Equipment required for start up?
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mccannable, in Auto Repair Shop Management Help? Start Here
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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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By Joe Marconi
The mild fall appears to have caused a slow down for many shops. We have seen this before. But, winter tempertures are here, and the threat of snow will boost repair shops.
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By Joe Marconi
I want to wish everyone a Happy New Year and the very best in 2017!
I also want to take this time to thank all of our amazing members for making AutoShopOwner.com the number 1 go-to auto shop business forums website on the planet!
Joe Marconi
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By Mark Johnson
Have you ever done a Tax Planning exercise? Do you know the difference between Tax Preparation and Tax Planning?
Tax Preparation is the backward-looking process of using your income to produce a tax return for the IRS. It is done after the fact and its main purpose is compliance.
Tax planning however, is a strategic and proactive look at your business and personal finances in an effort to Legally minimize your tax exposure while ensuring that you are in compliance with the Internal Revenue Code (IRC).
Not knowing the difference between the two can cost you thousands of dollars in unnecessary over payments, fees, penalties, interest charges or even jail time.
I am a Tax Strategist who helps Auto Shop owners to reduce taxes by as much as 50% and eliminate financial risks.
To learn more please free to reach out.
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By JustTheBest
USA Today article (Friday September 27, 2019 by Nathan Borney - USA Today) shows that “the average age of cars and light trucks on U.S. roads reached an all time high of 11.8 years in 2018.”
The article goes on to claim... “By 2023, there will be about 84 million vehicles on the road that are at least 16 years old, reflecting a 240% increase from 35 million in 2002, according to IHS.”
Are you getting your share?
There’s only 90 days left in 2019 and the market is changing. Sorry, it HAS changed. Are you ready? Do you have your plans laid out for marketing your shop in 2020?
Auto Service Marketing - Fix Your Car Count FAST!
Hope this helps!
Matthew
"The Car Count FIxer"
P.S.: Join me on YouTube at Car Count Hackers! FREE Help to grow your Car Count, Income and Profit!
P.P.S.: Like and Follow Car Count Hackers on Facebook
P.P.P.S.: Have you registered in my FREE Training? "How to Double Your Car Count in 89 Days"
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