Episode 97
End of Year: Allowances Vs. Reimbursements [E097]
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.
• Strategic Financial Management: Practical advice on offering vehicle-related and other expenses as tax-free reimbursements.
• Legal Compliance and Best Practices: Ensuring adherence to tax laws and the importance of accurate documentation in reimbursement processes.
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
