Business By The Numbers

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.

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

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

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.

Flat Rate vs. Hourly: The Hidden Productivity Trap Killing Auto Shop Margins [E189]

Thu, 25 Sep 2025 00:15:00 -0400

Thanks to our partners Promotive and Wicked File

Auto shops aren’t going broke because they charge too little—they’re going broke because they’re measuring wrong. In this episode, CPA and host Hunt Demerest unpacks the gap between what your shop management system tells you and what your financials know to be true. From the hidden drag of switching techs from flat rate to hourly to the simple tweak that makes your software reflect real costs, Hunt shows you how to surface the problem (productivity vs. pricing) and correct course—before your margins get cut in half.

What you’ll learn:

02:20 – Expectation vs. reality: SMS shows 75% gross profit—but QuickBooks shows ~50%.
04:38 – The pivot that broke the math: moving techs from flat rate to hourly + production drop.
06:52 – Why unchecked hourly pay halves margins—and why it’s so hard to fix later.
09:12 – “Productivity” isn’t just techs: counter, invoicing, parts, layout, communication.
13:55 – Pricing sanity check: book time vs. your actual time; efficiency vs. productivity.
16:04 – The core software issue: SMS assumes techs are only paid when you’re paid.
18:23 – The fix: compare SMS “expected” labor cost to QuickBooks actuals and adjust: set a shop-wide uplift % or per-tech rates, include benefits, vacation, unpaid work, bonuses, aim to slightly overstate costs (~5%) so you’re pleasantly surprised at month-end.
32:16 – Wrap: Most shops have a productivity and pricing problem—use SMS truthing to see it sooner.

Key takeaways

Flat rate manages downside; hourly requires management. If hourly productivity slides from ~40 flagged hours to ~20, your margin vanishes.
Don’t let software mask reality. If SMS says 75% gross profit but financials show ~50%, trust the books and recalibrate SMS.
Blend the cure. You rarely fix a major productivity problem only with pricing—and you can’t price your way out of operational drag.
Make SMS reflect true cost. Start shop-wide: if SMS shows $10k labor cost but QuickBooks shows $12k, increase internal tech rates by +20% (then refine per-tech if needed).
Target “conservative accuracy.” Slightly overstating cost protects your bottom line morebthan rosy math ever will.

Thanks to our partner Promotive

Thanks to our Partner WickedFile

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:

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.

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

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

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.

Profit vs. Cashflow: Why Shops Go Broke While Making Money [E188]

Thu, 18 Sep 2025 00:15:00 -0400

Thanks to our partners Promotive and Wicked File

What happens when a shop owner calls to say they’re going broke—only to discover they’re actually profitable on paper? The truth is, profit doesn’t always equal cash flow. And without cash, even the healthiest shops can collapse.

In this episode of Business by the Numbers, Hunt Demarest, CPA of Paar Melis & Associates, tackles one of the most dangerous misconceptions in business: why shops fail even when they’re making money. From bootstrapping vs. borrowing to the hidden dangers of credit card advance loans, Hunt unpacks real-world lessons from a client whose debt service was drowning out his profits—and the lifeline that helped him turn it around.

If you’ve ever wondered why your bank account doesn’t match your P&L, this episode could be the wake-up call you need.

What You’ll Learn in This Episode

(00:00) Why profit doesn’t always mean cash—and why cash doesn’t always mean profit

(02:12) The #1 killer of small businesses: lack of cashflow

(06:44) Debt service vs. total debt: what really matters for survival

(08:59) Bootstrapping vs. borrowing: how to pick your strategy and stick to it

(11:19) Why cash reserves are more important than paying off all your debt

(13:59) When profit isn’t enough: how debt service can sink a shop

(15:56) The dangers of credit card advance loans—and why they trap so many shops

(18:12) How refinancing debt saved one shop owner from burning $3,000 every month

Thanks to our partner Promotive

Thanks to our Partner WickedFile

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:

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.

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

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

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.

Inside Wage and Hour Audits: What Every Shop Owner Must Know [E187]

Thu, 11 Sep 2025 00:15:00 -0400

Thanks to our partners Promotive and Wicked File

What would happen if your shop—or any business—was hit with a wage and hour audit tomorrow?

The answer might shock you. For many owners, even those with the best intentions, missteps in overtime, classification, or documentation could result in penalties large enough to shut doors permanently.

In this episode of Business by the Numbers, Hunt Demarest sits down with Jamie Hasty, Vice President of SESCO Management Consultants and a leading authority in employment regulation compliance. Jamie brings more than two decades of experience helping businesses navigate the complexities of wage and hour law, overtime requirements, employee handbooks, and Department of Labor audits.

From California lunch breaks to discretionary bonuses, Jamie breaks down the most common pitfalls, why “intent” won’t save you in court, and the proactive steps every business owner should take before regulators—or lawyers—come knocking.

What You’ll Learn in This Episode:

(01:38) Why overtime rules haven’t changed as much as the headlines suggest
(03:46) The #1 financial liability most business owners overlook
(08:57) How misclassifying employees—even accidentally—can cost millions
(13:37) The difference between discretionary vs. non-discretionary bonuses
(23:02) Why accurate timecards are your best legal defense
(34:49) How to avoid the hidden dangers of generic employee handbooks

If you’re a shop owner—or any employer—this conversation could be the wake-up call that saves your business.

Resources:

Connect with Jamie Hasty and SESCO Management Consultants: sescomgt.com jamie@sescomgt.com

Thanks to our partner Promotive

Thanks to our Partner WickedFile

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:

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.

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

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

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.

Profit Problems? Why Reviewing Your Financials Wrong Could Cost You Thousands [E186]

Thu, 04 Sep 2025 00:15:00 -0400

Thanks to our partners Promotive and Wicked File

Welcome to another episode of Business by the Numbers with Hunt Demerast, CPA at Parmelis & Associates. This week, Hunt digs into a deceptively simple question every shop owner should be asking: when and how should you look at your financials?

Too often, business owners flip through their QuickBooks file or shop management system without clarity on what they’re really trying to uncover. Hunt breaks down the process like a scientist testing a theory: identify the problem, brainstorm possible fixes, implement solutions, and then analyze results.

From chasing profitability to tackling parts gross profit, Hunt explains how daily, weekly, and monthly reviews tell different stories about your business. Along the way, he shares why financials are trailing indicators, how leading metrics like productivity or parts pricing play a bigger role than many realize, and why “set it and forget it” rarely works when it comes to profitability.

You’ll also hear:

(03:07) Why the frequency of financial reviews should match the problem you’re solving
(05:55) How to use the scientific method to test business decisions
(10:53) A real-world example of fixing low parts gross profit margins
(17:53) The danger of only reviewing numbers once a year
(19:47) Why your assumptions must be tested against reality—and how to course-correct

Whether you’re chasing higher margins, fighting to stay profitable, or just trying to sleep at night knowing your numbers are right, this episode offers a roadmap to thinking about financials with purpose instead of panic.

Stay safe out there—and remember, your financials are only as valuable as the questions you ask of them.

Thanks to our partner Promotive

Thanks to our Partner WickedFile

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:

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.

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

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

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.

Is Your Shop Management System Lying to You? [E185]

Thu, 28 Aug 2025 00:15:00 -0400

Thanks to our partner Promotive

Most shop owners assume their shop management system and QuickBooks are telling the same financial story. But what happens when they don’t? In this episode, Hunt DeMarest unpacks the pitfalls of running “two sets of books”—and the costly mistakes that come when your systems are out of sync.

Hunt shares a jaw-dropping client story that began with a routine inventory review and ended with a shocking discovery: a shop management system reporting negative $500,000 in inventory. From overstated parts costs to phantom accounts receivable, Hunt reveals how these discrepancies creep in, why 90% accuracy is actually dangerous, and how to rip off the band-aid and fix the problem once and for all.

Listeners will walk away with actionable steps to safeguard their financials, from cleaning up accounts receivable to leveraging payment types and analyzing category profit summaries. Because when your numbers align, you’re not just protecting your margins—you’re protecting your business.

What You’ll Learn in This Episode:

(06:12) The shocking case of a shop reporting negative half a million in inventory
(08:34) Why “90% accurate” numbers may cost you thousands in taxes
(14:23) The hidden cost of inaccurate tire and parts reporting
(18:03) How sloppy accounts receivable inflates your tax bill
(22:50) Smarter use of payment types and category profit summaries to spot real profit
(27:19) Why outdated canned jobs silently eat away at your margins

Getting your books right isn’t just accounting—it’s survival for your shop.

Thanks to our partner Promotive

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

Should My Spouse Own my Business Too? Should I Pay Them? [E184]

Thu, 21 Aug 2025 00:15:00 -0400

Thanks to our partner Promotive

Being married while owning a business isn’t just about love and partnership—it’s about liability, taxes, estate planning, and protecting your family’s future. In this episode of Business By The Numbers, Hunt Demarest, CPA with Paarmelis & Associates, pulls back the curtain on one of the most common yet misunderstood questions business owners face: should your spouse be on the business, the payroll, or the tax return?

From his own estate planning experience at 37 to the real-world pitfalls he’s seen in auto repair shops across the country, Hunt shares what every entrepreneur needs to know before signing their spouse onto ownership or payroll. This episode covers everything from joint tax filing risks to payroll tax traps—and even the little-known IRS relief provisions like innocent spouse and injured spouse rules.

What You’ll Learn:

(00:40) Estate planning and why spousal ownership matters

Why estate planning is crucial at any age (yes, even in your 30s).
The difference between assets and liabilities when transferring ownership.
Why lawyers and accountants often approach planning differently.
The hidden costs of joint ownership in businesses vs. brokerage accounts.

(05:56) Spouses, liability, and your business

Why putting your spouse on the business could expose them to payroll and sales tax liability.
The dangers of “splitting ownership” just to be fair.
Why estate tax benefits often don’t outweigh liability risks.
A real-world example of how the IRS can pursue both spouses if one is on the books.

(12:00) Innocent spouse vs. injured spouse: IRS relief explained

The difference between innocent spouse relief and injured spouse relief.
When each applies—and why you hope you’ll never need them.
Why filing separately almost never makes sense (and when it might).

(16:18) Payroll, joint filing, and the “nuclear option”

Why paying your spouse rarely saves taxes—and can cost thousands in payroll tax.
When it does make sense to put your spouse on payroll (hint: retirement accounts, health insurance).
Why joint filing almost always beats separate returns.
The rare scenarios where keeping your spouse off the business can protect your family

Hunt wraps up with a reminder: marriage and business both require careful planning. Talk to your spouse, your lawyer, and your accountant before making big ownership or payroll decisions—because the wrong choice could cost far more than you think.

Thanks to our partner Promotive

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

Private Equity in Auto Repair: Threat or Opportunity for Your Shop? [E183]

Thu, 14 Aug 2025 00:15:00 -0400

Thanks to our partner Promotive

The mega-money players have arrived—and they’re changing the game for independent auto repair shops.

Private equity is buying up some of the best shops in the country, often paying prices that make long-time owners’ jaws drop. But what does this mean for you—the shop owner still running your business day-to-day? Should you be worried, or is there a hidden opportunity in all this change?

