Business By The Numbers

Aftermarket Radio Network
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Business By The Numbers

Hunt Demarest, CPA has consistently provided his financial business acumen to help move the industry toward greater heights of success and profitability. Hunt was recently referred to as a "terrific advocate of the aftermarket." He is the author of the book, Your Perfect Shop: How to Start, Run & Sell a Profitable Shop. In this book, he compiled some of the best practices for auto repair shop owners, whether they are just starting or have been in the business for years. Hunt's podcast will provide a core understanding of the financial aspects of running an auto repair shop.

  1. Maintaining Proper Reserves [E150]

    19시간 전

    Maintaining Proper Reserves [E150]

    Thanks to our partners, NAPA TRACS and Promotive The holiday season can make or break your cash reserves, especially for auto shop owners juggling finances. In this episode of Business by the Numbers, Hunt Demarest, CPA, breaks down the art of cash management for small businesses. Learn actionable strategies to protect your reserves and avoid the pitfalls of cashflow mismanagement. Understanding what "cash reserves" truly mean for your business.Setting the ideal reserve amount: three to six months of operating expenses.The dangers of draining your business for personal finances and how to avoid it.Why keeping too much cash in the business might not be as safe as you think.Strategies to pay down debt responsibly without creating a cash crunch. 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 Thanks to our partner, Promotive It’s time to hire a superstar for your business; what a grind you have in front of you. 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 Download a Copy of My Books Here: Wrenches to Write-OffsYour Perfect Shop  The Aftermarket Radio Network: https://aftermarketradionetwork.com/ Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/ Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/ Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. https://huntdemarest.captivate.fm/ a...

    24분
  2. The Handbook for Self-Rentals: Fair Market and Taxes [E149]

    12월 19일

    The Handbook for Self-Rentals: Fair Market and Taxes [E149]

    Thanks to our partners, NAPA TRACS and Promotive In this episode of Business by the Numbers, Hunt dives into the critical topic of self-rentals for shop owners. Whether you’re already renting your property to your business or just considering it, Hunt explains why paying yourself rent the right way protects your assets, ensures compliance, and preserves your business’s value. Learn why legal protection through a rental LLC is non-negotiable.Discover how to calculate fair market rent and why it matters.Avoid common pitfalls that could devalue your business when it’s time to sell.The role of rental LLCs in protecting personal and business assets.How to set up leases and bank accounts for compliance.Why undervaluing your rent can cost you during business sales.Tax implications of self-rentals (spoiler: it’s not about saving money).How to determine fair market rent for your property. 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 Thanks to our partner, Promotive It’s time to hire a superstar for your business; what a grind you have in front of you. 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 Download a Copy of My Books Here: Wrenches to Write-OffsYour Perfect Shop  The Aftermarket Radio Network: https://aftermarketradionetwork.com/ Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/ Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/ Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. a href="https://huntdemarest.captivate.fm/"...

    23분
  3. End of 2024 Update: Interest Rates, ERTC, BOI Reporting & More [E148]

    12월 12일

    End of 2024 Update: Interest Rates, ERTC, BOI Reporting & More [E148]

    Thanks to our partners, NAPA TRACS and Promotive End-of-year chaos is here, and Hunt’s been busy diving into webinars, questions, and updates on some big topics like the BOI report, interest rates, and the infamous Employee Retention Tax Credit (ERTC). In this episode, Hunt breaks down what’s happening, what you need to know, and what you should (or shouldn’t) do before heading into 2024. Here’s What You’ll Learn in This Episode: BOI Report (Beneficial Ownership Information): This rule was meant to track down shady business practices, but now it’s tangled in legal challenges and paused—for now. Already filed? You’re good. Haven’t filed? You’ve got choices. Hunt explains the pros and cons of sitting tight or filing now.Interest Rates and the Economy: Rates are dropping, but what does that actually mean? Hunt explains why “good news is bad news” for the economy and what’s expected for borrowing costs, CDs, and savings rates in 2024. Key dates to watch for financial reports that could shake things up (spoiler alert: December 11th and 12th are big ones).ERTC: Still Alive, but Barely: The IRS is drowning in a mountain of unprocessed claims—think years of delays.What to do if you’re still waiting on your ERTC money and why you shouldn’t count your chickens (or your tax credit) just yet.Learn more about how to fill out the BOI Report here: https://youtu.be/5pP1b_IzbSY 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 Thanks to our partner, Promotive It’s time to hire a superstar for your business; what a grind you have in front of you. 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 Download a Copy of My Books Here: Wrenches to Write-OffsYour Perfect Shop  The Aftermarket Radio Network: https://aftermarketradionetwork.com/ Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. a href="https://remarkableresults.biz/" rel="noopener noreferrer"...

    22분
  4. Forecasting: How To Set Goals for 2025 and Beyond [E147]

    12월 5일

    Forecasting: How To Set Goals for 2025 and Beyond [E147]

    Thanks to our partners, NAPA TRACS and Promotive Join Hunt Demarest, CPA from Paar Melis and Associates, as he dives into one of the most crucial aspects of financial planning for your business—forecasting for the year ahead. Whether you're setting your business goals or analyzing key performance metrics, Hunt provides actionable insights to help you simplify and strengthen your forecasting process. In this episode, you’ll learn: Why forecasting is essential for your business's growth and performance. Simple steps to start forecasting—even if you’ve never done it before. Tips on analyzing your current business performance to set realistic goals for 2025. How to use key financial metrics to identify areas of focus and improvement. Tools and methods to streamline your forecasting, from basic spreadsheets to advanced software.Discover how forecasting can bridge the gap between where your business is and where you want it to be. Start making data-driven decisions that drive profitability and success. 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 Thanks to our partner, Promotive It’s time to hire a superstar for your business; what a grind you have in front of you. 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 Download a Copy of My Books Here: Wrenches to Write-OffsYour Perfect Shop  The Aftermarket Radio Network: https://aftermarketradionetwork.com/ Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/ Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/ a href="https://huntdemarest.captivate.fm/" rel="noopener noreferrer"...

