why accruing parts costs ensures accuracy in financial statements.
• How payroll and overhead accruals can smooth out monthly financial fluctuations.
• Examples of when to prioritize accrual processes for material expenses.

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

Thanks to our partner, Promotive

It’s time to hire a superstar for your business; what a grind you have in front of you. 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: podcast@paarmelis.com

Download a Copy of My Books Here:

• Wrenches to Write-Offs
• Your Perfect Shop 

The Aftermarket Radio Network: https://aftermarketradionetwork.com/

Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/

Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/

Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. https://huntdemarest.captivate.fm/

In this two-part episode of Business by the Numbers, Hunt delves into passing your business on to your children. In Part 1, he explores the key factors that can either strengthen or strain your family relationships during this process. Hunt shares valuable insights and personal experiences to guide you through this important transition, such as;

• The Power of Communication: why open lines of communication are vital to ensure that everyone involved is on the same page.

• Crafting a Solid Plan: Learn from Hunt's observations of successful cases and avoid common pitfalls. The importance of creating a comprehensive plan and, more importantly, sticking to it.

• Striking the Right Balance: Finding equilibrium between securing your retirement and not overwhelming your children with unplanned responsibilities can be challenging. Hunt offers advice to navigate this delicate balance while safeguarding both your financial future and your children's well-being.

Stay tuned for Part 2, where we'll delve deeper into the financial aspects of this journey.

Thanks to our partners, NAPA TRACS and Promotive

Visit NAPATRACS.com and GoPromotive.com

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

Thanks to our partners, NAPA TRACS and Promotive

In this episode of Business by the Numbers, Hunt explores the benefits and considerations of owning your auto shop's real estate. Learn about financing options, affordability, and real-life examples to help you make an informed decision.

-Understand different financing options for purchasing real estate.

-Assess your shop's ability to afford property ownership.

-Learn the long-term benefits of owning your business premises.

-Real-life examples to illustrate key points.



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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

Tech Productivity. Hunt takes a dive into the numbers behind tech productivity and how it affects your bottom line.

• What is tech productivity and why do I care?

• How do I measure tech productivity for my shop?

• How different are sales for a super productive technician compared to an unproductive technician?

• What is the theoretical max sales of my shop based on my production staff?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

Thanks to our sponsor partner NAPA TRACS

NAPATRACS.com

This week Hunt talks about the debt ceiling as well as the national debt and how it is already affecting our lives.

• How does the government generate and borrow money?

• Who is financing the national debt of our country?

• How are these issues affecting you right now, and what future input could that have on your taxes and customers?

• What does the future hold if we want to try and reduce our deficit?

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

Common Financial Issues. Hunt discusses the common issues that he sees when starting to look at a shop's financials.

• Why don’t you understand your financials? Maybe it’s because they don’t make sense to anyone!

• Do your financials match your Shop Management System (SMS)? How do we fix it if they do not?

• How to analyze Parts Margin discrepancies and fix them.

• Eliminating variables from financial statements.

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

Today on Business by the Numbers, Hunt explores key strategies for enhancing business success through effective team management and development, as well as the long-term benefits of strategic employee management and development for sustained business success.

• Strategic Value of Team Retreats: Insights into how team retreats and paid time off (PTO) contribute to employee satisfaction and business growth.

• Collaboration in a Hybrid Work Environment: Adapting to modern work models and the importance of in-person collaboration for team dynamics.

• Investing in Employee Well-being and Training: The critical role of continuous training and employee appreciation in boosting productivity and profitability.

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

In this episode of Business by the Numbers, Hunt Demarest, CPA, from Paar Melis and Associates, breaks down essential steps every auto repair shop should take to prepare for unexpected disasters. After hearing about a client’s close call during a recent Florida storm, Hunt talks about practical advice, tax implications, and planning tips to safeguard your business. Whether it’s power outages, fire, or lost revenue, this episode covers all the bases to ensure you’re ready for anything.

• How to evaluate the tax benefits and practicality of purchasing a generator for your shop.
• Why it’s critical to back up your shop’s data, and how neglecting this can cost you thousands.
• The importance of having three months of operating expenses saved for unexpected downtime.
• What types of insurance coverage auto shops should prioritize, including lost revenue insurance?
• How backup internet options like Starlink can keep your business running smoothly, even in emergencies.

Thanks to our partner, NAPA TRACS

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

Thanks to our partner, Promotive

It’s time to hire a superstar for your business; what a grind you have in front of you. 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: podcast@paarmelis.com

Download a Copy of My Books Here:

• Wrenches to Write-Offs
• Your Perfect Shop 

The Aftermarket Radio Network: https://aftermarketradionetwork.com/

Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion.

Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life.

Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest.

The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level....

In this episode of Business by the Numbers, Hunt Demarest, CPA at Paar Melis Associates, explores how auto repair shop owners can simplify their financial statements using the 50/30/20 profit model.

Key Topics:

• Simplifying KPIs to focus on the most impactful metrics
• How to effectively analyze your P&L statement
• IRS tax extensions for those affected by hurricanes
• Deep dive into the 50/30/20 profit model

https://www.irs.gov/newsroom/irs-provides-relief-for-helene-various-deadlines-postponed-to-may-1-2025-part-or-all-of-7-states-qualify

Thanks to our partner, NAPA TRACS

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

Thanks to our partner, Promotive

It’s time to hire a superstar for your business; what a grind you have in front of you. 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: podcast@paarmelis.com

Download a Copy of My Books Here:

• Wrenches to Write-Offs
• Your Perfect Shop 

The Aftermarket Radio Network: https://aftermarketradionetwork.com/

Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion.

Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life.

Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest.

The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level.

The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from...

Thanks to our partners, NAPA TRACS and Promotive

In this episode, Hunt explores the crucial difference between profit and cash flow. Learn why your high profits don't always translate into more cash in the bank and how to better manage your shop's finances.

• Difference Between Profit and Cash Flow: Understanding why profit and cash flow are not the same and how this affects your financial planning.
• Accounts Receivable Impact: How the timing of your transactions can create a lag between recording a profit and actually seeing the cash.
• Managing Inventory: The effects of inventory purchases on your cash flow and strategies to manage it effectively.
• Fixed Assets and Liabilities: The impact of major purchases and financing options on your cash reserves.
• https://www.tn.gov/revenue/2024franchisetax.html

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

Thanks to our partners, NAPA TRACS and Promotive

This week, Hunt talks about a $40 million tax bill that teaches critical lessons on spousal tax liabilities and business strategies.