In this episode of Business by the Numbers, Hunt Demerast, CPA at Paar Melis & Associates, breaks down what private equity really is, why they’re suddenly so interested in auto repair, and the strategies they use to buy, scale, and sell. You’ll learn not just how they operate—but what independent shop owners can borrow from their playbook to boost profitability and stay competitive.

What You’ll Learn:

(02:51) Why this episode isn’t about “how to sell”—and what it is about

(03:27) The number one rule when approached by private equity (and why going it alone is risky)

(04:42) How other industries—collision, HVAC, dealerships—have already been through this wave of consolidation

(08:57) The big labor rate advantage collision shops have, and why private equity thinks it can apply to repair shops

(11:16) The mindset difference: why private equity is only about profitable work

(13:50) Strength in numbers: why 80 small shops are worth far more together than apart

(16:10) How tire sales and bulk purchasing make their numbers work

(17:57) The lessons independent shops can steal from private equity’s approach

(20:15) The choice: build for community or build for maximum money

(22:27) Why a private equity buyout might actually make your life easier

(24:37) The two possible futures for private equity in auto repair—and which is more likely

If you’ve been curious, concerned, or just plain baffled by the rise of private equity in the auto repair world, this episode gives you the insider view—and the tools to prepare for what’s next.

Thanks to our partner Promotive

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

The ROI Wake-Up Call: Why Most Auto Shops Are Measuring It All Wrong [E182]

Thu, 07 Aug 2025 00:15:00 -0400

Thanks to our partner Promotive

Still judging your advertising budget by a percent of sales? Thinking of buying an alignment rack or even an entire shop? What about paying down that 2.75% mortgage? Hunt is here to challenge your assumptions and break down how ROI—Return on Investment—should guide every major decision you make.

In this week’s episode, Hunt pulls back the curtain on the real math behind smart business moves and how most shop owners are getting it wrong by focusing on emotion over numbers. Whether it’s marketing spend, new equipment, or business expansion, he explains how to look at your return like an investor—not just a technician with a calculator.

What You’ll Learn:

Understanding ROI Beyond the Buzzword

(01:16) Why ROI is more than just an acronym—it’s your business’s compass

(03:42) What advertising, buying equipment, and paying debt all have in common

(06:05) Why emotion-based decisions are costing you real money

Advertising ROI: The Most Misunderstood Metric

(06:55) The #1 mistake shops make when evaluating ad spend

(08:15) Why 3–6% of sales is a misleading metric

(10:37) Why gross profit—not sales—is the number that matters

(13:02) What a 100% ROI looks like—and why you might be underspending

Buying Equipment: A Smarter Way to Evaluate Big Purchases

(16:16) The alignment rack ROI breakdown every shop owner should run

(17:56) How many alignments you need to break even (and why it’s not enough)

(20:23) When optimism becomes a liability in ROI math

(22:11) What to do when the ROI is at 0%

Buying or Selling a Shop: The ROI Lens That Reveals Everything

(23:26) Why auto repair shops are sold based on profit—not top-line sales

(24:02) Two shops, same price—one makes 3X more: which would you buy?

(26:13) How bad ROI ruins family buyouts (and what to do instead)

Paying Off Debt: When It’s Smart—and When It’s Not

(29:41) Why paying off your credit card could earn you 24% overnight

(31:49) The 2.75% mortgage myth—when being debt-free costs you more

(34:07) Why cash beats being debt-free (almost) every time

(35:26) The lease payoff trap no one warns you about

Thanks to our partner Promotive

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

ROI - Return on Investment [E181]

Thu, 31 Jul 2025 00:15:00 -0400

Thanks to our partner Promotive

Whether you're thinking of buying your first auto repair shop, selling your third, or investing in new equipment, understanding return on investment (ROI) is essential—not just in theory, but in real-life dollars and decisions. In this episode of Business by the Numbers, Hunt Demarest, CPA at Paar Melis & Associates, breaks down ROI in plain English, with examples shop owners can actually use.

What’s the difference between a 33% ROI and a 100% cash-on-cash return? Why are private equity firms offering double what a local buyer would? And how should your time—yes, your actual hours—factor into every decision?

Hunt doesn’t just explain ROI. He exposes how it shows up in equipment purchases, business sales, and shop valuations—and how emotional decisions can cloud even the smartest investments.

What You’ll Learn:

Understanding ROI Beyond the Buzzword

(01:52) Why ROI isn't just for Wall Street (hint: you're already using it!)

(03:55) The $1,000 tool test: You know ROI even if you think you don’t

(05:26) Why sellers think in multiples, but buyers think in ROI

ROI and Shop Sales: The Buyer vs. Seller Mindset

(07:45) How a seller gets $1M, while a buyer only invests $100K

(09:28) Why time and risk are everything when evaluating a shop

(12:22) The $100K offer scenario: Would you take it?

Active vs. Passive Investments: Where Shops Fit In

(22:04) Why a 33% ROI isn’t the whole story

(23:18) Cash-on-cash return: the real reason repair shops can be goldmines

(25:44) So why isn’t everyone opening a shop? (Spoiler: It’s not easy money)

The Private Equity Curveball

(27:42) What PE firms know about ROI that most shop owners overlook

(30:06) Why PE firms will pay double and still make a profit

(33:07) When 18% ROI beats 33%: The power of passive ownership

ROI isn't just a number—it's a decision-making framework. Whether you're a buyer, a seller, or someone trying to decide if that new alignment rack is worth the splurge, Hunt gives you the tools to take emotion out of the equation and make smarter financial calls.

Thanks to our partner Promotive

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

Mailbox: Write-Off for Weight Loss Drugs, Gambling Winnings, and Employee Handbooks [E180

Thu, 24 Jul 2025 00:15:00 -0400

Thanks to our partner Promotive

This week, Hunt Demerast, CPA, dives into three hot-button business questions—each with surprising consequences for your bottom line. From covering weight loss meds for your employees to falling into the payroll HR trap, and even how the IRS is tightening the screws on your gambling losses—this episode breaks it all down, minus the legalese.

What You’ll Learn:

(00:00:00) Introduction

(01:02) Can you write off weight loss drugs like Ozempic for your employees—or yourself?

(03:19) The truth about MERPs, HRAs, and what ChatGPT got right and wrong

(07:09) The real IRS rule that trips up most owners (hint: it's about fairness)

(11:28) Gambling tax rule changes that could cost you—even if you lose

(16:04) What triggers a W2-G, and how scratch-offs could land you a surprise tax bill

(23:30) Why HR modules from payroll companies are often a waste of money

(25:50) A real-life story that cost Hunt money—and why handbooks matter

(29:52) What every business owner should review in their employee handbook

Why It Matters: If you’re a shop owner or small business operator trying to make smart decisions on health benefits, tax deductions, and HR compliance, this episode is a must-listen. Hunt pulls back the curtain on commonly misunderstood write-offs, state labor laws, and how small mistakes can lead to big headaches.

Thanks to our partner Promotive

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

Tax Changes: How to Maximize the Changes in Your Shop [E179]

Thu, 17 Jul 2025 00:15:00 -0400

Thanks to our partner Promotive

This week on Business by the Numbers, Hunt Demerast, CPA at Paar Melis & Associates, returns to break down what the new “Big Beautiful Bill” really means for shop owners and employees. From tax-free overtime myths to what counts as a "qualified" tip, Hunt pulls back the curtain on the IRS's latest updates and what they actually mean for your bottom line.

He also dives into one surprising tax change that nobody’s talking about—yet could massively simplify your year-end planning.

What You’ll Learn in This Episode:

(03:33) The truth behind tax-free tips—are auto shops even eligible?

(14:38) The real winners in the new overtime tax break (and why it’s not shop owners)

(21:02) What “qualified overtime” really means (and why USA Today got it wrong)

(25:46) A realistic tax savings example for your team

(29:25) Why pass-through entity taxes may disappear—and what to do before they do

Takeaway: Don’t rush to change your pay structure just yet. Hunt explains why "hurry up and wait" is your smartest strategy for now.

Thanks to our partner Promotive

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

The Big Beautiful Bill: What These Tax Changes Mean to You and Your Business [E178]

Thu, 10 Jul 2025 00:15:00 -0400

Thanks to our partner Promotive

A 900-page monster of a law just dropped—and it’s about to change how you pay taxes, deduct expenses, and run payroll at your repair shop.

This week, Hunt Demerast, CPA at Paar Melis & Associates, breaks down the One Big Beautiful Bill Act (OBBA) and how its sweeping tax reforms affect your shop, your employees, and your personal finances. You’ll hear what stayed the same, what changed unexpectedly, and what you need to keep an eye on before making any big moves.

From bonus depreciation to SALT deduction caps, tips and overtime loopholes to gambling losses—yep, that's in there too—this episode simplifies the complex and sets you up for strategic tax savings.

What You’ll Learn:

00:34 – Why the “Big Beautiful Bill” is no joke

02:24 – What’s not in the bill: no politics, just business

04:45 – Child Tax Credit: what stays the same and why it matters

07:03 – QBI deduction: still 20%, but what it means for your bottom line

09:27 – Bonus Depreciation: the biggest unspoken impact

11:12 – SALT Cap raised to $40k: huge win for high-tax states

16:55 – 3 campaign promises that actually passed

17:10 – No tax on Social Security? Yes…and no

19:34 – Tips & Overtime: $25k income deduction per category

24:08 – Gambling losses capped at 90%: a hidden tax hike?

26:22 – Are meals finally off the table?

28:11 – Trump Accounts: the “non-IRA IRA” for your kids

30:31 – Car loan interest deduction—boon or trap?

33:24 – Qualified Production Property: a sleeper hit for shop owners?

35:45 – What you should (and shouldn’t) do now

Thanks to our partner Promotive

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

2025 Benchmark Report Part 3 [E177]

Thu, 03 Jul 2025 00:15:00 -0400

Thanks to our partner Promotive

In this final episode of our Benchmark Report series, Hunt Demarest, CPA with Paar Melis and Associates, uncovers what truly separates the top shops from the rest—productivity, profit margins, and owner involvement.

Key takeaways:

Top-performing shops average 55%+ productivity, while bottom-tier shops hover around 41%.
That 15-point gap translates to $13,000 more sales per technician and $12,000 more sales per bay monthly.
Top shops also average $800 per repair order, compared to $575 for the bottom tier.
Their labor gross profit margin is roughly 70% vs. 50% for lower performers.
Productivity isn’t just tech speed—it’s team, processes, bay usage, and daily consistency.
Download your free 2024 Automotive Industry Benchmark Report: https://info.paarmelis.com/2024-automotive-industry-benchmark-report
2025 Benchmark Report Part 1: Biggest Changes, Key KPI's and Trends [E175]: https://huntdemarest.captivate.fm/episode/2025-benchmark-report-biggest-changes-key-kpis-and-trends-e175
2025 Benchmark Report Part 2 [E176]: https://huntdemarest.captivate.fm/episode/2025-benchmark-part-2-e176

Thanks to our partner Promotive

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

2025 Benchmark Report Part 2 [E176]

Thu, 26 Jun 2025 00:15:00 -0400

Thanks to our partner Promotive

In this second part of our 2025 Benchmark series, Hunt Demarest, CPA, with Paar Melis and Associates, breaks down performance trends by region, shop size, and shop type, using real-world data from auto repair businesses across the U.S.

