Tax Season Recap and Tips [E167] - Business By The Numbers

Thanks to our partners, NAPA TRACS and PromotiveApril 15th is behind us — but your tax strategy shouldn’t stop there. In this episode, Hunt Demarest, CPA at Paar Melis, shares exactly what auto repair shop owners need to be doing based on how their tax season wrapped up. Whether you filed early, waited until the last minute, or punted with an extension, Hunt helps you take the right steps now to avoid penalties, reduce next year’s bill, and keep your shop’s finances dialed in. In this episode, you’ll learn:

• Why filing an extension isn’t always a problem — but failing to plan ahead is
• The costly myth about tax extensions that trips up even seasoned shop owners
• What to do now if you owed a big tax bill or got a refund
• The IRS’s rules on estimated taxes and why ignoring them leads to penalties
• Smart financial habits every shop owner should adopt after tax season ends

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.comThanks to our partner, PromotiveIt’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 RepairVisit us Online: www.paarmelis.comEmail Hunt: [e-mail] Paar Melis @ 301-307-5413Download a Copy of My Books Here:

• Wrenches to Write-Offs
• Your Perfect Shop 

The Aftermarket Radio Network: https://aftermarketradionetwork.com/Remarkable Results Radio Podcast with Carm Capriotto https://remarkableresults.biz/