By Joe Marconi
Got your attention? Good!
Take it from me, a shop owner for 40 years; before you invest a dime on advertising, get your internal marketing in order....in other words...get your house in order.
No amount of advertising or marketing means more than what you do each and every day. And that is creating an amazing customer experience that gives your customers a compelling reason to return.
Make sure that each customer contact point creates a positive experience. The phone call, the drive up to your shop, the parking lot, the customer write-up, the upsell, the car delivery and every other point of contact with the customer.
These things I speak of means more than any money you spend on advertising. So, before you spend that dime, get your house in order. And remember, everyone in your shop is an important part of your marketing strategy!
By Mark Johnson
Do you ever worry that if the credit card you’re using to make business purchases isn’t in your business name that you won’t be allowed to take the deductions?
The good news is, that’s not the case—even if you have a separate entity!
This doesn’t mean you should mix personal and business expenses.
When you take a personal credit card and use it entirely for business expenses, you are essentially contributing this debt to your business.
You can use the card the same as if it was in the company’s name and deduct every business expense you purchase on it.
This can be a great strategy, just like with auto loans, when the company is new because it’s harder for new companies to get lines of credit without an established credit history.
So if you’ve got a personal credit card available for business expenses, feel free to use that card and benefit from all of the rewards!
To learn more please call 1954-324-0803 or book an appointment at https://calendly.com/markjohnsontaxplanner/45min
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Google search rolled out an update that now shows a website's favicon next to the search results on desktop, which started on mobile in May.
Interesting read: https://www.androidcentral.com/google-search-results-desktop-now-include-favicons
What you need to know
Google is making some changes to the way search results are shown on the desktop. Starting this week, search results will be displayed alongside icons for the websites they link to. The redesign was propagated to mobile devices last year.
I currently employ a mechanic and friend who has been with me for about 20 years. He was formerly a transmission rebuilder, but we have switched to mostly reman units and have no need for a rebuilder. His pay has remained the same despite his value declining. I am currently paying him roughly $100,000 a year. The problem i'm having is that his skill set is not near that pay level anymore. He does light diagnostic and basic managerial work, but I am not confident enough for him to run the shop for more than an hour. With the current state of the industry our numbers have gone down a bit over the last two years. While still being profitable, I can't help but think about the extra income that would be available by terminating this employee, I just dont know how to do it. Any advice on how to do this? I like him as a person and have known him a very long time, but I feel his is paid about twice as much as he is worth. Any help wouldbe greatly appreciated.
By Joe Marconi
Shop owners, you have a little less than two months before the end of the year. And that means it's time to start thinkning about your Tax Planning for 2019. Don't procrastinate on this. Meet with accountant. Review the year, review profit. Consider things such as major equipmenet purchases and other major investments you made in 2019. Look at bottom line profit and determine if you set aside enough cash to pay your taxes come April 15, 2020.
One thing, Cash is King, So, before you purhase any major equipment before the end of the year, listen to your accoutant, not the Tool Sales-person. In many cases, it's better to pay some tax and hold on to cash for a rainy day.
A little planning now will save you big time in 2020, and also help you sleep better!
Who likes tax deductible food? 🙋♂🙋♂ If you want to make sure you are deducting all of your business meals. Please read the entire article.