Key points:

Regional profit trends with the West leading and the Southeast lagging
Why higher productivity—not labor rate—drives better profits
How overhead impacts small versus large shops
Shop type breakdown: general repair, diesel, and European
How to use benchmarks effectively without overanalyzing
Download your free 2024 Automotive Industry Benchmark Report: https://info.paarmelis.com/2024-automotive-industry-benchmark-report
2025 Benchmark Report Part 1: Biggest Changes, Key KPI's and Trends [E175]: https://huntdemarest.captivate.fm/episode/2025-benchmark-report-biggest-changes-key-kpis-and-trends-e175

Thanks to our partner Promotive

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

2025 Benchmark Report Part 1: Biggest Changes, Key KPI's and Trends [E175]

Thu, 19 Jun 2025 00:15:00 -0400

Thanks to our partner Promotive

Welcome to Part 1 of our annual Benchmark Report—hosted by Hunt Demarest, CPA, from Paar Melis & Associates. We dig into real financial data from hundreds of auto repair shops across the U.S., based on actual bookkeeping, not surveys.

Download your free 2024 Automotive Industry Benchmark Report: https://info.paarmelis.com/2024-automotive-industry-benchmark-report

Key Takeaways:

Average monthly sales dropped from $149K (2023) to $123K (2024), but sales per advisor, technician, and bay remained steady.
Gross profit % increased (from 51 % → 52 %), and overall expenses dropped (35 % → 33 %), boosting shop profitability.
Advertising spend fell (3 % → 2 % of sales): shops that advertise less might be missing opportunities.
Productivity plunged (57 % → 47.6 %)—likely due to fixed staff levels & fewer cars in 2024.
Context matters: metrics like average repair order, car count, and productivity are interconnected—local benchmarks offer more accurate insight.

Thanks to our partner Promotive

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

When and How to Plan (and Minimize) Your Taxes [E174]

Thu, 12 Jun 2025 00:15:00 -0400

Thanks to our partner Promotive

Planning for taxes shouldn’t feel like rolling the dice. In this episode of Business by the Numbers, Hunt walks through how smart shop owners use real data, not hope, to forecast and manage their tax obligations all year long.

Why Q2 and Q3 are the real moneymakers for accurate tax forecasting
When it actually makes sense to buy that truck for the write-off
How and when to adjust your tax estimates (and why it matters)
The truth about retirement contributions as a tax strategy
Common mistakes shop owners make by skipping tax planning

Thanks to our partner Promotive

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

Should I Create a New Entity For That? [E173]

Thu, 05 Jun 2025 00:15:00 -0400

Thanks to our partner Promotive

Expanding your auto repair business is an exciting venture, but it brings forth critical decisions, especially regarding entity formation. In this episode of Business by the Numbers, Hunt Demarest, CPA at Paar Melis and Associates, delves into the complexities of creating a new entity for your business expansion.

Key Topics Covered:

Ownership Implications: Understanding how different ownership structures affect your decision to form a new entity.
Legal Considerations: Evaluating the legal protections and liabilities associated with separate entities.
Tax Implications: Analyzing the tax benefits or drawbacks of establishing a new entity.
Operational Costs: Assessing the administrative and financial costs involved in managing multiple entities.
Strategic Decision Making: Guidance on making informed choices tailored to your business's unique circumstances.

Thanks to our partner Promotive

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

Mailbox: Warranty Work and Ownership with Spouses and Divorce [E172]

Thu, 29 May 2025 00:15:00 -0400

Thanks to our partner Promotive

In this episode of Business by the Numbers, Hunt Demarest answers three key listener questions that auto repair shop owners face all too often. From handling warranty job accounting to navigating the financial fallout of divorce, Hunt gives practical, no-nonsense advice.

In this episode, you'll learn:

The right way to book internal and partial warranty work in QuickBooks
Whether adding your spouse to the business makes sense financially
Why 8(a) certifications usually don’t help auto repair shops
How divorce and child support can affect your business valuation and cash flow
Real-life examples and actionable advice from 15+ years of experience

Thanks to our partner Promotive

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

Is My Labor Rate Too Low? [E171]

Thu, 22 May 2025 00:15:00 -0400

Thanks to our partner Promotive

Are you charging enough for labor at your shop? In this week’s Business by the Numbers, Hunt Demarest of Paar Melis and Associates tackles one of the most misunderstood metrics in autorepair profitability—your labor rate. Spoiler alert: it’s not always about charging more.

This week, you'll learn:

Why labor rate isn't the ultimate driver of shop profit
The difference between your door rate and effective labor rate
What real benchmarking data says about high vs. low labor rates
The one metric that actually correlates with profitability
How technician productivity impacts your labor cost and bottom line
The market analysis trap shop owners fall into (and how to avoid it)
Effective Labor Rate Episode [E128]: https://huntdemarest.captivate.fm/episode/128

Thanks to our partner, Promotive

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

Earn Your CSP (Certified Speaking Professional) With Jimmy Lea [E043] - Speak Up! Effective Communication

Mon, 19 May 2025 00:15:00 -0400

Thank You To Our Partners The Institute, AutoFlow, AutoLeap, Shop Dog Marketing, In-Bound

Watch Full Video Episode

In our Episode Today:

Our host Craig O’Neill welcomes friend and newly minted Certified Speaking Professional - Jimmy Lea to talk about his journey!

The NSA Certified Speaking Professional (CSP) designation is a notable achievement that involves many phases of approval. This is a hard earned achievement, which to our knowledge, has never been attained by an individual within the aftermarket before now!

You can check out the details of the process here: https://nsaspeaker.org/wp-content/uploads/2024/09/Guide_How-to-Earn-the-CSP_Class-of-2025.Final_.pdf

Jimmy is a well known and respected speaker in our industry and he has been a lifelong communication enthusiast. Since Craig and Jimmy have been friends for many years, and you’ll hear in this episode some reflection of the impressions Craig has had of Jimmy in his early days and many thoughtful questions regarding the process of earning and value of a speaking credential.

While our topic focuses a great deal on the CSP process - you’ll begin to see how a focus on a skill looks for a true professional and learn some valuable insights into the ‘why’ behind any certification.

Topics include:

Documenting your journey
Gaining endorsements
The value of capturing recordings
Video submissions Do’s/Dont’s
Mentoring
Accepting Failure and Feedback
How those with a designate safeguard the integrity of the designation
Re-application and success!

The conclusion of this episode will give our listeners some food-for-thought on the value of credentialing in our industry, which has a tenuous relationship with the topic. Do you need a certification to be a speaker? Not at all. However, certifications DO tell an audience (as they do with a visitor of a repair facility) something about the people they are meeting with.

The Word of the Day:

Effusive

adjective

Expressing feelings of gratitude, pleasure, or approval in an unrestrained or heartfelt manner.

Thank You To Our Partners The Institute, AutoFlow, AutoLeap, Shop Dog Marketing, In-Bound:

The Institute at WeAreTheInstitute.com. "Stop stressing over your business, you deserve a good night's sleep. The Institute’s coaching helps you achieve success and financial peace.

AutoFlow at AutoFlow.com. Your partner in technology, Autoflow consolidates your client interactions - before, during and after the visit to a single thread. Learn more at Autoflow.com

AutoLeap at AutoLeap.com. Are you tired of juggling multiple tools to manage your auto repair shop? Say hello to the streamlined efficiency of AutoLeap, the #1 all-in-one Auto Repair Shop Management Software!

Shop Dog Marketing at Shop Dog Marketing.com. "Want to see your auto repair shop thrive? Let Shop Dog Marketing be your guide. Our customer-first approach, combined with AI-driven creative content, ensures top rankings.

In-Bound at CallInBound.com. Cover your communication needs and revolutionize your auto repair business with AI-driven call analytics from InBound.

Contact Information

Email Craig O'Neill: speakup@craigoneill.net
Join Our Virtual Toastmasters Club: https://remarkableresults.biz/toastmasters

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/

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. https://autorepairmarketing.captivate.fm/

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

The Largest Tax Cut in US History? [E170]

Thu, 15 May 2025 00:15:00 -0400

Thanks to our partner Promotive

In this episode of Business by the Numbers, Hunt Demarest, CPA of Paar Melis and Associates, explores the details behind what former President Trump is calling the "largest tax cut in U.S. history." What’s actually in the proposed bill? Will any of it pass Congress? And most importantly, what could it mean for auto repair shop owners and other small business operators?

Hunt unpacks what we know so far, what’s still uncertain, and how business owners can start thinking strategically. From potential expansions of the Child Tax Credit and QBI deduction to the controversial proposals of eliminating taxes on tips, overtime, and Social Security, this episode covers the key elements that matter most.

Whether you’re looking to stay informed or proactively plan for future changes, this episode offers a grounded look at what’s on the table—and what’s likely to be left off.

Key Takeaways:

What’s included in the proposed 2025 tax cut and what’s still up for debate
The current status of the Child Tax Credit, QBI deduction, bonus depreciation, and SALT deduction cap
Potential elimination of taxes on Social Security income—and whether that’s realistic
A breakdown of the proposed “Millionaire Tax” and its implications for high earners
Why the talk of tax-free tips and overtime could create major planning opportunities for business owners

What shop owners need to watch for and how to prepare as legislative discussions continue

Thanks to our partner, Promotive

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

Credit Card Processing Fees [E169]

Thu, 08 May 2025 00:15:00 -0400

Thanks to our partner Promotive

Credit card fees are eating into shop owners' profits — but should you be passing those costs onto customers? In this episode of Business By The Numbers, Hunt revisits the hot-button topic and shares what’s changed since 2021.

Key Points:

Why more shops are experimenting with credit card surcharges today
Real-world results from shops that do charge fees — and those that don’t
The hidden dangers of incentivizing cash payments
How pricing strategy impacts customer loyalty and shop profitability
Hunt’s no-BS recommendation for handling credit card costs in 2025

Thanks to our partner, Promotive

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

Just Call Your Clients! With Hunt Demarest [E041] - Speak Up! Effective Communication

Mon, 05 May 2025 00:15:00 -0400

Thank You To Our Partners The Institute, AutoFlow, AutoLeap, Shop Dog Marketing, In-Bound

Watch Full Video Episode

In our episode today, we welcome guest Hunt Demarest, CPA ABV.

Hunt is the host of Business by the Numbers and, as our host Craig O’Neill will tell you… Hunt uses words really well for a numbers man!

This episode came to be after Craig found himself on a walk and listening to one of Hunts recent episodes, Episode 163 - Where are my customers? It’s a great episode on getting to the root of what the numbers are actually telling you - and guess what - it involves actually picking up the phone and talking to people!

