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By Joe Marconi in Joe's BlogIt always amazes me when I hear about a technician who quits one repair shop to go work at another shop for less money. I know you have heard of this too, and you’ve probably asked yourself, “Can this be true? And Why?” The answer rests within the culture of the company. More specifically, the boss, manager, or a toxic work environment literally pushed the technician out the door.
While money and benefits tend to attract people to a company, it won’t keep them there. When a technician begins to look over the fence for greener grass, that is usually a sign that something is wrong within the workplace. It also means that his or her heart is probably already gone. If the issue is not resolved, no amount of money will keep that technician for the long term. The heart is always the first to leave. The last thing that leaves is the technician’s toolbox.
Shop owners: Focus more on employee retention than acquisition. This is not to say that you should not be constantly recruiting. You should. What it does means is that once you hire someone, your job isn’t over, that’s when it begins. Get to know your technicians. Build strong relationships. Have frequent one-on-ones. Engage in meaningful conversation. Find what truly motivates your technicians. You may be surprised that while money is a motivator, it’s usually not the prime motivator.
One last thing; the cost of technician turnover can be financially devastating. It also affects shop morale. Do all you can to create a workplace where technicians feel they are respected, recognized, and know that their work contributes to the overall success of the company. This will lead to improved morale and team spirit. Remember, when you see a technician’s toolbox rolling out of the bay on its way to another shop, the heart was most likely gone long before that.
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By nptrb
Welcome to 2025! As a new year begins, it’s time to start thinking about taxes.
For auto repair shop owners, understanding potential tax deductions is crucial for maximizing profitability.
This blog post will explore some common tax write-offs available to your business. It will help you keep more of your hard-earned money so you can achieve success!
Understanding Deductible Expenses
The IRS allows businesses to deduct “ordinary and necessary” expenses.
This includes costs that are common and helpful in the day-to-day operations of your auto repair shop.
Cost of Goods Sold (COGS)
This includes the direct costs associated with the parts you sell and install.
COGS covers everything from small items like spark plugs and brake pads to larger components such as engine parts and tires.
Accurate and detailed records of all purchases, including invoices and receipts, are essential when reporting these deductions.
It’s critical to properly value your inventory at the beginning and end of the year because this directly affects your COGS and, consequently, your taxable income.
Labor Costs
Labor costs are another substantial deduction that you will want to claim.
Labor costs encompass:
Employee wages Employee salaries Employee benefits When examining your labor costs, be sure to report the gross wages paid to everyone, from mechanics and service writers to administrative staff. These are the people who keep your shop running like a well-oiled machine.
The employer-paid portions of Social Security, Medicare, and unemployment taxes are also deductible, along with various employee benefits like health insurance and retirement plan contributions.
Operational Expenses
Operational expenses cover the day-to-day costs of running your business.
This category includes:
Rent for your shop space (if you lease) Utilities such as electricity, water, and gas The maintenance and repair fees of your shop equipment and facilities Insurance for business liability, property, and company vehicles Expenses related to promoting your business, such as online advertising, print ads, and local sponsorships, fall under deductible advertising and marketing costs, which are also operational expenses.
You can even deduct the fees paid to professionals and service providers such as accountants, lawyers, and other consultants for business-related services.
Depreciation
Depreciation is often an overlooked deductible, but it is important in maximizing your profit, nonetheless, because it allows you to deduct the cost of long-term assets over their useful life.
Depreciation deductions apply to equipment such as lifts, diagnostic tools, and other essential items used in your shop.
If you have company vehicles that are used solely for business purposes, such as a tow truck, you can also deduct their depreciation.
Other Deductions
COGS, labor costs, operational expenses, and depreciation are the core categories, but that doesn’t mean other dedications don’t apply.
Here are a few more auto shop costs to consider claiming:
Employee training Continuing education Business travel for industry conferences or training Unpaid invoices from customers (you may be able to deduct the unpaid amount as a bad debt!)
And always remember. . .
Meticulous record-keeping is absolutely essential for substantiating your deductions.
Keep all invoices, receipts, and other relevant documentation organized. An online accounting system such as Quickbooks Online can help!
Tax laws can be complex, so consulting with a professional is highly recommended. They can provide personalized advice and ensure you’re taking advantage of all applicable deductions.
Remember: tax laws can change, so stay informed about any updates that may affect your business so you can stay on the right track to growth!
Proper planning and education will help you significantly reduce your tax liability and improve your bottom line year after year!