• Explore the "Innocent Spouse" provision and its complexities: Learn how this provision can shield a spouse from tax liabilities and why proving innocence can be challenging.
• Understand the tax implications of exercising stock options: Learn the complexities of stock options, including the potential for significant tax liabilities when exercising these options.
• Learn strategies to protect personal and business assets: Get practical advice on structuring business ownership to manage liability and safeguard your personal assets effectively.

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

In this episode of The Weekly Blitz, Coach Chris Cotton welcomes Hunt Demarest to the show and they talk about Income Statement best practices:

Specifically, they cover:

• Categories of Income and COGS (Cost of Goods Sold)
• Hunt's Favorite SuperHero!
• Accounting Practices
• What's Deductible
• How much detail you really need
• Who's Stealing from You & How?
• Processes & Procedures save the day!

Check out Hunt on the Aftermarket Radio Network on his Podcast:

Business by the Numbers: https://huntdemarest.captivate.fm/

I love his Episode #43 How Much Is Your Time Worth

To listen to more episodes make sure and go over to itunes and or Spotify.

Don't forget to rate and review us!

Connect with Chris:

Coach Chris Cotton

AutoFix-Auto Shop Coaching

Visit Auto Shop Coaching website HERE.

940-400-1008

Email Chris: chris@autofixsos.com

AutoLeap Link: https://bit.ly/3n5qW2M

This episode is sponsored by AutoLeap. AutoLeap is a cloud-based all-in-one automotive invoice software that helps you supercharge your mechanic shop. Their customers have experienced:

30% increase in revenue by improving transparency and trust

50% reduction in time spent researching and ordering parts

10% increase in profit margins through robust reporting

Click here to learn more about AutoLeap and schedule a demo:

AutoLeap Link: http://bit.ly/3GRgO88

S-Corp Owners Distributions and Pay. This week Hunt discusses the differences between S-Corp wages and draws and how to maximize to your advantage.

• What are S-Corp Wages and how much should I pay myself?

• How much in draws should I take?

• What are the tax benefits of changing the way that you pay yourself?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

This week, Hunt talks about ROI (return on investment) and how to use it in your day-to-day decisions.

• What is ROI, and how can you calculate it?

• How does time relate to ROI and can your decision be changed based on time even if ROI is the same?

• How does your involvement in an investment dictate what the ROI has to be to make it a prudent choice?

• How can you use ROI to make day-to-day decisions in your business and personal life?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

What is My Break Even Point? This week Hunt talks about break-even points and how it is important to understand this aspect of your business.

• What is a break-even point and how do I calculate mine?

• What are the major drivers of increasing or decreasing your break-even point?

• How to set proper goals to meet your break-even point?

• How do I calculate my business to not break-even, but actually grow and provide a steady profit?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

Thanks to our partners, NAPA TRACS and Promotive

Are you truly a business owner, or just a well-paid employee? In this episode of Business by the Numbers, Hunt Demarest, CPA, dives into the critical distinction between running a business and simply working a high-paying job within your shop. Learn how to measure your hourly rate, assess your true profitability, and make strategic moves to improve your bottom line while working less.

Key Takeaways:

• The difference between being a business owner vs. an overpaid employee
• How to calculate your true hourly rate (and why it matters)
• The role of profit in determining business health vs. personal earnings
• The trade-off between high profit and business independence
• Practical steps to transition from working in your business to working on your business

Thanks to our partners, NAPA TRACS and Promotive

Thanks to our partner, NAPA TRACS

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

Thanks to our partner, Promotive

It’s time to hire a superstar for your business; what a grind you have in front of you. 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: podcast@paarmelis.com

Download a Copy of My Books Here:

• Wrenches to Write-Offs
• Your Perfect Shop 

The Aftermarket Radio Network: https://aftermarketradionetwork.com/

Remarkable Results Radio Podcast with Carm Capriotto https://remarkableresults.biz/

Diagnosing the Aftermarket A to Z with Matt Fanslow https://mattfanslow.captivate.fm/

Business by the Numbers with Hunt Demarest https://huntdemarest.captivate.fm/

The Auto Repair Marketing...

Thanks to our partners, NAPA TRACS and Promotive

Welcome to this week’s episode of Business by the Numbers with Hunt Demarest, CPA. Today, we’re taking a deep dive into how certain actions or oversights could put you at risk for an IRS audit. By understanding these triggers, you can better safeguard your financial health and avoid unnecessary complications.

• Learn about common mistakes like underreporting income and how they can put you on the IRS’s radar.
• Discover how gambling winnings and losses can attract scrutiny.
• Explore why industries like art, wine, and horses often face extra attention from the IRS.
• Understand why amending a Schedule C return can almost guarantee an audit.
• Tips to avoid an audit, such as maintaining accurate documentation and working with knowledgeable tax professionals.

Stay informed to protect your business and personal finances from unnecessary IRS scrutiny.

Thanks to our partner, NAPA TRACS

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

Thanks to our partner, Promotive

It’s time to hire a superstar for your business; what a grind you have in front of you. 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: podcast@paarmelis.com

Download a Copy of My Books Here:

• Wrenches to Write-Offs
• Your Perfect Shop 

The Aftermarket Radio Network: https://aftermarketradionetwork.com/

Remarkable Results Radio Podcast with Carm Capriotto https://remarkableresults.biz/

Diagnosing the Aftermarket A to Z with Matt Fanslow https://mattfanslow.captivate.fm/

Business by the Numbers with Hunt Demarest https://huntdemarest.captivate.fm/

The Auto Repair Marketing Podcast with Kim...

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

Thanks to our partners, NAPA TRACS and Promotive

The holiday season can make or break your cash reserves, especially for auto shop owners juggling finances. In this episode of Business by the Numbers, Hunt Demarest, CPA, breaks down the art of cash management for small businesses. Learn actionable strategies to protect your reserves and avoid the pitfalls of cashflow mismanagement.

• Understanding what "cash reserves" truly mean for your business.
• Setting the ideal reserve amount: three to six months of operating expenses.
• The dangers of draining your business for personal finances and how to avoid it.
• Why keeping too much cash in the business might not be as safe as you think.
• Strategies to pay down debt responsibly without creating a cash crunch.

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

Thanks to our partner, Promotive

It’s time to hire a superstar for your business; what a grind you have in front of you. 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: podcast@paarmelis.com

Download a Copy of My Books Here:

• Wrenches to Write-Offs
• Your Perfect Shop 

The Aftermarket Radio Network: https://aftermarketradionetwork.com/

Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/

Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/

Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. https://huntdemarest.captivate.fm/

Adjusting Parts Matrix for Inflation. This week Hunt talks about what why you might need to and how to adjust your parts matrix for inflation.