Hunt’s episode played right after Craig had listened to an episode on a health/wellness program which spoke on a similar topic… going straight to the source of information!

Often times we can get caught up in the minutia of details and analysis.

If we are not careful - it can lead to assumptions and wrong conclusions.

As Hunt says, “Numbers do not lie, but they do not tell the whole story.”

Getting the whole story inevitably involves communication - and it isn’t always comfortable for people to pick up a phone to get it.

While the takeaway for today’s episode is in the title, it expands as you listen to Hunt and Craig explore a range of topics from talking to clients, employees, and even family.

Today’s WOTD is Gumption

noun

the ability to make intelligent decisions especially in everyday matters

Learn more about Hunt Demarest here:

https://paarmelis.com/business-by-the-numbers/

Look for his book here: https://a.co/d/hAf0cDF

Thank You To Our Partners The Institute, AutoFlow, AutoLeap, Shop Dog Marketing, In-Bound:

The Institute at WeAreTheInstitute.com. "Stop stressing over your business, you deserve a good night's sleep. The Institute’s coaching helps you achieve success and financial peace.

AutoFlow at AutoFlow.com. Your partner in technology, Autoflow consolidates your client interactions - before, during and after the visit to a single thread. Learn more at Autoflow.com

In-Bound at CallInBound.com. Cover your communication needs and revolutionize your auto repair business with AI-driven call analytics from InBound.

Contact Information

Email Craig O'Neill: speakup@craigoneill.net
Join Our Virtual Toastmasters Club: https://remarkableresults.biz/toastmasters

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/

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. https://autorepairmarketing.captivate.fm/

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

Don't Mess With Sales Tax! [E168]

Thu, 01 May 2025 00:15:00 -0400

Thanks to our partners, NAPA TRACS and Promotive

In this week's episode of Business by the Numbers, Hunt Demarest, CPA at Paar Melis & Associates, tells a jaw-dropping real-world story: how one automotive repair shop owner — and his wife — ended up spending days in jail over mishandled sales tax payments.

If you're an auto repair shop owner, this episode is a must-listen. Sales tax isn’t income tax — it’s trust money you're collecting on behalf of the government, and states take it very personally when they don’t get paid.

In this episode, you’ll learn:

Why sales tax is treated more seriously than income tax by state and local governments
How a small sales tax problem snowballed into jail time, a locked shop, and frozen bank accounts
What mistakes automotive shop owners make that trigger sales tax audits
The one mistake you can’t afford to make after you get behind
Simple steps to protect your business, your reputation — and your freedom

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

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

Tax Season Recap and Tips [E167]

Thu, 24 Apr 2025 00:15:00 -0400

Thanks to our partners, NAPA TRACS and Promotive

April 15th is behind us — but your tax strategy shouldn’t stop there. In this episode, Hunt Demarest, CPA at Paar Melis, shares exactly what auto repair shop owners need to be doing based on how their tax season wrapped up. Whether you filed early, waited until the last minute, or punted with an extension, Hunt helps you take the right steps now to avoid penalties, reduce next year’s bill, and keep your shop’s finances dialed in.

In this episode, you’ll learn:

Why filing an extension isn’t always a problem — but failing to plan ahead is
The costly myth about tax extensions that trips up even seasoned shop owners
What to do now if you owed a big tax bill or got a refund
The IRS’s rules on estimated taxes and why ignoring them leads to penalties
Smart financial habits every shop owner should adopt after tax season ends

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

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

Tariffs: Higher Prices, Higher Profits? [166]

Thu, 17 Apr 2025 00:15:00 -0400

Thanks to our partners, NAPA TRACS and Promotive

Tariffs might sound like a foreign concept—until they hit home. In this episode of Business by the Numbers, Hunt breaks down the real-world impact tariffs can have on your auto repair shop, using a powerful shop-vs-shop analogy to explain rising costs, disappearing jobs, and economic ripple effects. Whether you're in the weeds of part pricing or just trying to make sense of the news, this episode gives you the context you need.

Here’s what you’ll learn in this episode:

Why tariffs are making headlines—and how they could impact part costs in your shop
What the “free market” really looks like when safety and environmental regulations aren’t equal
The economic chain reaction that can crush local businesses and communities
How tariffs influence pricing, profits, and technician availability in the long term
A breakdown of how the U.S. tax system evolved from tariffs to income taxes—and why that matters now

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

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

Finding Lost Money with Alex Saladna - WickedFile [E165]

Thu, 10 Apr 2025 00:15:00 -0400

Thanks to our partners, NAPA TRACS and Promotive

What if your auto repair shop is losing money every single day — and you don’t even know it? In this episode, Hunt sits down with Alex Saladna, CEO of Wicked File, to talk about the hidden financial leaks happening in shops just like yours and how AI is helping owners plug those holes fast. From missed parts and uncredited returns to unauthorized purchases, we dive deep into how real shop owners are using Wicked File to save thousands of dollars and hundreds of hours every month.

Whether you're a single-location shop or managing multiple rooftops, this episode shows you why "doing it manually" might be costing you way more than you think.

Alex Saladna, WickedFile

In this Episode, you'll learn:

How Alex's family-owned shop lost $180,000 in just 6 months — and what sparked the creation of Wicked File
The real financial leaks you're probably missing — and why statement reconciliation isn’t enough
Why even large, well-staffed shops fall behind on parts reconciliation
How AI-powered tools like Navigator help shop owners instantly spot problems and improve profitability
What one multi-shop owner did to increase net profit by 15% in just one month

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

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

How Much Do I Need to Retire? [E164]

Thu, 03 Apr 2025 00:15:00 -0400

Thanks to our partners, NAPA TRACS and Promotive

“Do I have enough to retire?”

It’s the question every business owner eventually asks—but most never answer. In this episode, Hunt breaks down why your retirement isn’t about hitting a number… it’s about building a life you don’t need to escape from.

What You'll Learn:

Why there’s no universal retirement number (and what to focus on instead)
The simple formula to estimate how much you really need
How Social Security, real estate, and your business really factor in
The danger of carrying debt into retirement
What the book Die With Zero teaches us about using our time and money wisely

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

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

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.

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.

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

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

Where Are My Customers? [E163]

Thu, 27 Mar 2025 00:15:00 -0400

Thanks to our partners, NAPA TRACS and Promotive

Is your shop struggling with fewer repair orders and dropping sales? It may not be about losing customers—your clients could just be driving less. In this episode of Business by the Numbers, Hunt Demarest, CPA, walks you through a real-life example of how customer driving behavior (and simple mileage tracking) revealed critical insights for a struggling $2M shop. Learn how to use your own data to better understand your customer base, track hidden metrics, and adjust your strategy—before your bottom line takes another hit.

In this episode:

Why fewer visits doesn’t always mean fewer customers
How to calculate mileage trends using your shop management system
The difference between customers and repair orders (hint: it matters)
How remote work and economic shifts impact car care habits
How to conduct a customer behavior audit—without creeping them out
Action steps to track spending per mile and make smarter business decisions

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

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

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.

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.

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

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

Stagflation: What is It? [E162]

Thu, 20 Mar 2025 00:15:00 -0400

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

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

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.

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.

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

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

Projections: Not Just a Bank Requirement [E161]

Thu, 13 Mar 2025 00:15:00 -0400

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

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

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.

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.

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

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

Market Update: BOI Reports, Interest Rates, and More [E160]

Thu, 06 Mar 2025 00:15:00 -0400

Thanks to our partners, NAPA TRACS and Promotive

This week on Business by the Numbers, Hunt Demarest, CPA with Paar Melis and Associates, breaks down the latest market news and legislative updates that directly impact auto repair shop owners. From the return of the BOI (Beneficial Ownership Information) report to evolving tax policy discussions and IRS processing delays, Hunt provides a no-nonsense analysis of what’s happening and how it could affect your business.

In This Episode, You'll Learn:

✔️ The BOI Report is back—what it is, why it matters, and the March 21st deadline you can’t ignore.

✔️ Trump’s tax proposals—what’s being discussed, what’s likely to pass, and what it means for your shop and your customers.

✔️ IRS struggles & refund delays—why tax processing is slower than ever and what to expect if you’re waiting on an Employee Retention Tax Credit (ERTC) refund.

✔️ Interest rates & the economy—why rates aren’t moving much (yet), and what this means for your financial strategy in 2025.

✔️ The state of small businesses & consumer spending—how last year’s trends impact this year’s outlook, and why customer financial health affects your shop’s profitability.

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

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

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.

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.

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

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

Can I Afford to Close on Saturdays? [E159]

Thu, 27 Feb 2025 00:15:00 -0400

Thanks to our partners, NAPA TRACS and Promotive

Closing your shop on Saturdays might sound like a risky move, but could it actually improve your business? In this episode of Business by the Numbers, Hunt Demarest, CPA, explores the real financial and operational impact of shutting down on Saturdays. Is it worth it? What factors should you consider before making the switch? Whether you're thinking about a 5-day workweek, reducing hours, or making strategic changes to your shop’s schedule, this episode is packed with insights to help you make an informed decision.

Key Topics Covered:

✅ Why auto repair shops are moving away from Saturday hours

✅ The financial impact of closing on Saturdays—and how to make up for lost sales

✅ How to determine if your shop can afford fewer workdays

✅ The role of employee preferences in business hours

✅ Attracting top talent by offering a 5-day workweek

✅ Strategies to transition customers from weekend scheduling

✅ Real-life case studies of shops that successfully cut their Saturday hours

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

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

Is My Shop Management Lying to Me? Fixing Tech Costs [E158]

Thu, 20 Feb 2025 00:15:00 -0400

Hunt examines technician cost management within automotive repair shops shop management systems. He explores the issue of inaccurately reported labor costs, which frequently misrepresent the true financial health of the business.

Hunt discusses the underlying reasons for this discrepancy, and how they calculate technician compensation. The episode talks to various methodologies that can be employed to rectify these inaccuracies, ensuring that shop owners possess a more precise understanding of their financial obligations.

The objective of this episode is to empower our listener with actionable insights that can lead to improved profitability and operational efficiency in their businesses.

Takeaways:

The podcast discusses the critical issue of accurately recording technician costs in shop management systems, which is often miscalculated, leading to significant profit discrepancies.
The episode emphasizes the importance of revising technician cost methods to reflect true expenses, thereby enhancing financial transparency and operational efficiency.
Listeners are urged to assess their current payroll structures and make necessary adjustments to ensure more precise financial forecasting.
Understanding the relationship between productivity and payroll costs is vital for maintaining profitability, with practical strategies provided to achieve this.

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

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

Am I An Overpaid Employee? [E157]

Thu, 13 Feb 2025 00:15:00 -0400

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

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

To Lease or Not to Lease: Buying Versus Leasing Decisions [E156]

Thu, 06 Feb 2025 00:15:00 -0400

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

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

Executive Orders - Taxes and IRS Updates [E155]

Thu, 30 Jan 2025 00:15:00 -0400

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

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

How To Trigger An Audit [E154]

Thu, 23 Jan 2025 00:15:00 -0400

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

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

Should I Use Profit First? [E153]

Thu, 16 Jan 2025 00:15:00 -0400

Thanks to our partners, NAPA TRACS and Promotive

Managing your cash flow can feel overwhelming, but the Profit First system offers a fresh approach to organizing your finances. In this episode of Business by the Numbers, Hunt Demarest, CPA, dives into the pros, cons, and practical applications of Profit First for auto repair shops. Whether you’re new to the system or looking to refine your cash management strategy, this episode is packed with actionable insights.

