1. This week Hunt discusses a common misconception surrounding S-Corp draws and how they are taxed.

• What is a draw and how do you know how much you can take out of your business?

• Does the amount that I pay myself have any relationship or impact on how much in draws I can take?

• Do I pay tax on my draws?

• What are issues that I could end up paying taxes on my distributions from my business?

Thanks to our partners, NAPA TRACS and Promotive

Visit NAPATRACS.com and GoPromotive.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 how sometimes reflecting on the past financials isn't always fun but its always necessary.

• What is the purpose of financials and how does past performance effect future expectations?

• How can I utilize past months or years financials to judge the accuracy or expectations of sales targets and projections?

• What can I learn from bad months and is there always something that needs to be done to change?

• How to understand the difference between the new normal or a one-time event that drastically changes your response?

Thanks to our partners, NAPA TRACS and Promotive.

Visit NAPATRACS.com and GoPromotive.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 how sometimes reflecting on the past financials isn't always fun but its always necessary.

• What is the purpose of financials and how does past performance effect future expectations?

• How can I utilize past months or years financials to judge the accuracy or expectations of sales targets and projections?

• What can I learn from bad months and is there always something that needs to be done to change?

• How to understand the difference between the new normal or a one-time event that drastically changes your response?

Thanks to our partners, NAPA TRACS and Promotive.

Visit NAPATRACS.com and GoPromotive.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 if we ever really will see prices go back to "normal" and how that effects all of us.

• Do you think that prices will ever go down and what about your business? Will you ever decrease your rates?

• How can you decrease your prices if you do not decrease your employee wages?

• How are supply chains effecting prices with increases in ever single step of the distribution chain?

• If prices are only increasing because of costs, why are corporations making record profits in a time where they are supposedly short on cash?

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 actual cost of that aging loaner fleet. Are they really as cheap as you think?

• What is an opportunity cost? How does that impact the actual cost of my loaner fleet?

• Does opportunity cost apply to me and my team equally?

• So, you spend a couple hundred dollars in parts to keep that beater on the road, but is it really "cheaper than a car payment?"

• How does opportunity cost apply to a tow truck that I also have off the road and not making me money?

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 Laura Tierney from ShopLoaner to discuss bringing your loaner fleet into the 21st century.

• How can utilizing software streamline your workflow as well as actually generate money in seconds?

• What are some major pitfalls of having shop loaners, and how can you avoid those?

• Who is a good candidate for loaner cars, and who should you think twice about giving a loaner to?

• How can I recover costs from customers for gas, tolls, fines, and other charges they incur?

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 talks about the recent Fed meeting, the impacts, and other factors affecting the current market.

• How much impact is the recent Fed rate increase going to have on me?

• What can we learn from the federal reserve that will shape how the rest of the year is going to unfold?

• Is there a real possibility that the US could default on some of its debt and what would be the impacts of this?

• Is a market correction inevitable and is that truly as bad as it sounds?

Link for Chart: https://data.bls.gov/timeseries/JTS000000000000000JOL

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 talks about the most significant missing link between his clients that make money (rich people) and have money (wealthy people)

• Is there a relationship between how much money someone makes and how much money they actually have?

• What is your personal ratio, and how can you improve it?

• If you have never saved money, how can you start setting yourself up to be more responsible in the future?

• Is debt something to be avoided, or can you actually leverage debt to save more money?

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 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