Business By The Numbers

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...

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 reti...

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 t...

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...

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...

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 o...

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 propert...

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....

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 mai...

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...

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...

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 prope...

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 de...

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 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 exercisin...

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 ma...

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...

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 whe...

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 wit...

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 l...

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 discusse...

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 ope...

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 div...

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...

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 r...