Key Takeaways:

What is Profit First? Learn the basic framework of allocating revenue into multiple bank accounts to better manage cash flow.
Benefits of Profit First: Understand how it can help you get a clear picture of your cash flow and improve financial decision-making.
Challenges to Watch For: Discover why overcomplicating allocations or starting with too many accounts can hinder success.
Practical Implementation: Hunt shares a simple three-account system tailored to auto repair --shops for effective cash management.
Expert Tips: Adapt the system to your business size and goals, and avoid common pitfalls that lead to failure.

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

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

Setting Goals for Success in 2025 [E152]

Thu, 09 Jan 2025 00:15:00 -0400

Thanks to our partners, NAPA TRACS and Promotive

Setting the right goals for your auto repair shop can make or break your business's success. In this episode of Business by the Numbers, Hunt breaks down the critical differences between sales goals and profit goals, and why efficiency is key. Learn actionable strategies to align your team's targets with your financial objectives for a successful 2025.

Why setting profit goals is more important than focusing on sales goals.
How to calculate labor and sales targets that align with your desired profit.
Strategies for increasing efficiency without overwhelming your team.
The importance of understanding your breakpoints in labor, facilities, and service advisors.
Actionable steps to create a growth plan tailored to your shop's specific needs.

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

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

Help! I Need Cash! [E151]

Thu, 02 Jan 2025 00:15:00 -0400

Thanks to our partners, NAPA TRACS and Promotive

Running low on cash? Before panic sets in, it’s time to get strategic. In this episode of Business by the Numbers, Hunt explores practical steps to manage cash flow challenges, cut expenses wisely, and secure financing without sinking your business. Learn what options are available and how to make informed decisions to keep your shop running smoothly.

Understand the root causes of cash flow issues to avoid repeating mistakes.
Learn why preserving cash strategically is more effective than slashing every expense.
Discover how to leverage credit lines, loans, and alternative financing options safely.
Avoid common pitfalls, like cutting critical expenses, that can worsen financial struggles.
Develop a plan to stabilize and grow your cash reserves for long-term 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

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:

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 and Brian Walker https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/

Maintaining Proper Reserves [E150]

Thu, 26 Dec 2024 00:15:00 -0400

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

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:

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/

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. https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching. https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size. https://craigoneill.captivate.fm/

The Handbook for Self-Rentals: Fair Market and Taxes [E149]

Thu, 19 Dec 2024 00:15:00 -0400

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

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:

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/

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. https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching. https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size. https://craigoneill.captivate.fm/

End of 2024 Update: Interest Rates, ERTC, BOI Reporting & More [E148]

Thu, 12 Dec 2024 00:15:00 -0400

Thanks to our partners, NAPA TRACS and Promotive

End-of-year chaos is here, and Hunt’s been busy diving into webinars, questions, and updates on some big topics like the BOI report, interest rates, and the infamous Employee Retention Tax Credit (ERTC). In this episode, Hunt breaks down what’s happening, what you need to know, and what you should (or shouldn’t) do before heading into 2024.

Here’s What You’ll Learn in This Episode:

BOI Report (Beneficial Ownership Information): This rule was meant to track down shady business practices, but now it’s tangled in legal challenges and paused—for now. Already filed? You’re good. Haven’t filed? You’ve got choices. Hunt explains the pros and cons of sitting tight or filing now.
Interest Rates and the Economy: Rates are dropping, but what does that actually mean? Hunt explains why “good news is bad news” for the economy and what’s expected for borrowing costs, CDs, and savings rates in 2024.
Key dates to watch for financial reports that could shake things up (spoiler alert: December 11th and 12th are big ones).
ERTC: Still Alive, but Barely: The IRS is drowning in a mountain of unprocessed claims—think years of delays.
What to do if you’re still waiting on your ERTC money and why you shouldn’t count your chickens (or your tax credit) just yet.
Learn more about how to fill out the BOI Report here: https://youtu.be/5pP1b_IzbSY

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

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:

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/

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. https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching. https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size. https://craigoneill.captivate.fm/

Forecasting: How To Set Goals for 2025 and Beyond [E147]

Thu, 05 Dec 2024 00:15:00 -0400

Thanks to our partners, NAPA TRACS and Promotive

Join Hunt Demarest, CPA from Paar Melis and Associates, as he dives into one of the most crucial aspects of financial planning for your business—forecasting for the year ahead. Whether you're setting your business goals or analyzing key performance metrics, Hunt provides actionable insights to help you simplify and strengthen your forecasting process.

In this episode, you’ll learn:

Why forecasting is essential for your business's growth and performance.
Simple steps to start forecasting—even if you’ve never done it before.
Tips on analyzing your current business performance to set realistic goals for 2025.
How to use key financial metrics to identify areas of focus and improvement.
Tools and methods to streamline your forecasting, from basic spreadsheets to advanced software.
Discover how forecasting can bridge the gap between where your business is and where you want it to be. Start making data-driven decisions that drive profitability and 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

Thanks to our partner, Promotive

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:

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/

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. https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching. https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size. https://craigoneill.captivate.fm/

The Basics of Accrual Accounting [E146]

Thu, 28 Nov 2024 00:15:00 -0400

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

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:

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/

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. https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching. https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size. https://craigoneill.captivate.fm/

How Much Can I Put in My Retirement? How Much Should I? [E145]

Thu, 21 Nov 2024 00:15:00 -0400

Thanks to our partners, NAPA TRACS and Promotive.

End-of-year tax planning is in full swing, and retirement accounts are a key piece of the puzzle. In this episode of Business by the Numbers, Hunt Demarest breaks down IRAs, Simple IRAs, and 401(k)s to help you understand how to maximize savings and minimize taxes. Get actionable tips and insights to make the most of your retirement planning before the year ends.

-The differences between Traditional IRAs, Roth IRAs, Simple IRAs, and 401(k)s.

-Tax-saving benefits of contributing to retirement accounts before the end of the year.

Insights into contribution limits for 2024 and strategies for funding accounts.

-Key considerations for business owners when choosing between retirement plans.

-Why starting small and consistent contributions outweigh one-time large deposits.

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

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:

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/

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. https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching. https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size. https://craigoneill.captivate.fm/

How Much Should I Pay Myself? [E144]

Thu, 14 Nov 2024 00:15:00 -0400

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

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:

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/

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. https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching. https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size. https://craigoneill.captivate.fm/

Legal Advice From a CPA [E143]

Thu, 07 Nov 2024 00:15:00 -0400

Thanks to our partner, NAPA TRACS

In this episode, Hunt Demarest, CPA of Paar Melis and Associates, explores legal advice that CPAs often encounter, even though it's traditionally outside of their scope. From his personal experience with a rental property in Baltimore, Hunt dives into the importance of structuring real estate and business assets for liability protection. Here’s what you'll learn:

Why CPAs sometimes need to give "legal advice" (and the inherent risks)
How an LLC can provide a layer of legal protection for real estate investments
Key steps to verify if your property is protected as intended
Practical advice on setting up single-member vs. multi-member LLCs
Common pitfalls when managing assets across multiple entities

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

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:

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/

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. https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching. https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size. https://craigoneill.captivate.fm/

Talking Shop with Chris Cotton [E142]

Thu, 31 Oct 2024 00:15:00 -0400

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

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:

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.

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

Can I Afford to Buy my Building? Should I Though? [E141]

Thu, 24 Oct 2024 00:15:00 -0400

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

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:

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.

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

How to Prepare for Disaster [E140]

Thu, 17 Oct 2024 00:15:00 -0400

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

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:

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.

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

How To Read and Analyze a Profit & Loss Statement [E139]

Thu, 10 Oct 2024 00:15:00 -0400

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

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:

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.

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

Talking Numbers with Chris Cotton [E138]

Thu, 03 Oct 2024 00:15:00 -0400

In this episode, Hunt Demarest, an experienced CPA specializing in the auto repair industry, sits down with Chris Cotton, a renowned auto repair shop coach and owner of Autofix Auto Shop Coaching. Together, they dive into the challenges and strategies of optimizing shop productivity and profitability.

They talk about:

The importance of labor hours per repair order (LHRO) and how it impacts a shop's profitability.
Why thorough vehicle inspections and accurate estimates are crucial for increasing average repair orders (ARO).
How modern shop management systems, help streamline operations and ensure healthy profit margins.
Chris Cotton's personal experience as a shop owner and coach, and how he uses his own shop as a "test case" to develop successful strategies.
Insights on whether and when to consider expanding your shop operations to multiple locations.

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

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:

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.

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

Comparing the 2024 Presidential Tax Plans [E137]

Thu, 26 Sep 2024 00:15:00 -0400

In this episode of Business by the Numbers, Hunt Demarest, CPA, breaks down the latest tax proposals from Kamala Harris and Donald Trump, helping business owners understand what changes could impact their bottom line. Whether it’s Harris’s $50,000 small business deduction or Trump’s overtime tax elimination, Hunt offers critical insights into what’s real, what’s likely, and what’s just campaign rhetoric.

Overview of Harris’s $50,000 small business deduction proposal.
Insight into Trump’s plan to remove taxes on overtime.
How these proposals could affect small business owners, especially in the auto repair industry.
The importance of understanding startup expenses and tax deductions.
The likelihood of these proposals passing into law andtheir real-world implications.

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

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:

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.

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

Key KPI: Productivity & Efficiency [E136]

Thu, 19 Sep 2024 00:15:00 -0400

In this episode of Business by the Numbers, host Hunt Demarest, CPA, dives into the critical role that productivity and efficiency play in the profitability of auto repair shops. Using real-world examples, Hunt explains the differences between these two metrics and how shop owners can leverage them to drive business success

Productivity vs. Efficiency: Learn the key differences between productivity (work produced) and efficiency (how well time is used) and why both matter for your shop’s performance.
Why Higher Efficiency Doesn’t Always Mean Higher Productivity: Discover why a 100% efficient technician may not always be productive and how to balance these metrics.
Flat-Rate vs. Hourly Pay: Hunt explains the pros and cons of each pay structure and how they impact technician performance and shop profitability.
Real-Life Example of Pay Impact: See how a shop owner improved profitability by hiring a higher-paid technician who produced more billable hours, leading to a dramatic increase in gross profit.
How to Measure Productivity in Your Shop: Practical tips on using your shop management software to track productivity and efficiency and optimize your team’s output.

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:

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.

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

2024 Benchmark Report Part 3: Labor Productivity, Flat Rate VS Hourly [E135]

Thu, 12 Sep 2024 00:15:00 -0400

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

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:

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.