• How is it possible for me to sell the same part for more money, but actually profit less?

• How to analyze if you have an issue with declining parts margins.

• What is going on in your parts matrix to cause declining profits?

• How do you adjust your parts matrix to ensure that you are making more money.

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

Employee Retention Tax Credit (ERTC) and R&D Credit. This week Hunt discusses some tax credits that are being pushed to business owners recently.

• What is the ERTC and do I qualify for it?

• How do I know if I qualify and are there different things to look at with this credit?

• What is the R&D Tax Credit?

• What kinds of things do I need to be doing in order to qualify for this credit?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

• Lack of Study of basic economics and statistics
• Reversion to the Mean
• Simpson's Paradox
• Inflation and Projecting Future Trends
• Hunt Demarest, CPA, Paar Mellis and Associates, Business by the Numbers Podcast

The show is sponsored by NAPA Auto Care napaautocare.com

NAPA Benefits Center: napabenefitscenter.com

NAPA Member Site: member.napaautocare.com

Email Matt: mattfanslowpodcast@gmail.com

Diagnosing the Aftermarket A - Z YouTube Channel HERE

This week Hunt discusses how sometimes reflecting on the past financials isn't always fun but its always necessary.

• What is the purpose of financials and how does past performance effect future expectations?

• How can I utilize past months or years financials to judge the accuracy or expectations of sales targets and projections?

• What can I learn from bad months and is there always something that needs to be done to change?

• How to understand the difference between the new normal or a one-time event that drastically changes your response?

Thanks to our partners, NAPA TRACS and Promotive.

Visit NAPATRACS.com and GoPromotive.com

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

Shady Service Advisor

This week Hunt discusses an issue he came across with one of his shops and service advisors manipulating RO's to inflate gross profit.

• How was this service advisor able to do this?

• What are some tips for being able to stop this from happening in your shop?

• What are signs or metrics that could show that this is going on in a shop?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

Self Rental Tips & Tricks. This week, Hunt talks about how to make sure you are limiting your liability and maximizing the benefits of renting real estate from yourself.

• Why is it important to separate your real estate from your operating company?

• How should you setup the entities for your operating entity and your real estate entity?

• What is fair market rent and how do I figure this number out for my shop?

• Which entity should pay for certain expenses and what are the benefits of doing it this way?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

In this episode of Business By the Numbers, Hunt discusses the topic of credit card processing fees and their impact on business.

• Should businesses pass on these fees to customers?

• Consider the customer's experience and the potential backlash of charging credit card fees.

• Potential changes being debated in Congress that could affect credit card processing fees and rewards programs.

Thanks to our partners, NAPA TRACS and Promotive

Visit NAPATRACS.com and GoPromotive.com

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

How to Sell Real Estate and Avoid Taxes (1031 Exchange). This week Hunt talks about a way that you can avoid all taxes when selling a property.

• How much tax do I generally pay when I sell a piece of real estate?

• How can I utilize a 1031 exchange to reinvest proceeds into a new property?

• What are things that you need to be aware of in order to qualify to do an exchange?

• What are some creative strategies on how these exchanges can be used to pass down property without taxes to the next generation?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

Going Multi-Location Part 2 - Evaluation

In part 2 of the crash course on going multi-location, Hunt discusses getting into the details of a shop and coming up with a fair price

• What kind of reports should I be asking from the seller?

• What should you be looking at on the financials, the good the bad, and other things that can give more insight into the business.

• How to I come up with a fair price for the business based on the net income of the shop and add-backs?

• How do I start the process of negotiating a possible deal?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

Do you recall episode 49, about the Automotive Industry Benchmark Report? Well, its release is fast approaching! Today, Hunt goes deeper into the origins of the report, the questions posed, and a sneak peek at some (surprising) discoveries.

Nuanced relationships, direct or inverse, between different variables and metrics in the automotive industry.

Linking Labor Rate and Profit: One key highlight from the report is the insight on the Overall labor rate and its correlation with profit. Were there notable differences between different locations?

Sales vs. Profit Growth: We also explored a vital question: Is there a direct link between escalating sales and an increase in profit as a percentage of sales? Our findings might surprise you.

Thanks to our partners, NAPA TRACS and Promotive

Visit NAPATRACS.com and GoPromotive.com

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online: www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

Profitability & Key Metrics with Patrick McHugh of Bimmer Rescue.

This week Hunt sits down with Patrick to discuss his philosophy on driving profits and how he keeps his business moving in the right direction.

• What metrics should you be using to guide your day to day business

• Why it is important to track KPI and trends regularly versus finding out after the fact that you missed the mark.

• How to set up a business that not only drives profits but sets a strong foundation in team culture, community involvement, and positivity.

The Show is sponsored by Shop-Ware on the web at getshopware.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

This week, Hunt talks with Frank Scandura of Frank's European Service in Las Vegas.

• What number do you focus on in your business lately and what have you done to change your business?

• What is a key number or area of focus that most new shop owners don't understand?

• If you were to start over what have you done differently knowing what you know now?

• What do you foresee in the future for the industry and what are you doing to stay ahead of it?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

Entity Choices - Taxation and Legal Protection

• What is the difference between a Corporation, LLC and Sole Proprietor?

• What are my options for taxation for a LLC?

• How should I setup my real estate entity and why is it important to have that in a LLC?

• How should I setup my loaner car LLC... or should I?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

In this episode of Business by the Numbers, Hunt simplifies the W-4 form process for auto repair shop owners, employees, and families to avoid tax-time surprises. Whether you’re filling out your own W-4 or helping a team member, this guide makes it easy to get your withholding right.

• Key Sections of the W-4 Form: Learn how to correctly fill out basic information, handle multiple jobs, and claim dependents.
• Practical Tips for Business Owners: Get expert advice on managing withholding for yourself and your team, including special considerations for accurate tax withholding.
• Exemptions for Working Kids: Discover how to manage W-4 exemptions for your children to prevent unnecessary tax withholdings."

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

On this Episode of Business by the Numbers, Hunt reflects on his time at the STX conference in Nashville, sharing stories about the connections made and lessons learned from industry experts.

• Economic News Breakdown: We get into the latest economic updates that dropped last Wednesday. Hunt breaks down what these changes in numbers might mean for your wallet and business this year, especially when it comes to interest rates.

