Business By The Numbers

Personal Finance and Investing with Andy Bizub. This week Hunt is joined by Andy Bizub of Midwest Performance Cars to talk everything personal finance and investing. • What are the big mistakes people make with their personal investing that can jeopardize liquidity and retirements? • What should you be looking for an average return on your investment portfolio? • Why is liquidity in your investmen...

How to Find Your Next Technician with Chris Lawson. This week Hunt is joined by Chris Lawson from Technician Find and we talk about how is able to find quality tech's even in todays market. • What are things that you can do to stand out and attract top level talent? • How can you setup a help wanted ad that delivers the right message to prospective employees? • Why it is so important to not only h...

How to Sell Real Estate and Avoid Taxes (1031 Exchange). This week Hunt talks about a way that you can avoid all taxes when selling a property. • How much tax do I generally pay when I sell a piece of real estate? • How can I utilize a 1031 exchange to reinvest proceeds into a new property? • What are things that you need to be aware of in order to qualify to do an exchange? • What are some creati...

Adjusting Parts Matrix for Inflation. This week Hunt talks about what why you might need to and how to adjust your parts matrix for inflation. • How is it possible for me to sell the same part for more money, but actually profit less? • How to analyze if you have an issue with declining parts margins. • What is going on in your parts matrix to cause declining profits? • How do you adjust your part...

ERTC Update (Employee Retention Tax Credit). This week Hunt follows up the ERTC, what to look for and how to understand if you qualify or not. • What are the ways that you can qualify for the ERTC and how to figure out if you do? • Is it true that you can qualify for this credit even if you don't have a decrease in sales? • What criteria do you have to satisfy to qualify for this credit without th...

Breaking Down Sales Targets. This week Hunt follows up on last week's episode surrounding sales goals and dives into how to break them down. How do I take a longer-term goal and break it down into a format easier to track and measure? What are some different ways that you can break down to each key member of your team? Is your current sales goal realistic based on your team or car count? How do yo...

What is My Break Even Point? This week Hunt talks about break-even points and how it is important to understand this aspect of your business. • What is a break-even point and how do I calculate mine? • What are the major drivers of increasing or decreasing your break-even point? • How to set proper goals to meet your break-even point? • How do I calculate my business to not break-even, but actuall...

Driving Profits Through Labor. This week Hunt is joined by Jaron Kleber from Repair Shop of Tomorrow to discuss the importance of labor profitability. • Is your posted labor rate set appropriately to make your desired labor gross profit? • Do you know what your technicians cost you per hour? • Do you know what your effective labor rate is? • Are you utilizing a labor matrix? Jaron's Email: jaron_k...

Am I Going to Be Audited? This week Hunt discusses if the rumors of 87,000 new IRS agents and if there is any truth to these claims and other causes of audits. • What is the IRS doing with all the new agents that they are hiring? • What increases your risks in getting audited and how can you minimize those? • What are other common types of audits and what should you do if you are ever audited? The...

Are Techs Employees or Contractors? This week Hunt discusses if there is a way that we can or should treat our techs as contractors. What is the difference between a contractor versus an employee and how does the IRS differentiate the two? Why would someone want to be a contractor, and how would that help our techs? What are some of the downsides of classifying our techs as contractors and the rea...

The gang’s all here; we have the entire Aftermarket Radio Network together for an important episode inspired by the movie Moneyball. We all have experience with people who are not our top performers, but are we better to have them on the team than not? You know them; they are consistent, reliable, steady, and contributors. Are they worth replacing? Will they become the best or top performers, or d...

How Much is My Shop Worth? This week Hunt discusses how to figure out what your shop is worth or what a prospective shop is really worth. • What method is used to value shops and what is included in that price? • What is EBITDA and what adjustments need to be made to figure out my true net income? • What are some things that you can do to drive the value of your shop and what are things that don't...

Shady Service Advisor This week Hunt discusses an issue he came across with one of his shops and service advisors manipulating RO's to inflate gross profit. • How was this service advisor able to do this? • What are some tips for being able to stop this from happening in your shop? • What are signs or metrics that could show that this is going on in a shop? The Show is sponsored by: Shop-Ware on t...