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

2024 Benchmark Report Part 2: Profitability, Labor Rates, and Productivity Metrics [E134]

Thu, 05 Sep 2024 00:15:00 -0400

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

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:

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.

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

2024 Benchmark Report Part 1: Biggest Changes, Key KPI's and Trends [E133]

Thu, 29 Aug 2024 00:15:00 -0400

In this episode of "Business by the Numbers," Hunt Demarest, CPA, kicks off a three-part series breaking down the 2024 Automotive Industry benchmark report for auto repair shops across the country. This report gives a clear look at how shops are performing financially and operationally, helping owners see where they stand.

Key Points:

• Benchmark Report Basics: The episode starts by explaining a detailed report that covers sales, profits, and key metrics for different types of auto repair shops, including Euro and diesel shops in various regions.

• Sales and Tech Performance: The report shows average monthly sales per technician, highlighting how important it is to make sure your techs are productive and hitting industry standards.

• Profit Margins: Hunt dives into the differences in profit margins on labor and parts, showing how different types of shops (like general repair versus high-end) stack up in terms of profitability.

• Rising Costs: There’s a discussion on how rising costs, especially in labor and rent, are squeezing profits, and why keeping costs in check is crucial to staying in the black.

• Industry Trends: The episode also covers big industry trends, like the need to offer solid employee benefits to attract good workers, and the different ways shops are paying their staff.

• DOWNLOAD THE REPORT HERE: https://paarmelis.com/wp-content/uploads/2024/08/2024-PMA-Benchmark-Report.pdf

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

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:

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.

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

ERTC Update - Am I Going to Get Paid? [E132]

Thu, 22 Aug 2024 00:15:00 -0400

In this week's episode of Business by the Numbers, Hunt Demarest, CPA, dives into the latest updates on the Employee Retention Tax Credit (ERTC) from the IRS. This episode is a must-listen if you're unsure about your ERTC status or how it impacts your taxes.

Explore the IRS's recent announcements and what they mean for your ERTC claims.
Understand the different risk categories the IRS has assigned to ERTC applications.
Learn the tax implications if you’ve received ERTC funds but haven’t filed your taxes yet.
Get practical advice on what to do if you're still waiting for your ERTC money.

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. 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

Download a Copy of My Books Here:

Aftermarket Radio Network

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.

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.

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

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

When Should I Take Social Security? [E131]

Thu, 15 Aug 2024 00:15:00 -0400

In this episode of Business by the Numbers, we dive into the intricacies of Social Security and the critical decisions that can impact your retirement planning. Whether you're nearing retirement or planning ahead, understanding when to start collecting Social Security is vital for maximizing your benefits.

Key Points Discussed:

The importance of consulting a financial advisor when considering retirement options and Social Security.
How Social Security benefits are calculated based on your highest 35 years of earnings.
The implications of taking Social Security benefits early, at full retirement age, or at maximum retirement age.
Strategies for married couples, including how spousal benefits can influence your Social Security decisions.
Why waiting until full retirement age often makes financial sense, especially if you're still working.

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

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:

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.

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.

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

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

What is Going on with the Market & Rates? [E130]

Thu, 08 Aug 2024 00:15:00 -0400

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

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

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.

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

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

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

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 I Need a Financial Advisor? [E129]

Thu, 01 Aug 2024 00:15:00 -0400

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

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

Effective Labor Rate [E128]

Thu, 25 Jul 2024 00:15:00 -0400

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

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

Daily Weekly Monthly Yearly : When and What should I be Looking for on My Financials? [E127]

Thu, 18 Jul 2024 00:15:00 -0400

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

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

Rent or Buy: Can I Afford to be my Own Landlord? [E126]

Thu, 11 Jul 2024 00:15:00 -0400

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

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

Profit vs. Cash Flow: Common Issues & Solutions [E125]

Thu, 04 Jul 2024 00:15:00 -0400

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

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

https://www.tn.gov/revenue/2024franchisetax.html

Avoid These Money Mistakes! [RR 967] - Remarkable Results Radio Podcast

Fri, 28 Jun 2024 00:15:00 -0400

Thanks to our Partners, AAPEX, NAPA TRACS, and Automotive Management Network 'Business by the Numbers' Podcast host Hunt Demarest discusses common financial mistakes, emphasizing the importance of building long-term wealth through prudent financial management and investment. The conversation covers managing personal and business expenses, the impact of government programs, and the necessity of maintaining financial reserves. Hunt Demarest, CPA, Paar Melis and Associates, Hunt's previous episodes HERE Business by the Numbers Podcast

Show Notes

Watch Full Video Episode
The Brakes for Breasts initiative (00:00:01) https://www.brakesforbreasts.com/
Rich vs. Wealthy (00:03:09) The distinction between being rich and being wealthy and the financial habits of wealthy individuals.
Money Mistakes and Business Finances (00:04:55) Common money mistakes made by business owners and the importance of long-term wealth building.
Personal and Business Expenses (00:06:09) The impact of blending personal and business expenses and its effect on financial statements.
Year-End Financial Review (00:09:14) The importance of assessing business finances at the end of the year and avoiding unrealistic financial judgments.
Impact of Government Programs (00:10:33) The impact of government programs on business profitability and the potential consequences of misusing funds.
Business Trends and Demand (00:11:53) Analysis of business trends, demand, and the need for realistic profit expectations in the automotive industry.
Cash Flow Management and Reserves (00:13:59) The importance of cash flow management, emergency funds, and the role of credit lines in business financial planning.
AAPEX 2024 Registration (00:17:37) https://www.aapexshow.com/
NAPA TRACS Shop Management System (00:18:47) http://napatracs.com/
Labor Rate Tracker (00:19:53) http://LaborRateTracker.com
Managing Credit Lines (00:20:48) Discussion on managing credit lines, including the importance of using and managing credit effectively.
Cash Management and Financial Statements (00:21:49) Insights into managing physical cash, reconciling financial statements, and the importance of accountability.
Overspending and Budgeting (00:23:59) Discussion on avoiding overspending, budgeting investments, and making decisions based on return on investment.
Insurance and Protection (00:26:42) Importance of having the right insurance coverage and protecting assets and future liabilities.
Return on Sales and Advertising (00:27:46) Explaining the concept of return on sales and the importance of evaluating advertising spending based on return on investment.
Bookkeeping and Financial Timeliness (00:29:30) The impact of timely and accurate bookkeeping on business performance and decision-making.
Cash Flow and Long-Term Planning (00:34:53) Emphasizing the importance of cash flow, reserves, and long-term planning for business sustainability and retirement.
Joining a Networking Group (00:37:07) Encouragement to join a networking group and the value of continuous learning in the aftermarket industry.

Thanks to our Partners, AAPEX, NAPA TRACS, and Automotive Management Network Set your sights on Las Vegas in 2024. Mark your calendar now … November 5th-7th, 2024. AAPEX - Now more than ever. And don’t miss the next free AAPEX webinar. Register now at http://AAPEXSHOW.COM/WEBINAR NAPA TRACS will move your shop into the SMS fast lane with onsite training and six days a week of support and local representation. Find NAPA TRACS on the Web at http://napatracs.com/ Get ready to grow your business with the Automotive Management Network: Find on the Web at http://AftermarketManagementNetwork.com for information that can help you move your business ahead and for the free and informative http://LaborRateTracker.com Connect with the Podcast: -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Private Facebook Community: https://www.facebook.com/groups/1734687266778976 -Subscribe on YouTube: https://www.youtube.com/carmcapriotto -Follow on LinkedIn: https://www.linkedin.com/in/carmcapriotto/ -Follow on Instagram: https://www.instagram.com/remarkableresultsradiopodcast/ -Follow on Twitter: https://twitter.com/RResultsBiz -Visit the Website: https://remarkableresults.biz/ -Join our Insider List: https://remarkableresults.biz/insider -All books mentioned on our podcasts: https://remarkableresults.biz/books -Our Classroom page for personal or team learning: https://remarkableresults.biz/classroom -Buy Me a Coffee: https://www.buymeacoffee.com/carm -The Aftermarket Radio Network: https://aftermarketradionetwork.com -Special episode collections: https://remarkableresults.biz/collections

Mailbox - Self Rentals, S-Corps and Sales Tax [E124]

Thu, 27 Jun 2024 00:15:00 -0400

Thanks to our partners, NAPA TRACS and Promotive

More listener questions answered! This week is all about S Corporation tax benefits, determining fair market rent when renting property to yourself, and the details of sales tax on internal transactions. Optimize your tax strategy and enhance your business operations.

• Understanding the advantages and state-specific impacts of transitioning to an S Corporation.

• The importance of charging fair market rent to avoid future complications when selling your business.

• Clarifying the difference between sales tax and use tax for internal transactions and ensuring compliance.

• Real-life examples and answers to common tax planning and business structuring questions from listeners.

Thanks to our partners, NAPA TRACS and Promotive

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

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

The Do's and Don'ts of Owner Financing [E123]

Thu, 20 Jun 2024 00:15:00 -0400

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

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

Overtime, Hiring, Firing with Jamie Hasty [E122]

Thu, 13 Jun 2024 00:15:00 -0400

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

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

To Withhold or Not To (And How) [E121]

Thu, 06 Jun 2024 00:15:00 -0400

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

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/Was Going on with GME (Gamestop) Stock? [E120]

Thu, 30 May 2024 00:15:00 -0400

This week, Hunt unravels the mystery behind the AMC and GameStop stock phenomena that has captivated the financial world.

Institutional Investors: Who they are and their impact on the stock market.
Private Equity Dynamics: How firms like Bain Capital manipulate markets.
Short Selling: A simple explanation of this complex strategy.
Public Power: How individual investors can influence stock prices.

Thanks to our partners, NAPA TRACS and Promotive

Now show notes!

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

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

Should I Pay My Spouse? Should We File Separate? [E119]

Thu, 23 May 2024 00:15:00 -0400

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

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

Housing Market, Paying Off Your House and Sky High Interest Rates [E118]

Thu, 16 May 2024 00:15:00 -0400

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

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 Calculate Your Break Even Point [E117]

Thu, 09 May 2024 00:15:00 -0400

Join Hunt in this important discussion about financial planning for auto repair shop owners. This episode explores why breaking even isn't enough and how to set financial targets that ensure long-term business health and growth.

• Understanding Break-even: Why merely covering costs can jeopardize business sustainability, and how to calculate real financial targets.

• Strategic Planning Tips: Learn conservative financial planning techniques to safeguard your business against unexpected downturns.

• Team Communication: The importance of setting clear financial goals and maintaining transparency to motivate your team.

• Actionable Financial Advice: Step-by-step guidance on setting sales and profit targets based on your gross profit percentage.

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

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

Interest Rates and Market Update [E116]

Thu, 02 May 2024 00:15:00 -0400

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

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

Is There Going to be a Wealth Tax? [E115]

Thu, 25 Apr 2024 00:15:00 -0400

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

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 the "Rich" Pay Their Fair Share of Taxes? [E114]

Thu, 18 Apr 2024 00:15:00 -0400

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

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

Will I Qualify for that Loan? Will the Buyer of My Business? [E113]

Thu, 11 Apr 2024 00:15:00 -0400

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

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

Making a Profit Without Marking Up Parts? [E112]

Thu, 04 Apr 2024 00:15:00 -0400

In the latest episode of "Business by the Numbers," Hunt tackles an intriguing question for auto repair shops: Can success be achieved without marking up parts? This concept challenges traditional profit models in the auto repair industry, sparking a discussion on how feasible this strategy actually is. This episode explores the potential shift towards labor-only profits and its impact on shop operations.

