This week Hunt covers a listener request regarding grey-area expenses that can be deducted by your business, but should they always be?

• What does the IRS look at on my expenses if I was ever to be audited?

• How does satisfying the requirement of "ordinary and necessary" expenses for my business shift my possible deductions?

• How am I taxed if I buy a personal asset from myself for my business?

• What are some downfalls to going overboard in writing off expenses in my business that affect me in the short term and long term?

Thanks to our sponsor partner NAPA TRACS

NAPATRACS.com

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: [email protected]

Get a copy of my Book : Download Here

This week Hunt sits down with Mitch Moncur of Denny's Auto in Utah to discuss the takeaways from moving to a 4-day work week.

• What are some of the most significant changes you noticed with your team since you moved to a 4-day work week?

• Any negative feedback from customers by reducing the number of days open?

• Is this something that you believe will allow you to retain or attract new team members?

• Have there been any unintended consequences from moving to the 4-day work week?

Thanks to our sponsor partner NAPA TRACS

NAPATRACS.com

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: [email protected]

Get a copy of my Book : Download Here

This week Hunt discusses the pitfalls of falling behind on taxes and ways to save to avoid them.

• If I am an S-corp, can I pay my personal taxes from my business?

• How should you pay in taxes if you have payroll and profits from your business?

• Can you pay your taxes all at the end of the year and avoid estimates all together?

• If I cannot pay my tax bill, how do I pay it back over time?

Thanks to our sponsor partner NAPA TRACS

NAPATRACS.com

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: [email protected]

Get a copy of my Book : Download Here

This week Hunt discusses the differences in taxation of common expenses that you might not be aware of.

• What kind of meals am I allowed to deduct and how are in house meals different than meals offsite?

• How much of a deduction do I get if I donate my services to a charity or donate a piece of business equipment?

• Should I write off my life insurance premiums?

• What other classifications should I be aware of on my P&L that could effect my end of year taxes?

Thanks to our sponsor partner NAPA TRACS

NAPATRACS.com

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: [email protected]

Get a copy of my Book : Download Here

This week Hunt discusses the basics behind debt and how to pay your debt down in a safe manor.

• What factors go into evaluating whether debt is a good option or not?

• How does leverage work with debt and how do you analyze the situation to make sure it will be a profitable one?

• Do I actually want to be debt free or is this debt making me more money than it is costing me?

• How do I select what debt to start paying down first?

Thanks to our sponsor partner NAPA TRACS

NAPATRACS.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: [email protected]

Get a copy of my Book : Download Here

This week Hunt discusses the current banking crisis and the collapse of Silicon Valley Bank.

• What happened to Silicon Valley Bank, and are there other banks at risk of the same fate?

• What risk factors played a role in the eventual collapse of the bank?

• What role does the government play in these situations, and what are they doing to fix this?

• What are the after effects of something like this going to be?

Thanks to our sponsor partner NAPA TRACS

NAPATRACS.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: [email protected]

Get a copy of my Book : Download Here

This week Hunt discusses common mistakes and tips to better manage and protect your #cash.

• How to understand if your personal spending requirements are hurting your business?

• How can you ensure that you aren't taking too much out of your business?

• Can there be too much cash in your business? What to do to minimize risk and maximize return.

• What options exist to get a better return on my money without significant risks?

Thanks to our sponsor partner NAPA TRACS

NAPATRACS.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: [email protected]

Get a copy of my Book : Download Here

Thanks to our sponsor partner NAPA TRACS

NAPATRACS.com

This week Hunt talks about the debt ceiling as well as the national debt and how it is already affecting our lives.

• How does the government generate and borrow money?

• Who is financing the national debt of our country?

• How are these issues affecting you right now, and what future input could that have on your taxes and customers?

• What does the future hold if we want to try and reduce our deficit?

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: [email protected]

Get a copy of my Book : Download Here

• Lack of Study of basic economics and statistics
• Reversion to the Mean
• Simpson's Paradox
• Inflation and Projecting Future Trends
• Hunt Demarest, CPA, Paar Mellis and Associates, Business by the Numbers Podcast

The show is sponsored by NAPA Auto Care napaautocare.com

NAPA Benefits Center: napabenefitscenter.com

NAPA Member Site: member.napaautocare.com

Email Matt: [email protected]

Diagnosing the Aftermarket A - Z YouTube Channel HERE

This week Hunt talks about some tax season tips and common concerns that have been popping up with clients.

• Are there any major tax law changes from 2021 to 2022 tax returns?

• Are refunds smaller than the were in previous years and why is that?

• How to help employee with withholding shortages to avoid end of year surprises.

• What do you need to know before you file a personal extension?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: [email protected]

Get a copy of my Book : Download Here