Technician Pay, Tools, and Taxes with Hunt Demarest Technicians want to know how their personal taxes and tools purchased for work are managed on your tax return. Flat Rate vs. Salary + Incentives Tax consequences Listen To Business By the Numbers Podcast with Hunt Demarest HERE . Hunt's Company Paar Melis and Associates – Accountants Specializing in Automotive Repair Visit us Online :  www.p...

Inflation Reduction Act - What We Know Now This week Hunt discusses what we currently know about the act currently going through congress. What is the Inflation Reduction Act, and why is it called that? What is included in the bill as we know now? What are the changes to taxes, and are those going to affect me? What are the overall impacts of the bill, and what should I be doing now to prepare? Th...

Interest Rates This week Hunt discusses interest rates and how it is affecting your business, and personal life, and what you need to do to try and work with them. Talking Points: Why are interest rates going up, and who is making these rates increase? What is the federal reserve, and how do these changes affect inflation? What can you be doing right now to offset interest rates and still be a pro...

Inflation. This week, Hunt discusses inflation, how it affects your business and personal life, and what you need to do to try and work with it. • What is inflation, and how is it calculated? • What is causing the high inflation that we are seeing today? • What can you be doing right now to offset inflation and still be a profitable business? • What does the near future look like because of this i...

Tax Planning This week Hunt discusses the importance of tax planning and some tips to save you money. • When should I start tax planning and how often should you update this? • Do I have to make estimated tax payments? • What are the best ways to save taxes? • What are some common mistakes or bad ideas when trying to minimize taxes? The Show is sponsored by: Shop-Ware on the web at getshopware.com...

Handling Big Purchases This week Hunt discusses the different ways to finance large purposes and how that changes the tax treatment? • Should I buy or lease my equipment and does that affect my taxes? • How are different kinds of leases taxed? • What kind of car will get me the most tax savings? • What kind of improvements to my real estate am I allowed to write the entire amount off? The Show is...

Entity Choices - Taxation and Legal Protection • What is the difference between a Corporation, LLC and Sole Proprietor? • What are my options for taxation for a LLC? • How should I setup my real estate entity and why is it important to have that in a LLC? • How should I setup my loaner car LLC... or should I? The Show is sponsored by: Shop-Ware on the web at getshopware.com NAPA Auto Care Repair S...

Value Pricing with Rob Nixon. This week Hunt sits down with Rob Nixon, the premiere coach and consultant for accounting firms. We got into a number of topics that are relevant for any kind of business owner. Some of the same things that he teaches accounting firms is the kind of philosophies that I talk with my shops as well. I think that his knowledge and expertise is always right on point and co...

Cryptocurrency This week Hunt discusses the different ways that crypto is taxed and what to be aware of if you are buying and selling or accepting crypto as payment. • How does buying and selling crypto get taxed? • Are my losses deductible? • What happens when you trade one coin for another or if you are mining them yourself? The Show is sponsored by: Shop-Ware on the web at getshopware.com NAPA...

S-Corp Owners Distributions and Pay. This week Hunt discusses the differences between S-Corp wages and draws and how to maximize to your advantage. • What are S-Corp Wages and how much should I pay myself? • How much in draws should I take? • What are the tax benefits of changing the way that you pay yourself? The Show is sponsored by: Shop-Ware on the web at getshopware.com NAPA Auto Care Repair...

Pass Through Entity Tax (PTET) - What You Need to Know This week Hunt discusses the pass-through entity tax that has become more common and was a big issue during this year's tax season. • What is Pass-Through Entity Tax? • Who is eligible to pay this? • Why would someone elect to use the pass-through entity tax and what are the tax savings? • How do I set up the Pass-Through The Show is sponsore...

EIDL - Economic Injury Disaster Loan - An Update Hunt discusses the end of the EIDL Program and what shops should know about it as of today. • What is the EIDL Loan Program and what are the terms? • What I am allowed to use this for? • What am I not allowed to use this for? Are they any way around these rules? • Should I pay mine back or should I hang onto it? The Show is sponsored by: Shop-Ware o...