Business By The Numbers

Hunt unpacks his recent experiences and learnings from the Virginia Automotive Association Conference in Hot Springs, Virginia. Joined by Jamie from Sesco, an HR expert, Hunt explores potential impacts of proposed wealth taxes and shares expert advice on how auto industry professionals can navigate current financial climates.

• Conference Insights: Hunt reflects on his productive collaboration with Jamie from Sesco during the confer...

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...

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 rate...

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: ...

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 diffe...

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 econom...

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, su...

In this episode, Hunt sits down with Jay Huh, a down-to-earth auto repair shop owner from North Carolina who's also a skilled public speaker, coach at Shop Fix, and even a pilot. Jay spills the beans on how he landed a speaking gig at the VISION Hi-Tech Training Expo with just a month's notice and why he's all in on making the auto repair industry better for everyone. His real talk and practical advice are not just about fixing car...

This week on Business by the Numbers, I want to talk shop and share insights that hit close to home for every garage owner out there. Today, I’m talking about an often overlooked aspect of your business - the true cost of inaction. Not just the dollars and cents you count every day, but the opportunities you might be missing out on.

• The Hidden Expenses: The not-so-obvious costs tied to decision-making in your shop. From choosing ...

In this episode, we dive deep into the world of mortgages with Pat McCormick, a seasoned expert from McCormick Mortgage Services.

As we explore the complexities of the current mortgage landscape, including fluctuating interest rates and the outlook for future homebuyers, Pat offers invaluable insights that could impact everyone from first-time buyers to seasoned investors.

Whether you're contemplating a new home purchase or seeking ...

As tax season 2024 unfolds, many entrepreneurs find themselves grappling with previous years' unpaid taxes, alongside the looming obligations for the current year. This episode gets into practical solutions for managing tax debt, with real-life advice and expert insights to navigate this challenging aspect of business ownership.

• Understanding Your Options with the IRS: Setting up a payment plan with the IRS is the most common reco...

In this week’s episode of Business by the Numbers, Hunt welcomes Mike Edge from Tread Partners, a fellow podcaster from the Gain Traction Podcast. The dialogue explores the symbiotic relationship between tire sales and auto repair services, emphasizing the strategic value of incorporating tire sales into auto repair shops' service offerings.

• Why Sell Tires in Auto Repair Shops? Discover why even repair shops traditionally not fo...

In this week’s episode of "Business by the Numbers," Hunt unpacks the key lessons from Bill Perkins' "Die With Zero." The discussion is not just about the book, but also about how to smartly plan your finances and life. He also talks about seeing retirement as more than just a financial goal. It's a chance to do what you love and enjoy the fruits of your labor.

• Rethinking Retirement Worries: We challenge the common fear of not h...

In this episode of "Business by the Numbers," Hunt talks about the essential process of setting and achieving business goals for 2024. Drawing from his teaching and podcasting background, he emphasizes the importance of a structured approach to establish clear, actionable goals. He underscores the necessity of living and operating deliberately, setting stretch goals, and adapting strategies based on last year's outcomes.

• Strategic...

In this episode of "Business by the Numbers," Hunt takes a look at the current state of government spending, the intricacies of the debt ceiling, and how this affects businesses and taxpayers.

• Current State of Government Spending and Debt Ceiling: The ongoing negotiations and potential outcomes if a spending deal isn't reached.

• Impact on Businesses and Taxpayers: Important fiscal policies like the Child Tax Credit, Employee Reten...

This week on Business by the Numbers, Hunt explores the complexities of charitable contributions in tax season:

• Understanding Charitable Contributions: The critical differences between cash and non-cash donations, and their respective impacts on tax returns.

• Navigating Deductions: Learn about what qualifies as a deductible charity, including the specifics of GoFundMe contributions and the importance of fair market value in non-ca...

In this year's first episode, join CPA and racing enthusiast Hunt Demarest as he explores the intersection of race car enthusiasm and savvy business tactics. We're tackling the complex world of race car expenses and their tax implications:

• New Year's Goals: Discover Hunt's unique blend of personal and professional resolutions.
• Racing vs. Accounting: A deep dive into the cost-effectiveness and passion behind racing and its compari...

In this year-end episode of 'Business by the Numbers,' Hunt gives a comprehensive overview of the latest financial updates and what to expect in 2024. Dive into topics like the Federal Reserve's decisions, ERTC updates, and new tax laws with insightful analysis. 

• Federal Reserve Insights: Discussion on the Federal Reserve's recent meeting and its implications for interest rates in 2024. 
• Inflation and Economic Trends: A...

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: Pract...