• Tax Talk and Government Spending: Hunt explains the proposed wealth tax and what the latest federal budget might mean for us. There’s a lot of talk about balancing the budget without raising taxes too much, and we'll explore what that could look like.

• Capital Gains and Your Money: We take a closer look at potential hikes in capital gains taxes and how these could affect your investments and long-term financial planning.

• Understanding the Numbers: Inflation, GDP... these terms get thrown around a lot. We’ll unpack what they really mean for the economy and for us as workers and business 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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

Handling Big Purchases

This week Hunt discusses the different ways to finance large purposes and how that changes the tax treatment?

• Should I buy or lease my equipment and does that affect my taxes?

• How are different kinds of leases taxed?

• What kind of car will get me the most tax savings?

• What kind of improvements to my real estate am I allowed to write the entire amount off?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online: www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

This episode of Business by the Numbers is Part 3 (and the final part) of the 2024 benchmark series! What separates the most profitable auto repair shops from those struggling to turn a profit? Today, he's tackling that question using financial data and real-world insights from hundreds of shops across the industry. What you'll take away from this episode:

• Understand what the top 10% of shops are doing right – and what the bottom 10% are doing wrong.
• Why labor productivity is actually the most important predictor of profitability.
• Why do understaffed shops often outperform overstaffed ones?
• How profitability peaks as a shop grows and optimizes, but also how maintaining that peak can be unsustainable.
• The ongoing debate on flat rate vs. hourly pay for technicians and service advisors, and how it impacts shop performance.
• Download the Benchmark Report for yourself and follow along! https://info.paarmelis.com/2024-automotive-industry-benchmark-report

Thanks to our partner, NAPA TRACS

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

Thanks to our partner, Promotive

It’s time to hire a superstar for your business; what a grind you have in front of you. 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: podcast@paarmelis.com

Download a Copy of My Books Here:

• Wrenches to Write-Offs
• Your Perfect Shop 

The Aftermarket Radio Network: https://aftermarketradionetwork.com/

Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion.

Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life.

Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest.

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

Thanks to our partners, NAPA TRACS and Promotive

Welcome to another episode of Business by the Numbers, hosted by Hunt Demarest, CPA, with Paar Melis & Associates. This week, we're diving into the pros and cons of leasing versus buying vehicles and equipment, covering critical tax implications and cash flow considerations. Whether you're eyeing a new luxury SUV or financing essential shop equipment, this episode breaks down the factors that influence your financial decisions.

Key Points:

• Leasing vs. Buying: Understand the key differences, from cash flow management to tax deductions, when deciding whether to lease or purchase vehicles or equipment.
• Tax Implications: Learn how vehicle weight (like the 6,000-pound gross vehicle weight rule) affects first-year deductions.
• Leasing Equipment: Discover why leases dominate the automotive equipment industry and how they’re treated for tax purposes.
• Cash Flow Management: Explore how financing options impact cash flow, both short and long-term.
• Real-Life Scenarios: Gain insights from real-world examples, like a $3,000 savings on a BMW purchase using dealership financing incentives.

Thanks to our partners, NAPA TRACS and Promotive

Thanks to our partner, NAPA TRACS

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

Thanks to our partner, Promotive

It’s time to hire a superstar for your business; what a grind you have in front of you. 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: podcast@paarmelis.com

Download a Copy of My Books Here:

• Wrenches to Write-Offs
• Your Perfect Shop 

The Aftermarket Radio Network: https://aftermarketradionetwork.com/

Remarkable Results Radio Podcast with Carm Capriotto https://remarkableresults.biz/

Diagnosing the Aftermarket A to Z with Matt Fanslow https://mattfanslow.captivate.fm/

Today on Business by the Numbers, Hunt talks about potential government shutdowns. He discusses why we're here, including the Ukraine funding and the political spending tug-of-war.

• How can the wobbly government budget mess with our day-to-day? The ups and downs of the fiscal year and why getting those 12 funding bills passed is like herding cats.

• Real Talk: If things go south, how bad can it get for our government workers and contractors? And what does it mean for the rest of us – not just in the U.S. but globally too?

• Hunt also talks about projections regarding federal debt. He’ll break down some of the numbers, chat about the "now or never" vibes, and why October can be a financially volatile month.

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

Watch the Episode on YouTube

Hunt Demarest, CPA, Paar Mellis and Associates, Business by the Numbers Podcast

Matt Fanslow, Riverside Automotive, Red Wing, MN, Diagnosing the Aftermarket A to Z Podcast

Kim and Brian Walker, Shop Marketing Pros, Auto Repair Marketing Podcast

Chris Cotton, AutoFix Auto Shop Coaching, Chris Cotton Weekly Blitz Podcast

• What REALLY contributes to production?
• Simpson Paradox
• Simon Sinec points out that Navy Seal teams value Trustworthiness far, far more than Performance.  VIDEO HERE 
• Tech productivity is one of the most important aspects of business, but how can these numbers skew what that employee is really doing (helping others, sharing duties outside of production, etc.)
• Are there some numbers or metrics that actually can look too good, which could cause an issue for growth or retention
• Numbers don’t lie, but sometimes can be misleading. Do your numbers match up with what you are trying to do with the business?
• You have to have your head up and eyes wide open to make sure you can identify the "doers" in your group. 
• Do you have a scorecard for success for your technicians?
• Pay plans; incentive greatness
• Who are your ‘support people' to contribute and make the whole picture better
• Culture is contagious
• Training when hiring-

This week, Hunt talks ROTH Retirement:

• What is the difference between a ROTH IRA and a ROTH 401K? What are the benefits and drawbacks to each?

• How does taxation differ based on age? If you are over versus under 50 years old, how does this affect contributions?

• How do personal goals and tax rates affect which retirement account makes the most sense?

• If you have kids, how can you help them by starting a ROTH IRA while they are young and how can this impact them later?

Thanks to our partners, NAPA TRACS and Promotive

Visit NAPATRACS.com and GoPromotive.com

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online: www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

Recorded at Vision KC 2022

Tech Training with Travis Troy. This week Hunt sits down with Travis Troy of Honest Wrenches in IA. We cover a lot of great topics including:

• Why tech training is so important and why the cost of training and even shutting down your shop works in your favor.

• What Travis has learned from starting a shop in a storage unit to creating 2 extremely successful shops.

• Talk about the struggles that he has managing and running the shops and how he is constantly learning himself.

