Business By The Numbers

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 a...

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-...

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 contempla...

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...

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 r...

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 ch...

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...

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...

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 impo...

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 pass...

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. ...

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. •...

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...

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 f...

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...

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:...

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...

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 p...

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 le...

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. •...

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 proper...

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....

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 g...

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....

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...