By Joe Marconi
We are almost into the 4th quarter of 2022, which means that you need to consider your 2022 tax return. Many shops are having a very good year, which means there may be more taxable income at your bottom line.
What do you do to plan for and minimize paying taxes, while still maintaining a cash reserve?
By Joe Marconi
It appears that the economy is not out of the woods yet, with inflation and the Feds looking to raise interest rates more.
While gas prices are down (at least for now), there are other economic factors in play here that may affect your customer's wallet.
So, is it time to tighten your belt a bit and squirrel away cash for a rainy day?
We are at the 2022 Napa Expo with reigning two-time world champion Ron Capps, who has just recently started his own Motorsports company. Find out what it’s like being both the driver and team owner. Listen to Ron explain the initial rush when his race car goes from 0-100mph in 7/10 of a second. He says It’s all about his team and the processes and procedures.
Established in 2021, Ron Capps Motorsports is a single-car NHRA Funny Car team owned and operated by reigning and two-time world champion Ron Capps. Headquartered in Brownsburg, Ind., the team will make its on-track debut in 2022 and will compete on the 22-race NHRA Camping World Drag Racing Series circuit thanks to the support of NAPA AUTO PARTS. Capps, who serves as both the owner and driver of his namesake operation, is the second-winningest Funny Car pilot in NHRA history, with 67 wins in the category and 68 overall (1 Top Fuel). The 2022 NHRA season marks Capps’ 28th year competing in the sport’s professional ranks.
Category: NHRA Funny Car Sponsor/car: NAPA AUTO PARTS Crew chief: Dean ‘Guido’ Antonelli, John Medlen Career best points finish: 1st (2016, 2021) Career event titles: 68 (Funny Car: 67; Top Fuel: 1) Career final rounds: 131 (Funny Car: 129; Top Fuel: 2) Career No. 1 qualifying positions: 29 Career best elapsed time: 3.837 secs, (Reading, 2019) Career best speed: 339.28 mph (Reading, 2019)
On the Internet: twitter.com/RonCapps28, facebook.com/RonCappsFC, Instagram.com/RonCapps28, NAPAonline.com, NHRA
Key Talking Points
What people forget- NAPA isn’t a chain or a franchise; it is owned by people in your neighborhood. His dad was a dealer technician- he was his dad's mechanical assistant Told team owner last September he wasn’t coming back- Announced the launch of his own team, Ron Capps Motorsports, in December 2021. The team, with Capps serving as owner-driver, made its NHRA debut in 2022 2022 marks Capps’ 28th season competing professionally in the NHRA (first event: Phoenix, 1995) One of 17 drivers in NHRA history to have claimed a win in both the Top Fuel and Funny Car categories “I was in my mom’s belly at my first race,” he says, adding his mom, Betty, met his dad, John, at a drag race. “I’ll never forget when I was at the Denver airport going up an escalator, and a woman at least 80 was coming down,” he recalls. “As she came closer, she started singing the ‘NAPA Know How’ song and was shaking her head as we do in the commercials “You can’t win the Kentucky Derby on a mule.” Intrigued by hearing the stories of NAPA Auto Care people and fans while attending events and networking Hired his world championship team to join him- the manager is critical and the trust to let the team members do what they need to do with processes and procedures. There is a team goal to be successful. Advice for son- get a basic business degree Behind the scenes before a race- sponsor event (like indoor go carting, top golf, dinners etc) 8 crew members take apart an engine and put it back together in 33 minutes. 11,000 horsepower 300 mph+ in a quarter mile 0 to 100mph in 7/10 of a second in 60 ft His wife is involved in the business- invoices, insurance, etc “Crash course to be an owner…but you can do it.”
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By Joe Marconi
In spite of gas prices nearing $5.00 a gallon, people are expected to take to the road in record numbers this July 4th holiday, according to the AAA and the Wall Street Journal. This is potentially good news for the automotive aftermarket.
Are you seeing an increase in your customers preparing for road trips?