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

This week on Business by the Numbers, Hunt discusses the challenges in a multi-service auto repair business, focusing on misconceptions about profitability. He analyzes a Trucking Business and the power of accounting such as:  

• Understanding direct, labor, and overhead costs. The role of accounting tools in revealing true financial insights and evaluating hidden and opportunity costs. 
• The pivotal decision to shut down an unprofitable transport sector leading to growth in
• the primary business.
• An accountant's role in providing clarity and empowering business owners to make
• informed choices.

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

Thanks to our partners, NAPA TRACS and Promotive

In this episode of Business by the Numbers, Hunt Demarest, CPA, dives into a major economic issue that could impact your auto repair shop: stagflation. With inflation staying high and economic growth slowing, what does this mean for your business? Should you be concerned about a recession, and how can you prepare? Hunt breaks it all down with real-world insights and historical comparisons to the 1970s economic crisis.

🔹 What You’ll Learn in This Episode:

• What stagflation is and why it matters now.
• How inflation is outpacing wage growth and hurting the middle class.
• The impact of tariffs, oil prices, and fiscal policy on businesses.
• Lessons from past economic downturns (1970s and Japan's lost decades).
• How auto repair shop owners can stay profitable in a shifting economy.

Stay ahead of the curve and make informed decisions for your business!

Thanks to our partner, NAPA TRACS

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

Thanks to our partner, Promotive

It’s time to hire a superstar for your business; what a grind you have in front of you. 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: podcast@paarmelis.com

Text Paar Melis @ 301-307-5413

Download a Copy of My Books Here:

• Wrenches to Write-Offs
• Your Perfect Shop 

The Aftermarket Radio Network: https://aftermarketradionetwork.com/

Remarkable Results Radio Podcast with Carm Capriotto https://remarkableresults.biz/

Diagnosing the Aftermarket A to Z with Matt Fanslow https://mattfanslow.captivate.fm/

Business by the Numbers with Hunt Demarest https://huntdemarest.captivate.fm/

The ERTC (Employee Retention Tax Credit) is something Hunt has talked about in the past (See Episode 10 and 33) but this week, he wants to discuss the current status of the IRS with regard to auditing and follow-up on businesses that have claimed this credit, such as:

• IRS is upping their fines if you don't disclose all funds, even the legit ones.
• IRS amnesty programs: From a simple "Hey, I've got this account" to "I owe you, let's settle."
• The IRS usually has three years to ask for back taxes, but some exceptions exist. If you've taken the ERTC money, there's a two-year period where the IRS might have you on their radar. Bigger amounts = more attention.
• The ERTC program's end is in sight, with some parts set to phase out soon.
• Want more details? Click here: https://www.irs.gov/newsroom/to-protect-taxpayers-from-scams-irs-orders-immediate-stop-to-new-employee-retention-credit-processing-amid-surge-of-questionable-claims-concerns-from-tax-pros

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

This week Hunt discusses the differences in taxation of common expenses that you might not be aware of.

• What kind of meals am I allowed to deduct and how are in house meals different than meals offsite?

• How much of a deduction do I get if I donate my services to a charity or donate a piece of business equipment?

• Should I write off my life insurance premiums?

• What other classifications should I be aware of on my P&L that could effect my end of year taxes?

Thanks to our sponsor partner NAPA TRACS

NAPATRACS.com

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

In this episode of "Business by the Numbers," Hunt explores the critical topic of health insurance for small businesses. Listeners will gain valuable insights into navigating the complexities of health insurance options, managing costs effectively, and understanding the legal and financial implications of providing health benefits in a small business setting.

• Exploring Health Insurance Options for Small Businesses: Whether you're currently offering health insurance or considering it, Hunt discusses the challenges and misconceptions surrounding group health plans, individual plans, and the impacts of policies like Obamacare on small businesses.

• Practical Advice on Managing Health Insurance Costs: The episode offers insightful strategies on handling health insurance costs, including the benefits of high deductible health plans and Health Savings Accounts (HSAs). It also touches on the use of Professional Employer Organizations (PEOs) as a cost-saving measure and navigating the intricacies of state-specific insurance regulations.

• Compliance and Financial Considerations: Get expert insights on the legal and financial aspects of providing health insurance, including IRS rules, non-discriminatory practices, and the real cost comparisons between group and individual plans. This episode is essential for small business owners seeking to make informed decisions about health insurance while staying compliant and financially prudent.

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

Thanks to our partners, NAPA TRACS, and Promotive

A critical topic for business owners: how much you should pay yourself as an S-corporation owner. This episode clears up common misconceptions around payroll, distributions, and tax savings strategies. Whether you're a small business owner or a shop manager, understanding these financial nuances is crucial for maintaining profitability and compliance.

Key Points:

- Clarification of the S-corporation owner's dual roles as an employee and business owner, and their impact on financial strategy.

- Differences between payroll and distributions and how they affect tax liabilities.

- Why overpaying yourself in wages does not save on taxes and the financial consequences of excessive payroll tax burdens.

- The IRS's guidelines on "fair and reasonable salary" for S-corp owners and how to meet this requirement effectively.

- Social Security contributions: strategies for maximizing benefits while minimizing unnecessary tax burdens.

Thanks to our partner, NAPA TRACS

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

Thanks to our partner, Promotive

It’s time to hire a superstar for your business; what a grind you have in front of you. 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: podcast@paarmelis.com

Download a Copy of My Books Here:

• Wrenches to Write-Offs
• Your Perfect Shop 

The Aftermarket Radio Network: https://aftermarketradionetwork.com/

Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/

Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/

Business by the Numbers with Hunt Demarest: Understand the Numbers of Your...

Welcome back! Now, for part 2 of Passing Your Business on to the Next Generation. Today, Hunt continues to explore the crucial steps involved in transitioning your business to the next generation. Last week, He talked about effective communication, creating a solid plan, and achieving a balanced deal that ensures both your retirement and your children's success. Today, Hunt deep dives into some of the technicalities of the process, providing valuable insights to help you make informed decisions.

Selling Stock vs. Selling Assets to your children: Factors that influence whether you should sell the stock or the assets of your business. Gain a better understanding of the kinds of situations where you might make either choice.

Financing: Get insight about the best way for your child to get the loan they’ll need to buy your business. Is it ever a good idea to finance it yourself?

Gifting the Business: Learn some of the necessary steps to safeguard your business when planning to gift it. Hunt shares some strategies to ensure everything is in order and explores options available for gifting your business.