    23분
  5. The Basics of Accrual Accounting [E146]

    11월 28일

    The Basics of Accrual Accounting [E146]

    Thanks to our partners, NAPA TRACS and Promotive In this episode of Business by the Numbers, Hunt Demarest, CPA, dives into the world of accrual accounting versus cash basis accounting. If you've ever wondered when to record sales, parts costs, or payroll, this episode breaks it all down with practical examples and actionable tips. Learn how aligning your financial processes with accrual-based methods can offer a more accurate picture of your business performance. What is accrual accounting, and how does it differ from cash basis accounting?The importance of recording sales on accrual to match your shop management software.Why accruing parts costs ensures accuracy in financial statements.How payroll and overhead accruals can smooth out monthly financial fluctuations.Examples of when to prioritize accrual processes for material expenses. 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 Thanks to our partner, Promotive It’s time to hire a superstar for your business; what a grind you have in front of you. 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 Download a Copy of My Books Here: Wrenches to Write-OffsYour Perfect Shop  The Aftermarket Radio Network: https://aftermarketradionetwork.com/ Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/ Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/ Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. https://huntdemarest.captivate.fm/ a...

    31분
  6. How Much Can I Put in My Retirement? How Much Should I? [E145]

    11월 21일

    How Much Can I Put in My Retirement? How Much Should I? [E145]

    Thanks to our partners, NAPA TRACS and Promotive. End-of-year tax planning is in full swing, and retirement accounts are a key piece of the puzzle. In this episode of Business by the Numbers, Hunt Demarest breaks down IRAs, Simple IRAs, and 401(k)s to help you understand how to maximize savings and minimize taxes. Get actionable tips and insights to make the most of your retirement planning before the year ends. -The differences between Traditional IRAs, Roth IRAs, Simple IRAs, and 401(k)s. -Tax-saving benefits of contributing to retirement accounts before the end of the year. Insights into contribution limits for 2024 and strategies for funding accounts. -Key considerations for business owners when choosing between retirement plans. -Why starting small and consistent contributions outweigh one-time large deposits. Thanks to our partner, NAPA TRACS 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 Thanks to our partner, Promotive It’s time to hire a superstar for your business; what a grind you have in front of you. 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 Download a Copy of My Books Here: Wrenches to Write-OffsYour Perfect Shop  The Aftermarket Radio Network: https://aftermarketradionetwork.com/ Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/ Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/ Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. a href="https://huntdemarest.captivate.fm/" rel="noopener noreferrer"...

    25분
  7. How Much Should I Pay Myself? [E144]

    11월 14일

    How Much Should I Pay Myself? [E144]

    Thanks to our partners, NAPA TRACS, and Promotive A critical topic for business owners: how much you should pay yourself as an S-corporation owner. This episode clears up common misconceptions around payroll, distributions, and tax savings strategies. Whether you're a small business owner or a shop manager, understanding these financial nuances is crucial for maintaining profitability and compliance. Key Points: - Clarification of the S-corporation owner's dual roles as an employee and business owner, and their impact on financial strategy. - Differences between payroll and distributions and how they affect tax liabilities. - Why overpaying yourself in wages does not save on taxes and the financial consequences of excessive payroll tax burdens. - The IRS's guidelines on "fair and reasonable salary" for S-corp owners and how to meet this requirement effectively. - Social Security contributions: strategies for maximizing benefits while minimizing unnecessary tax burdens. Thanks to our partner, NAPA TRACS 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 Thanks to our partner, Promotive It’s time to hire a superstar for your business; what a grind you have in front of you. 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 Download a Copy of My Books Here: Wrenches to Write-OffsYour Perfect Shop  The Aftermarket Radio Network: https://aftermarketradionetwork.com/ Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/ Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/ Business by the Numbers with Hunt Demarest: Understand the Numbers of Your...

    20분
  8. Legal Advice From a CPA [E143]

    11월 7일

    Legal Advice From a CPA [E143]

    Thanks to our partner, NAPA TRACS In this episode, Hunt Demarest, CPA of Paar Melis and Associates, explores legal advice that CPAs often encounter, even though it's traditionally outside of their scope. From his personal experience with a rental property in Baltimore, Hunt dives into the importance of structuring real estate and business assets for liability protection. Here’s what you'll learn: Why CPAs sometimes need to give "legal advice" (and the inherent risks)How an LLC can provide a layer of legal protection for real estate investmentsKey steps to verify if your property is protected as intendedPractical advice on setting up single-member vs. multi-member LLCsCommon pitfalls when managing assets across multiple entities Thanks to our partner, NAPA TRACS 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 Thanks to our partner, Promotive It’s time to hire a superstar for your business; what a grind you have in front of you. 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 Download a Copy of My Books Here: Wrenches to Write-OffsYour Perfect Shop  The Aftermarket Radio Network: https://aftermarketradionetwork.com/ Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/ Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/ Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. https://huntdemarest.captivate.fm/ a...

    30분
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Hunt Demarest, CPA has consistently provided his financial business acumen to help move the industry toward greater heights of success and profitability. Hunt was recently referred to as a "terrific advocate of the aftermarket." He is the author of the book, Your Perfect Shop: How to Start, Run & Sell a Profitable Shop. In this book, he compiled some of the best practices for auto repair shop owners, whether they are just starting or have been in the business for years. Hunt's podcast will provide a core understanding of the financial aspects of running an auto repair shop.

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