• Labor vs. Parts Profits: Evaluating the potential for auto repair shops to sustain profitability solely through labor, eliminating the need for parts markup.

• Customer Pricing Perception: How the shift to a labor-only model could simplify pricing discussions with customers in the digital age.

• Legal and Financial Considerations: The episode explores the complexities of sales tax, state regulations, and the financial implications of a no-markup strategy.

• Future of Auto Repair Industry: Encourages shop owners and mechanics to reflect on innovative practices that could redefine success and adapt to evolving customer expectations.

Thanks to our partners, NAPA TRACS and Promotive

Did you know that NAPA TRACS has onsite training plus six days a week support?

It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.

Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com

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

Mailbox: Listener Questions Answered [E111]

Thu, 28 Mar 2024 00:15:00 -0400

In the latest episode of Business by the Numbers, Hunt Demarest, CPA at Paar Mellis & Associates, tackles your top questions on taxes, accounting, and navigating government policies for small businesses. This episode explores how recent government actions like the budget deal affect your business, alongside evergreen topics like:

• Paying Yourself: What's the best way to balance salary and dividends, especially considering different business structures like S corporations and sole proprietorships?

• Succession Planning: How can you smoothly transfer your business to a family member, weighing the pros and cons of stock vs. asset sales?

• Accounting Methods: The real impact of choosing between accrual and cash accounting for your business's financial health.

• Overtime Calculations: Navigating the complexities of overtime pay, focusing on the nuances of bonuses in your payroll.

Thanks to our partners, NAPA TRACS and Promotive

Did you know that NAPA TRACS has onsite training plus six days a week support?

It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.

Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com

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

Rising Costs - Raising Prices [E110]

Thu, 21 Mar 2024 00:15:00 -0400

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

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?! [E109]

Thu, 14 Mar 2024 00:15:00 -0400

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

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

The Balancing Act: Time, Money, and the (Automotive) Entrepreneur [E108]

Thu, 07 Mar 2024 00:15:00 -0400

In this episode, Hunt sits down with Jay Huh, a down-to-earth auto repair shop owner from North Carolina who's also a skilled public speaker, coach at Shop Fix, and even a pilot. Jay spills the beans on how he landed a speaking gig at the VISION Hi-Tech Training Expo with just a month's notice and why he's all in on making the auto repair industry better for everyone. His real talk and practical advice are not just about fixing cars but fixing the business side of things too.

Here's a quick rundown of what Jay shares:

• Passion Over Profit: Jay opens up about his journey from the brink of personal and professional disaster to finding his purpose in the auto repair world. He's all about giving back, stressing that making a profit shouldn't be a taboo topic.

• Work-Life Balance: He dives into how he restructured his business to not only be more profitable but to also have time for what matters most — family. Jay is proof that you can have your cake and eat it too, running a successful shop without sacrificing every waking moment at work.

• Financial Savviness: With a straightforward chat about managing finances, from rebate checks to navigating economic uncertainty, Jay offers his two cents on keeping your shop afloat and thriving, no matter what the market throws at you.

Thanks to our partners, NAPA TRACS and Promotive

Did you know that NAPA TRACS has onsite training plus six days a week support?

It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.

Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com

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

The True Cost of Inaction [E107]

Thu, 29 Feb 2024 00:15:00 -0400

This week on Business by the Numbers, I want to talk shop and share insights that hit close to home for every garage owner out there. Today, I’m talking about an often overlooked aspect of your business - the true cost of inaction. Not just the dollars and cents you count every day, but the opportunities you might be missing out on.

• The Hidden Expenses: The not-so-obvious costs tied to decision-making in your shop. From choosing between internal work vs. retail work to the long-term effects of quick fixes

• Opportunity Cost Explained: Ever wondered about the cost of sitting on your couch instead of grabbing that $100 helping a buddy out? Opportunity Cost: It's all about what you're missing out on by choosing one option over another.

• Real-life Examples: From loaner cars to hiring decisions, I aim to illustrate how overlooking opportunity costs can have a tangible impact on your bottom line.

And hey, if you're hitting up Kansas City for Vision 2024, swing by and say hi. I'll be there, ready to chat and share insights in person. See you out there!

Thanks to our partners, NAPA TRACS and Promotive

Did you know that NAPA TRACS has onsite training plus six days a week support?

It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.

Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com

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

Mortgage Rates, Forecast, Self Employment with Pat McCormick [E106]

Thu, 22 Feb 2024 00:15:00 -0400

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

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

Help! I Can't Pay my Taxes! [E105]

Thu, 15 Feb 2024 00:15:00 -0400

As tax season 2024 unfolds, many entrepreneurs find themselves grappling with previous years' unpaid taxes, alongside the looming obligations for the current year. This episode gets into practical solutions for managing tax debt, with real-life advice and expert insights to navigate this challenging aspect of business ownership.

• Understanding Your Options with the IRS: Setting up a payment plan with the IRS is the most common recourse for those unable to pay taxes in full. Learn about the prerequisites, process, and potential pitfalls. How does the IRS view income versus payroll tax debts? What are the crucial differences that could affect your business?

• The Truth About Offers in Compromise: Offers in Compromise (OIC) might seem like a silver bullet for tax woes, but they're often misunderstood and not as easily attainable as advertised. I I try to demystify OICs, outlining the qualifications, processes, and the reality behind settling tax debts for "pennies on the dollar." Why are these offers rarely the best solution for most taxpayers?

• Practical Tips and Real-World Strategies: Beyond understanding IRS mechanisms, this episode provides actionable advice for managing and potentially settling tax debts. From negotiating with state tax authorities to leveraging existing assets and income for a better outcome, learn strategies that could save your business significant amounts of money and stress.

Thanks to our partners, NAPA TRACS and Promotive

Did you know that NAPA TRACS has onsite training plus six days a week support?

It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.

Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com

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

Selling Tires : Can you Afford Not To? With Mike Edge [E104]

Thu, 08 Feb 2024 00:15:00 -0400

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

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 Your Number? (How to Die with Zero) [E103]

Thu, 01 Feb 2024 00:15:00 -0400

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

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

Setting Goals for 2024 [E102]

Thu, 25 Jan 2024 00:15:00 -0400

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

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

New Spending Deal, Taxes and ERTC [E101]

Thu, 18 Jan 2024 00:15:00 -0400

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

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

Charitable Contributions Explained [E100]

Thu, 11 Jan 2024 00:15:00 -0400

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

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

Writing Off Your Racecar [E099]

Thu, 04 Jan 2024 00:15:00 -0400

In this year's first episode, join CPA and racing enthusiast Hunt Demarest as he explores the intersection of race car enthusiasm and savvy business tactics. We're tackling the complex world of race car expenses and their tax implications:

New Year's Goals: Discover Hunt's unique blend of personal and professional resolutions.
Racing vs. Accounting: A deep dive into the cost-effectiveness and passion behind racing and its comparison to accounting.
Debunking Tax Myths: Learn the truth about race car expenses and tax deductions.
IRS Perspectives: Understand the fine line between hobby expenses and legitimate business costs.
Audit Insights: Real-world stories from IRS audits related to race car expenditures.
Expert Strategies: Practical advice for race car owners on aligning their hobby with business and tax regulations.
Audit Preparedness: Tips on documentation and audit defense strategies."

Thanks to our partners, NAPA TRACS and Promotive

Did you know that NAPA TRACS has onsite training plus six days a week support?

It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.

Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com

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

The Final Countdown - End of 2023 Updates [E098]

Thu, 28 Dec 2023 00:15:00 -0400

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

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

End of Year: Allowances Vs. Reimbursements [E097]

Thu, 21 Dec 2023 00:15:00 -0400

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

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

New Book: Wrenches to Write-Offs [E096]

Thu, 14 Dec 2023 00:15:00 -0400

In this week’s episode, Hunt introduces his new book, "Wrenches to Write Offs," offering essential tax tips for repair shop owners. This book combines fundamental tax knowledge with practical strategies for smarter business operations.

• Book Launch: Introduction of "Wrenches to Write Offs," a guide simplifying taxes for repair shop owners.

• Availability: Details on purchasing options, including Amazon's hard copy and Kindle versions, and a free PDF version on the official website.

• Community Impact: All proceeds from the book sales (if you choose to buy through Amazon) are donated to charity, supporting the industry and providing educational scholarships.

Thanks to our partners, NAPA TRACS and Promotive

Did you know that NAPA TRACS has onsite training plus six days a week support?

It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.

Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com

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

Health Insurance [E095]

Thu, 07 Dec 2023 00:15:00 -0400

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

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

Recruiting the Right Way with Joelle Pollak from Promotive [E094]

Thu, 30 Nov 2023 00:15:00 -0400

This week, Hunt sits down for an insightful Chat with Joelle Pollak to talk about how Promotive is tackling staffing shortages in the automotive aftermarket, offering innovative solutions for shop owners.

Expert Take on Recruitment Challenges: Dive into the complexities of hiring, focusing on the crucial balance of pay, benefits, and shop culture in attracting and retaining top talent.
Promotive's Strategic Approach: Learn about Promotive’s unique strategies in talent retention and their collaboration with technical schools to address the technician shortage.
Streamlined Staffing Solutions: Explore how Promotive’s comprehensive services simplify the recruitment process, saving time and efficiently matching shops with ideal candidates.

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

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

Bad Numbers from Shop Management Software = Bad Financials [E093]

Thu, 23 Nov 2023 00:15:00 -0400

Hunt explores the crucial differences between shop management software and QuickBooks, focusing on the impact on parts margin. This episode is a must-listen for shop owners and financial managers seeking clarity and efficiency in their business operations.

• Dual Bookkeeping Explained: Unravel the reasons behind running two sets of books and its effect on your financials.

• Real-Life Client Case: Learn from a client's experience with discrepancies in parts margin between shop management systems and QuickBooks.

• Strategies for Financial Accuracy: Gain insights into aligning financial data across platforms for precise tracking 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

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

True Cost of Paid Time Off [E092]

Thu, 16 Nov 2023 00:15:00 -0400

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

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

The End of Realtors? [E091]

Thu, 09 Nov 2023 00:15:00 -0400

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

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

Leases vs Loans - Does It Matter [E090]

Thu, 02 Nov 2023 00:15:00 -0400

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

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

Is My Business Worthless? [E089]

Thu, 26 Oct 2023 00:15:00 -0400

This week on Business by the Numbers, Hunt gets into business valuation: from tangible assets to the nuances of reputation and team value, all underlined by real client stories. Every business has value, and understanding it is pivotal for both sellers and buyers. Adapt and strategize for the future by exploring:

• Valuation Nuances: Beyond the typical metrics, understanding true business worth.

