Internal Revenue Service shrinks the Vehicle list that Qualify for EV Tax Credits
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Have you checked out Joe's Latest Blog?
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By Joe Marconi in Joe's Blog1 commentI am going to borrow a quote from billionaire, Warren Buffet, “The best investment you can make is in yourself,” This statement, while simplistic, speaks volumes. A shop owner is much more than a boss, a shop owner is a leader. And leaders are solely responsible for the success of their team. This means that you must work hard and commit to a life of continuous learning and improvement. It also means that if the team fails, a leader must always blame himself or herself for that failure and find ways to improve.
For your business to flourish, you must invest your time and energy in understanding what your role is in your company. It also means that you must be committed to continually improving your level of competence. This does not mean that every task is your responsibility. However, it does mean that the buck stops with you. If your business is not where it needs to be, or you are looking for increased growth, then it is your obligation to do the hard work and set goals, have the vision, perform the research, and develop the plan to achieve your overall objectives.
When you invest in yourself to become the best leader and the best businessperson you can be, others around you will feed off your energy and your passion. This sends a strong message to everyone on your team that you have what it takes to bring the company to the next level.
One last thing, another obligation to your company is assembling the right team of people around you. Once you have the right people, you need to invest in them too. Find what truly motivates them, not what you believe inspires them. Be a coach to your employees and always strive to bring out the best in them. Be strong with your convictions and expectations, build strong relationships with your employees, and don’t be afraid of admitting when you drop the ball.
While Warren Buffet is best known for making billions of dollars with his investment strategies, I want to believe that this quote has its basis in something that money cannot buy.
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By carmcapriotto
The ERTC (Employee Retention Tax Credit) is something Hunt has talked about in the past (See Episode 10 and 33) but this week, he wants to discuss the current status of the IRS with regard to auditing and follow-up on businesses that have claimed this credit, such as:
IRS is upping their fines if you don't disclose all funds, even the legit ones. IRS amnesty programs: From a simple "Hey, I've got this account" to "I owe you, let's settle." The IRS usually has three years to ask for back taxes, but some exceptions exist. If you've taken the ERTC money, there's a two-year period where the IRS might have you on their radar. Bigger amounts = more attention. The ERTC program's end is in sight, with some parts set to phase out soon. Want more details? Click here: https://www.irs.gov/newsroom/to-protect-taxpayers-from-scams-irs-orders-immediate-stop-to-new-employee-retention-credit-processing-amid-surge-of-questionable-claims-concerns-from-tax-pros
Thanks to our partners, NAPA TRACS and Promotive
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.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. 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 Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
Click to go to the Podcast on Remarkable Results Radio
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By Transmission Repair
Premium Member Content
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By carmcapriotto
This week, dive into proactive tax management. Whether you're wrapping up extended returns from 2022 or gearing up for the next tax year, now's the time to strategize. Hunt unpacks essential insights:
• Tax Extensions: Can they shield you from audits?
• Working with Accountants: Understand reasonable expectations and collaborate effectively to plan your taxes for the coming year.
• DIY Tax Forecasting: Tools to craft a ballpark tax estimate for next year, plus ways to refine those figures.
• Estimated Tax Payments: Not mandatory, but Hunt reveals why they're a wise move.
• Tax Myths Demystified: Learn the facts to minimize tax liabilities and debunk some fairly common misconceptions.
Thanks to our partners, NAPA TRACS and Promotive
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.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. 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 Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
Click to go to the Podcast on Remarkable Results Radio
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By Joe Marconi
Premium Member Content
This content is hidden to guests, one of the benefits of a paid membership. Please login or register to view this content.
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By carmcapriotto
Derek Kaufman, Managing Partner at Schwarz Advisors, discusses the transition to electric vehicles (EVs) and the potential for alternative fuels to coexist with EVs. He explores the recent European Union's mandate to eliminate internal combustion engines by 2035 and the possibility of allowing fuels to keep ICE cars alive. The conversation then shifts to e-fuels, their production process, and the challenges of scaling up renewable electricity for their production. Both Derek and Carm emphasize the importance of finding a balanced approach that considers different solutions to address climate change.
Derek Kaufman, Managing Partner, Schwartz Advisors, President of C3 Network. Listen to Derek’s previous episodes HERE.
Show Notes
The European Union's Mandate and E-Fuels (00:01:19) Discussion about the European Union's mandate to eliminate the sale of internal combustion engines by 2035 and the potential of e-fuels to coexist with electric vehicles. Introduction to E-Fuels (00:02:39) Explanation of what e-fuels are, how they are derived, and their potential to act as a carbon-neutral replacement for gasoline. Challenges and Potential of E-Fuels (00:03:55) Discussion about the complications and costs associated with e-fuels, the need for renewable electricity to produce them, and the efforts to ramp up production through the E-Fuel Alliance. The transition to battery electric vehicles (00:08:50) Discussion on the increasing power demand for battery electric cars by 2050 and the need to transition the power grid to support electric vehicle usage. The potential for alternative fuels (00:10:05) Exploration of the role of low emission or carbon neutral fuels in coexisting with battery electric vehicles, particularly in heavy trucks and industrial equipment. The complementing technologies of batteries and internal combustion engines (00:12:00) Explanation of how batteries and internal combustion engines can work together in different applications, highlighting the importance of both technologies in the future of transportation. The transition to AI in automotive service (00:18:13) Discussion on the potential of AI and machine learning to assist in vehicle service procedures and the importance of having the right talent and training. The importance of human interface in automation (00:20:00) Comparison of two companies' customer service experiences during a power outage, highlighting the value of a personal connection and efficient communication. The future of AI in automotive service (00:22:21) Exploration of the possibility of combining AI solutions with human expertise to enhance customer service and improve efficiency in auto repair shops.
Thanks to our Partner, NAPA Auto Care
Learn more about NAPA Auto Care and the benefits of being part of the NAPA family by visiting https://www.napaonline.com/en/auto-care
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-Join our Insider List: https://remarkableresults.biz/insider
-All books mentioned on our podcasts: https://remarkableresults.biz/books
-Our Classroom page for personal or team learning: https://remarkableresults.biz/classroom
-Buy Me a Coffee: https://www.buymeacoffee.com/carm
-The Aftermarket Radio Network: https://aftermarketradionetwork.com
-Special episode collections: https://remarkableresults.biz/collections
Click to go to the Podcast on Remarkable Results Radio
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