Passing Your Business on to the Next Generation - Part 1: The Basics

Thanks to our partners, NAPA TRACS and Promotive

Visit NAPATRACS.com and GoPromotive.com

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

Thanks to our partners, NAPA TRACS and Promotive

In this episode, Hunt Demarest, CPA with Paar Melis & Associates, discusses the importance of regularly analyzing your financials. Learn how to effectively use daily and monthly reviews to drive your shop’s profitability and productivity.

Key Takeaways:

• Daily Reviews: Focus on productivity using shop management software.
• Monthly Reviews: Focus on profitability using financial statements.
• Key Metrics: Track productivity, profitability, and parts gross profit.
• Scientific Approach: Identify problems, hypothesize solutions, test, and analyze outcomes.



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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

Selling Your Shop to Key Employee. This week Hunt discusses some of the options that are out there for selling your shop to a key employee and how to retain them until you are ready to sell.

• Why is selling a minority share in your business a bad idea?

• What selling to an internal party in your business can be a win for both the buyer and the seller?

• How to structure a plan to transition to this new owner while he remains an employee?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

Technician Pay, Tools, and Taxes with Hunt Demarest

• Technicians want to know how their personal taxes and tools purchased for work are managed on your tax return.
• Flat Rate vs. Salary + Incentives
• Tax consequences

Listen To Business By the Numbers Podcast with Hunt Demarest HERE.

Hunt's Company Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

The show is sponsored by NAPA Auto Care napaautocare.com

NAPA Benefits Center: napabenefitscenter.com

NAPA Member Site: member.napaautocare.com

Email Matt: mattfanslowpodcast@gmail.com

Diagnosing the Aftermarket A - Z YouTube Channel HERE

Thanks to our partners, NAPA TRACS and Promotive

In this week's episode of Business by the Numbers, Hunt Demarest, CPA, dives into the recent market volatility triggered by a disappointing jobs report and poor earnings from major companies. He explains the role of the Federal Reserve and the implications of the SOM Rule on predicting recessions.

• Market Drop: The market took a significant hit due to a higher-than-expected unemployment rate of 4.3%, compared to the anticipated 4.1%.
• Earnings Reports: Major companies, including Amazon, Google, and Nvidia, reported poor earnings, contributing to the market decline.
• Federal Reserve Influence: The Fed's control over interest rates and money supply directly impacts inflation and market volatility.
• SOM Rule: The SOM Rule, with a perfect recession prediction record, indicates a likely recession if unemployment rates rise more than 0.5% above the previous year's average.
• https://finance.yahoo.com/news/stock-market-news-today-nasdaq-enters-correction-dow-falls-600-points-as-disappointing-jobs-report-shakes-investors-133048116.html
• https://www.bls.gov/charts/employment-situation/civilian-unemployment.htm
• https://www.marketwatch.com/livecoverage/jobs-report-for-july-employment-growth-seen-slowing-with-hurricane-providing-a-drag/card/the-sahm-rule-is-officially-triggered-tvQVLLwkOPdqTIA45gsP
• https://www.reuters.com/markets/us/drop-magnificent-seven-could-drag-down-us-stocks-top-fund-manager-says-2024-07-30/
• https://www.cnbc.com/quotes/.MAG7

Aftermarket Radio Network

Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion

• YouTube
• Spotify
• Apple

Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life.

• YouTube
• Spotify

Thanks to our partners, NAPA TRACS and Promotive

Today,

Hunt explores how to understand and improve your effective labor rate, one of the most important aspects of running a profitable auto repair shop.

• Understanding Effective Labor Rate: Learn the difference between
• street rate and effective labor rate, and why focusing on the latter is
• essential.
• Oil Change Example: Hunt breaks down an example using oil changes to
• explain how effective labor rate impacts profitability.
• Comparison of Two Shops: Explore a real-world comparison of
• two similar shops with different labor rates and see which one is more
• profitable.
• Actionable Insights: Get practical tips on how to improve your shop's effective labor rate and overall profitability

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.

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

This week Hunt discusses how sometimes reflecting on the past financials isn't always fun but its always necessary.

• What is the purpose of financials and how does past performance effect future expectations?

• How can I utilize past months or years financials to judge the accuracy or expectations of sales targets and projections?

• What can I learn from bad months and is there always something that needs to be done to change?

• How to understand the difference between the new normal or a one-time event that drastically changes your response?

Thanks to our partners, NAPA TRACS and Promotive.

Visit NAPATRACS.com and GoPromotive.com

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

Retirement Options and Tax Advantages

This week Hunt discusses some of the options that are out there for retirement and how they can be the best tax deduction for you.

• What kind of retirement options are out there, business and personal.

• How do I fund these retirement accounts and what kind of tax savings will this give me?

• What retirement account is right for me and my business?

• What are the maximum amounts that I can fund and what are my options if I have exhausted all the classical options in retirement?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care at https://www.napaonline.com/en/auto-care

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

This week Hunt discusses the basics behind debt and how to pay your debt down in a safe manor.

• What factors go into evaluating whether debt is a good option or not?

• How does leverage work with debt and how do you analyze the situation to make sure it will be a profitable one?

• Do I actually want to be debt free or is this debt making me more money than it is costing me?

• How do I select what debt to start paying down first?

Thanks to our sponsor partner NAPA TRACS

NAPATRACS.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

In this week's episode of Business by the Numbers, Hunt Demarest, CPA, discusses the critical decision of whether auto repair shop owners should buy their current building or move to a new location. With skyrocketing real estate costs and fluctuating interest rates, understanding the financial implications of this decision is more important than ever. Hunt breaks down how to calculate the impact of such a move on your shop’s bottom line.

Key Points:

• Weighing the pros and cons of buying your shop’s building vs. relocating.
• How to calculate the financial impact of moving or purchasing real estate.
• Understanding the role of gross profit percentage in your decision-making process.
• Real-world examples of auto repair shops navigating these tough decisions.
• Key factors to consider when forecasting sales and profitability after a move.

Thanks to our partner, NAPA TRACS

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

Thanks to our partner, Promotive

It’s time to hire a superstar for your business; what a grind you have in front of you. 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: podcast@paarmelis.com

Download a Copy of My Books Here:

• Wrenches to Write-Offs
• Your Perfect Shop 

The Aftermarket Radio Network: https://aftermarketradionetwork.com/

Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion.

Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life.

Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest.

The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level.

The Weekly Blitz with...

1. Inflation.

This week, Hunt discusses inflation, how it affects your business and personal life, and what you need to do to try and work with it.

• What is inflation, and how is it calculated?