• Client Spotlight: Challenges of valuing businesses with unique personal touches.

• Reputation & Team Value: A deep dive into the weight of a good reputation and a skilled team, as well as the impact of long-standing positive reviews.

• Business Relocation: The challenges and strategies involved.

• Team Dynamics: Unpacking why a skilled team can be the prime motivator for buyers.

• Pricing Considerations: The balance and challenges of pricing 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

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

Solar Renewable Energy Credits [E088]

Thu, 19 Oct 2023 00:15:00 -0400

In this episode of Business by the Numbers, Hunt explores the world of renewable energy incentives and tax credits. From solar panel tax credits to the latest in EV charging station incentives, he breaks down some key points to help you make informed decisions for a greener future.

• Solar Panel Tax Credits: Explore the benefits of solar panel tax credits for both residential and commercial properties, including how to claim them on your tax return.

• Return on Investment (ROI): How to calculate the ROI for solar panel installations, considering factors like tax savings, utility bill reduction, and state-specific credits.

• EV Charging Station Tax Credit: Discover the newly introduced tax credit for commercial EV charging stations, with insights into eligibility and potential revenue streams.

• Geographical Limitations: Be cautious of geographical restrictions and utility company approvals when planning solar panel and EV charging station installations.

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

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

EV's - Electric Vehicles Credits Explained [E087]

Thu, 12 Oct 2023 00:15:00 -0400

This week on Business by the Numbers, Hunt explores if EVs are transport's future or a subsidized industry.

Manufacturers' stance: e.g., Toyota's hybrid focus and a breakdown of the 2023 credit rules: Differences in dates, base vs max credits, and the significance of kilowatt hours, as well as insight into the business strategies of major players like Rivian and Tesla.
Shift from kWh focus to U.S. sourced minerals & battery components, with clarifications on "Made in America" vs. "Final Assembly in America.” Hunt also explores vehicle eligibility criteria, credit restrictions, income & MSRP limits, and unique rules for used vehicles.
Hunt talks about 2024 changes, such as the immediate benefits and strategic considerations if you’re thinking of buying EV. He also talks about the importance of doing your own research & where go to do it!

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

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

Government Shutdown Averted...For Now [E086]

Thu, 05 Oct 2023 00:15:00 -0400

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

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

Are You Insured? [E085]

Thu, 28 Sep 2023 00:15:00 -0400

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

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

The End of ERTC? (Employee Retention Tax Credit) [E084]

Thu, 21 Sep 2023 00:15:00 -0400

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

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

Estimated Taxes and Tax Forecasting [E083]

Thu, 14 Sep 2023 00:15:00 -0400

This week, dive into proactive tax management. Whether you're wrapping up extended returns from 2022 or gearing up for the next tax year, now's the time to strategize. Hunt unpacks essential insights:

• Tax Extensions: Can they shield you from audits?

• Working with Accountants: Understand reasonable expectations and collaborate effectively to plan your taxes for the coming year.

• DIY Tax Forecasting: Tools to craft a ballpark tax estimate for next year, plus ways to refine those figures.

• Estimated Tax Payments: Not mandatory, but Hunt reveals why they're a wise move.

• Tax Myths Demystified: Learn the facts to minimize tax liabilities and debunk some fairly common misconceptions.

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

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

Separating Profit Centers in Financials [E082]

Thu, 07 Sep 2023 00:15:00 -0400

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

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

Benchmark Report: Top vs. Not Shops [E081]

Thu, 31 Aug 2023 00:15:00 -0400

The comprehensive Automotive Industry Benchmark Report is now live! Want the full details? Dive in at www.paarmelis.com.

• Decoding Top Shops: How did we determine the crème de la crème of automotive shops? Today, Hunt sheds light on the meticulous methodology behind it. Is it about the sales charts, workforce strength, or the footprint in community welfare? Learn which set of metrics defined success.

• The Stark Contrast: Hunt explores the big differences between the top-performing shops and the ones that aren’t performing as well. Learn the reasons behind these disparities and get ready to be surprised by the findings!

• Metrics that Matter: Technician productivity. Compensation structures. Overall efficiency. How do these parameters influence the success trajectory of a shop? Delve deep into the data-driven insights and conjectures drawn from the numbers.

Thanks to our partners, NAPA TRACS and Promotive

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

Industry Benchmark Report: Initial Thoughts [E080]

Thu, 24 Aug 2023 00:15:00 -0400

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

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

ROTH Retirement Accounts [E079]

Thu, 17 Aug 2023 00:15:00 -0400

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

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

Credit Card Processing Fees [E078]

Thu, 10 Aug 2023 00:15:00 -0400

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

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

Buying Your Boss's Shop with Matt Fanslow [E077]

Thu, 03 Aug 2023 00:15:00 -0400

In this week's episode of Business by the Numbers, Hunt sits down with the knowledgeable Matt Fanslow (“Diagnosing The Aftermarket A-Z” Podcast) to candidly discuss the journey of buying his boss' shop such as:

• Roadblocks in the Buying Process:

• Influence of External Parties on Behaviors and Relationships

• Personal and Financial Ramifications of Buying Your Boss' Shop: Explore the risks involved as Matt recounts his own experiences and lessons learned.

Thanks to our partners, NAPA TRACS and Promotive

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

Are You Advertising Efficiently or Inefficiently? [E076]

Thu, 27 Jul 2023 00:15:00 -0400

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

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

Customer Acquisition Cost [E075]

Thu, 20 Jul 2023 00:15:00 -0400

Hunt delves into the critical topic of calculating customer acquisition cost and understanding its intricacies.

• Defining the A+ Customer: How the type of customer plays a significant role in determining acquisition cost. Learn about factors that influence this cost and how identifying your ideal customer can optimize your marketing efforts.

• The popular adage of "good, fast, or cheap - pick two" and how it pertains to your business. I'll talk about strategies to assess which approach aligns best with your advertising goals.

• The Power of Source Reporting: highlighting the significance of source reporting in your advertising campaigns. Understand how accurate data about your ad sources can greatly impact the direction and success of your ad spending, enabling you to optimize your marketing budget effectively.

Thanks to our partners, NAPA TRACS and Promotive

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

Predatory Lending [E074]

Thu, 13 Jul 2023 00:15:00 -0400

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

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

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

Passing Your Business on to the Next Generation - Part 2: The Deal [E073]

Thu, 06 Jul 2023 00:15:00 -0400

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.

Thanks to our partners, NAPA TRACS and Promotive

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

Passing Your Business on to the Next Generation - Part 1: The Basics [E072]

Thu, 29 Jun 2023 00:15:00 -0400

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

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

Interest Rates vs. Business Expansion [E071]

Thu, 22 Jun 2023 00:15:00 -0400

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

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

Are S-Corp Distributions/Draws Taxable? [E070]

Thu, 15 Jun 2023 00:15:00 -0400

This week Hunt discusses a common misconception surrounding S-Corp draws and how they are taxed.

• What is a draw and how do you know how much you can take out of your business?

• Does the amount that I pay myself have any relationship or impact on how much in draws I can take?

• Do I pay tax on my draws?

• What are issues that I could end up paying taxes on my distributions from my business?

Thanks to our partners, NAPA TRACS and Promotive

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

Memorial Day and a Reflection on Your Numbers [E068]

Thu, 01 Jun 2023 00:15:00 -0400

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.

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

Memorial Day and a Reflection on Your Numbers [E068]

Thu, 01 Jun 2023 00:15:00 -0400

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.

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

Pricing [E067]

Thu, 25 May 2023 00:15:00 -0400

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

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

Opportunity Cost [E066]

Thu, 18 May 2023 00:15:00 -0400

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

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

Talking Loaner Cars with Laura Tierney from ShopLoaner [E065]

Thu, 11 May 2023 00:15:00 -0400

This week Hunt sits down with Laura Tierney from ShopLoaner to discuss bringing your loaner fleet into the 21st century.

• How can utilizing software streamline your workflow as well as actually generate money in seconds?

• What are some major pitfalls of having shop loaners, and how can you avoid those?

• Who is a good candidate for loaner cars, and who should you think twice about giving a loaner to?

• How can I recover costs from customers for gas, tolls, fines, and other charges they incur?

Thanks to our sponsor partner NAPA TRACS

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

May Market Update [E064]

Thu, 04 May 2023 00:15:00 -0400

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

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

Where Did all the Cash Go? [E063]

Thu, 27 Apr 2023 00:15:00 -0400

This week Hunt talks about the most significant missing link between his clients that make money (rich people) and have money (wealthy people)

• Is there a relationship between how much money someone makes and how much money they actually have?

• What is your personal ratio, and how can you improve it?

• If you have never saved money, how can you start setting yourself up to be more responsible in the future?

• Is debt something to be avoided, or can you actually leverage debt to save more money?

Thanks to our sponsor partner NAPA TRACS

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

Can I Expense That? Should I? [E062]

Thu, 20 Apr 2023 00:15:00 -0400

This week Hunt covers a listener request regarding grey-area expenses that can be deducted by your business, but should they always be?

• What does the IRS look at on my expenses if I was ever to be audited?

• How does satisfying the requirement of "ordinary and necessary" expenses for my business shift my possible deductions?

• How am I taxed if I buy a personal asset from myself for my business?

• What are some downfalls to going overboard in writing off expenses in my business that affect me in the short term and long term?

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

Denny's Auto - 4 day work week [E061]

Thu, 13 Apr 2023 00:15:00 -0400

This week Hunt sits down with Mitch Moncur of Denny's Auto in Utah to discuss the takeaways from moving to a 4-day work week.

• What are some of the most significant changes you noticed with your team since you moved to a 4-day work week?

• Any negative feedback from customers by reducing the number of days open?

• Is this something that you believe will allow you to retain or attract new team members?

• Have there been any unintended consequences from moving to the 4-day work week?

Thanks to our sponsor partner NAPA TRACS

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

Planning and Saving for Taxes [E060]

Thu, 06 Apr 2023 00:15:00 -0400

This week Hunt discusses the pitfalls of falling behind on taxes and ways to save to avoid them.

• If I am an S-corp, can I pay my personal taxes from my business?

• How should you pay in taxes if you have payroll and profits from your business?

• Can you pay your taxes all at the end of the year and avoid estimates all together?

• If I cannot pay my tax bill, how do I pay it back over time?

Thanks to our sponsor partner NAPA TRACS

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

Not All Deductions Are Equal [E059]

Thu, 30 Mar 2023 00:15:00 -0400

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

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

Paying Down Debt [E058]

Thu, 23 Mar 2023 00:15:00 -0400

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

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

Silicon Valley Bank [E057]

Thu, 16 Mar 2023 00:15:00 -0400

This week Hunt discusses the current banking crisis and the collapse of Silicon Valley Bank.

• What happened to Silicon Valley Bank, and are there other banks at risk of the same fate?

• What risk factors played a role in the eventual collapse of the bank?

• What role does the government play in these situations, and what are they doing to fix this?

• What are the after effects of something like this going to be?

Thanks to our sponsor partner NAPA TRACS