Business By The Numbers Aftermarket Radio Network

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
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
Aftermarket Radio Network

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
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
Aftermarket Radio Network

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
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
Aftermarket Radio Network

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
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
Aftermarket Radio Network

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
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
Aftermarket Radio Network

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
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
Aftermarket Radio Network