• What is causing the high inflation that we are seeing today?

• What can you be doing right now to offset inflation and still be a profitable business?

• What does the near future look like because of this inflation and the economy in general?

This week Hunt discusses the actual cost of that aging loaner fleet. Are they really as cheap as you think?

• What is an opportunity cost? How does that impact the actual cost of my loaner fleet?

• Does opportunity cost apply to me and my team equally?

• So, you spend a couple hundred dollars in parts to keep that beater on the road, but is it really "cheaper than a car payment?"

• How does opportunity cost apply to a tow truck that I also have off the road and not making me money?

Thanks to our sponsor partner NAPA TRACS

NAPATRACS.com

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

Tax

Tips and Common Questions. This week Hunt discusses some of the most common

questions and issues that come up during tax season.

•What is an extension and why do you file one? Is it the right move or are you

costing yourself money?

• What is Section 179 Expense? When should you use it and what can qualify for accelerated depreciation?

• What are tax brackets and how is different kinds of income taxed?

• How do your distributions get taxed from your business and do your distributions even effect your taxes?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care at https://www.napaonline.com/en/auto-care

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

In this week's episode, Hunt delves into the disturbing world of predatory lending, where borrowers are manipulated and taken advantage of by unscrupulous lenders. He’ll discuss things such as;

• The circumstances that lead people to seek loans from predatory lenders

• Insights into the functioning of these predatory lending "banks" and the strategies they employ to keep borrowers trapped in cycles of debt.

• The various options available to business owners facing financial hardships, and alternatives that can aid them without falling into the clutches of predatory lenders.

• The impact of hidden fees and how they accumulate into outrageously high interest charges, contributing to the borrower's financial burden.

Thanks to our partners, NAPA TRACS and Promotive

Visit NAPATRACS.com and GoPromotive.com

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

Today, Hunt unpacks the groundbreaking verdict against the National Association of Realtors that's shaking up the real estate world

Show Notes

• Verdict Breakdown: What the NAR ruling means for future home sales and industry reforms. 
• Commissions in Question: Insight into how the lawsuit may dismantle traditional commission structures. 
• Industry Impact: From $1.8 billion judgments to the potential restructuring of real estate giants. 
• Market Evolution: The shift toward transparency and fairness in real estate transactions. 

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

Today on Business by the Numbers, Hunt compares a 5-year equipment lease to a 5-year bank loan to help you understand the financial and tax impacts of each option. He explains:

• Different lease types and their impacts.

• Case Study: Toyota Corolla: To buy or lease? Tax angles: full deduction for loans vs. lease payment deductions.

• Why Lease? What are the Structures, benefits, and pitfalls of leasing? He also talks about the allure of leasing luxury cars, like why cars like BMW are commonly leased.

• Business Equipment Leasing: Short-term vs. long-term: which to choose?

• Equipment Choices: Alignment rack decisions: purchase, finance, or lease?

• Interest Rates: Transparent bank rates vs. vendor lease mysteries.

• Maximizing Loan Benefits: Early payoff = more savings.

• Navigating Today's Finance: Adapting to soaring interest rates and market shifts.

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

In this episode of Business by the Numbers, host Hunt Demarest, CPA, continues the in-depth exploration of the 2024 Benchmark Report. This week, he analyzes the intricacies of shop sizes, locations, and industry trends, setting the stage for next week's grand finale on top versus not shops.

• Breakdown of shop performance based on size and location across the U.S.
• Insights into regional profitability, labor rates, and productivity metrics.
• Key takeaways for shop owners on how to compare their performance with peers.

To get the report: https://info.paarmelis.com/2024-automotive-industry-benchmark-report

Thanks to our partner, NAPA TRACS

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

Thanks to our partner, Promotive

It’s time to hire a superstar for your business; what a grind you have in front of you. 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: podcast@paarmelis.com

Download a Copy of My Books Here:

• Wrenches to Write-Offs
• Your Perfect Shop 

The Aftermarket Radio Network: https://aftermarketradionetwork.com/

Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion.

Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life.

Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest.

The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level.

The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching.

In this episode, Hunt tackles the pressing issues facing the housing market in 2024, discussing the impact of interest rates and the real affordability of homes.

• Interest Rates Surge: Exploring how doubled interest rates are drastically affecting monthly payments.

• Affordability Crisis: Delving into how rising home prices are outpacing income growth, making home ownership a distant dream for many.

• Economic Insights: Analyzing the mismatch between the growth in home prices and stagnant wage increases.

• Future Risks: Assessing potential market corrections and their consequences on homeowners and the economy.

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

Thanks to our partners, NAPA TRACS and Promotive

In this episode of Business by the Numbers, Hunt dives into the critical topic of self-rentals for shop owners. Whether you’re already renting your property to your business or just considering it, Hunt explains why paying yourself rent the right way protects your assets, ensures compliance, and preserves your business’s value.

• Learn why legal protection through a rental LLC is non-negotiable.
• Discover how to calculate fair market rent and why it matters.
• Avoid common pitfalls that could devalue your business when it’s time to sell.
• The role of rental LLCs in protecting personal and business assets.
• How to set up leases and bank accounts for compliance.
• Why undervaluing your rent can cost you during business sales.
• Tax implications of self-rentals (spoiler: it’s not about saving money).
• How to determine fair market rent for your property.

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

Thanks to our partner, Promotive

It’s time to hire a superstar for your business; what a grind you have in front of you. 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: podcast@paarmelis.com

Download a Copy of My Books Here:

• Wrenches to Write-Offs
• Your Perfect Shop 

The Aftermarket Radio Network: https://aftermarketradionetwork.com/

Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/

Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/

Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. 

Driving Profits Through Labor. This week Hunt is joined by Jaron Kleber from Repair Shop of Tomorrow to discuss the importance of labor profitability.

• Is your posted labor rate set appropriately to make your desired labor gross profit?

• Do you know what your technicians cost you per hour?

• Do you know what your effective labor rate is?

• Are you utilizing a labor matrix?

Jaron's Email:

jaron_kleber@repairshopoftomorrow.com

Webinar Recording Link:

https://attendee.gotowebinar.com/recording/2884779187636798982

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

How to Find Your Next Technician with Chris Lawson. This week Hunt is joined by Chris Lawson from Technician Find and we talk about how is able to find quality tech's even in todays market.

• What are things that you can do to stand out and attract top level talent?

• How can you setup a help wanted ad that delivers the right message to prospective employees?

