Money Shift Podcast

Thinking about expanding your small business to a second location? This episode explores the critical considerations for auto repair shop owners looking to grow beyond their first shop. We'll examine the key signs that indicate your repair shop owner and business are truly ready for expansion, from running at capacity to having the right leadership in place. The discussion also uncovers hidde...

This episode of The Money Shift Podcast breaks down a trending tax tactic that’s catching attention in the auto repair world: registering vehicles in Montana to skip sales tax. Hosts Eric Joern and Jack Paeglow explain why this strategy can lead to serious problems for shop owners, including legal exposure, insurance issues, and penalties. You’ll learn: - Why a Montana LLC without a legitimate bus...

This episode of The Money Shift Podcast provides key financial advice for every auto repair shop owner by introducing the concept of clearing accounts. The discussion explains how these temporary holding accounts can solve common accounting problems like timing errors and mismatched data, giving a small business owner a clearer picture of their finances. The episode details various types of cleari...

This episode of The Money Shift Podcast provides crucial financial advice for every auto repair shop owner by demystifying "basis," a fundamental accounting concept that many find confusing. The discussion clarifies how this scorecard of your business's financial health determines what you can deduct, how much money you can take out of the business, and the potential tax implication...

On the first episode of The Money Shift Podcast, we provide valuable financial advice for every auto repair shop owner, exploring the critical factors that determine a business's value beyond its physical assets. The discussion highlights the difference between traditional financial statements and tax returns, and how a clean balance sheet is crucial for a smooth sale. Learn what a potential...