• Why it is so important to not only have a strong internal culture, but to make it public to customers and the community?

• What are common mistakes that people make during interviews and after that make prospective employees disappear?

www.technicianfind.com

chris@technicianfind.com

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

How Much is Your Time Worth? This week, Hunt talks about how profit is relative to the amount of time you spend working in your business.

•  Why is your own time rarely considered when measuring the success or failure of your business?

•     How do you calculate your hourly rate that you are actually making from your shop?

•     How can you improve your hourly rate and what changes do you need to make?

•     Do you value time or money more and are your goals actually catered to the correct direction?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

Last episode, I talked about factors that play into calculating customer acquisition cost for your business. This week, I'll explore how you can figure out what an appropriate acquisition cost is for your shop. As usual, it's not a one-size-fits-all answer, but I’ll talk about a few factors that can help you decide:

• Advertising Spend as a Percentage of Sales: Many successful businesses allocate around 6% of their sales for advertising purposes, but does this apply to all shops?

• How much free demand does your shop have? From physical visibility to word-of-mouth, what kind of factors to consider when determining how much advertising you need to do.

• Understanding how customer retention and loyalty relate to customer acquisition cost, especially from the perspective of Average Repair Order (ARO)

Thanks to our partners, NAPA TRACS and Promotive

Visit NAPATRACS.com and GoPromotive.com

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

This week, Hunt talks about what he thinks 2023 will look like for small businesses and the overall economy.

• What is happening with inflation, and why is it such an important metric to look at to make future predictions?

• What is happening with interest rates, and how will that affect the economy?

• How are the housing and auto markets affecting the auto repair industry, and what clues do we have from those industries that could give us information about the future?

• What should you be doing to ensure you are prepared for what 2023 brings?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

Thanks to our partners, NAPA TRACS and Promotive

Welcome to this episode of Business by the Numbers! Host Hunt Demarest, CPA, explores the recent IRS developments and what they mean for business owners, taxpayers, and accountants alike. With executive orders, funding cuts, and shifting policies, there's plenty to unpack about the future of the IRS and tax compliance.

Key Takeaways:

• IRS Funding Cuts: The Inflation Reduction Act promised $80 billion for the IRS, but political maneuvering and budget cuts have significantly reduced this allocation.
• Commissioner Resignation: The departure of the IRS commissioner raises questions about future agency direction and efficiency.
• Audit Frequency Impact: With fewer agents and reduced funding, audits for wealthy individuals and large corporations are likely to decrease.
• Taxpayer Challenges: Delayed refunds, processing slowdowns, and a backlog of cases could worsen due to IRS understaffing.
• Emerging Trends: Discussion on potential international tax changes and the possibility of an "External Revenue Service" impacting U.S. tax revenue collection.
• https://www.projectfinance.law/publications/2025/january/trump-executive-orders/
• https://waysandmeans.house.gov/2025/01/23/president-trumps-cease-and-desist-to-irs-protects-middle-class-families-and-small-businesses-from-irs-audits-and-weaponization/
• https://moneywise.com/a/ch-synd/irs-asks-for-more-funding_1737633682545

Thanks to our partners, NAPA TRACS and Promotive

Thanks to our partner, NAPA TRACS

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

Thanks to our partner, Promotive

It’s time to hire a superstar for your business; what a grind you have in front of you. 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: podcast@paarmelis.com

Download a Copy of My Books Here:

• Wrenches to Write-Offs
• Your Perfect Shop 

The Aftermarket Radio Network: https://aftermarketradionetwork.com/

Remarkable Results Radio Podcast with Carm Capriotto https://remarkableresults.biz/

Chris Cotton of Autofix Shop Coaching returns to share his journey from coaching to becoming a shop owner at Firestone of Durango. In this episode, Chris dives deep into the challenges of purchasing a shop, revamping it with new technology, and ensuring a seamless operation while being an absentee owner. Discover how he turned around a business and the valuable lessons he learned along the way.

• Chris shares his experience of buying and managing a shop while remaining a hands-off owner.
• The importance of employee retention during transitions.
• Key insights into increasing shop profitability through technology and operational efficiency.
• How to negotiate and finance a business purchase for maximum benefit.
• Why consistent customer communication is crucial for shop success.

Thanks to our partner, NAPA TRACS

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

Thanks to our partner, Promotive

It’s time to hire a superstar for your business; what a grind you have in front of you. 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: podcast@paarmelis.com

Download a Copy of My Books Here:

• Wrenches to Write-Offs
• Your Perfect Shop 

The Aftermarket Radio Network: https://aftermarketradionetwork.com/

Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion.

Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life.

Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest.

The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level.

The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto...

Are Techs Employees or Contractors?

This week Hunt discusses if there is a way that we can or should treat our techs as contractors.

• What is the difference between a contractor versus an employee and how does the IRS differentiate the two?
• Why would someone want to be a contractor, and how would that help our techs?
• What are some of the downsides of classifying our techs as contractors and the reasons why we do not see this much?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

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: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

This week, Jamie Hasty from Southeastern Employer Services Corporation (SESCO) joins Hunt to discuss HR and employment law topics for auto repair shop owners. Jamie provides expert advice on managing overtime, understanding exemptions, and maintaining compliance with labor laws. This conversation is essential for any auto repair business looking to safeguard against legal pitfalls and ensure proper payroll management. It includes:

• Important discussions on managing overtime and understanding exemptions.
• Practical advice on maintaining compliance with labor laws.
• Tips for auto repair shop owners to avoid legal issues and manage payroll effectively.
• https://sescomgt.com/

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.

Get in touch with Jamie Hasty: https://sescomgt.com/

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online: www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

Going Multi-Location! Part 3 of the crash course on going multi-location, Hunt discusses how to take this deal home, finance and set up the purchase price.

• What are the options for financing the deal and what is the most common?

• How should I set up this new location? A new entity or existing?

• How do I allocate the purchase price so that it gets you the most tax benefit?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here

This week Hunt discusses the influence of rising interest rates on shop owners' business expansion decisions.

• The recent decision by the FED regarding interest rates and the anticipated trajectory for the rest of the year.

• What kinds of shifts in the current market have taken place for buying and selling shops, and how will these changes affect business owners?

• Besides interest rates, what other pressing challenges do borrowers face in today's banking landscape?

• Taking all factors into account, does it still makes sense to consider purchasing a second location? What impact can this have on your decision-making process?

Thanks to our partners, NAPA TRACS and Promotive

Visit NAPATRACS.com and GoPromotive.com

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book : Download Here