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By carmcapriotto
Thanks to our Partners, NAPA Auto Care, NAPA TRACS and Automotive Management Network Discover Nissens' innovative electric components for new energy vehicles, designed to enhance fuel efficiency and reduce emissions. Jeff Hansen, President of North America at Nissens, also discusses their recent strategic partnership with Standard Motor Products, which broadens their global reach and expands their product portfolio. Matt Fanslow, Riverside Automotive, Red Wing, MN, Diagnosing the Aftermarket A to Z Podcast Nissens: https://nissens.com/ Show Notes Watch Full Video Episode Introduction to the AAPEX 2024 (00:00:00) Importance of Aftermarket Products (00:01:29) Electrification in Automotive Components (00:02:39) Improving Emissions with Water Pumps (00:03:07) Future of Automotive Aftermarket (00:04:18) Collaboration with Standard Motor Products (00:09:31) Nissan's Historical Background (00:10:38) New Energy Vehicle Technology (00:11:09)
Thanks to our Partners, NAPA Auto Care, NAPA TRACS and Automotive Management Network 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 NAPA TRACS will move your shop into the SMS fast lane with onsite training and six days a week of support and local representation. Find NAPA TRACS on the Web at http://napatracs.com/ Get ready to grow your business with the Automotive Management Network: Find on the Web at http://AftermarketManagementNetwork.com for information that can help you move your business ahead and for the free and informative http://LaborRateTracker.com Connect with the Podcast: -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Virtual Toastmasters Club: https://remarkableresults.biz/toastmasters -Join Our Private Facebook Community: https://www.facebook.com/groups/1734687266778976 -Subscribe on YouTube: https://www.youtube.com/carmcapriotto -Follow on LinkedIn: https://www.linkedin.com/in/carmcapriotto/ -Follow on Instagram: https://www.instagram.com/remarkableresultsradiopodcast/ -Follow on Twitter: https://twitter.com/RResultsBiz -Visit the Website: https://remarkableresults.biz/ -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 -Special episode collections: https://remarkableresults.biz/collections The Aftermarket Radio Network: https://aftermarketradionetwork.com/ Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/ Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/ Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. https://huntdemarest.captivate.fm/ The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level. https://autorepairmarketing.captivate.fm/ The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching. https://chriscotton.captivate.fm/ Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size. https://craigoneill.captivate.fm/ Click to go to the Podcast on Remarkable Results Radio
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By carmcapriotto
What impression does your business leave behind when you’re not there? In this episode, we tackle a vital question every shop owner should consider: What do you look like when you're not there? From the way your team interacts with customers to the legacy you leave for your family, this discussion will inspire you to reflect on your leadership and the culture you've built.
We'll explore how to lead by example, empower your team, and ensure your presence is felt even in your absence. Whether it’s in your shop, at home, or in your community, the impressions you leave behind tell a powerful story.
Don't miss this thought-provoking episode—listen now and start shaping the legacy you want to leave!
Thank you to our friends at RepairPal for providing you this episode. RepairPal’s Certified Network of shops are trusted by millions of customers each month. Learn more at RepairPal.com/shops
Are you ready to convert clients to members? App Fueled specializes in creating custom apps tailored specifically for professional auto repair businesses. Visit Appfueled.com to get started today. Keep your shop top of mind on the mobile device they love.
Lagniappe (Books, Links, Other Podcasts, etc)
Square Body Dave - https://www.youtube.com/@squarebodydave
Show Notes with Timestamps
How To Get In Touch
Group - Auto Repair Marketing Mastermind
Website - shopmarketingpros.com
Facebook - facebook.com/shopmarketingpros
Get the Book - shopmarketingpros.com/book
Instagram - @shopmarketingpros
Questions/Ideas - [email protected]
Click to go to the Podcast on Remarkable Results Radio
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By carmcapriotto
Thanks to our Partner, NAPA Auto Care Explore the rich legacy of Standard Motor Products, a family-owned business established in 1919, and its ongoing commitment to innovation in the automotive industry. Eric Sills, President of Standard Motor Products, shares insights into the company’s dedication to quality, technology, and education, as well as their latest acquisition of Nissens and vision for future global advancements. Eric Sills, President/CEO, Standard Motor Products Show Notes Watch Full Video Episode First Impressions of Standard Motor Products (00:00:20) Customer Awareness (00:00:57) EV and Hybrid Readiness (00:01:37) Legacy of Standard Motor Products (00:01:49) Eric's Family Legacy (00:02:21) Adapting to Automotive Technology (00:03:30) Research and Development Strategies (00:03:53) Vehicle Control Division (00:05:18) Temperature Control Innovations (00:07:27) Recent Acquisition Overview (00:08:25) Global Presence and Strategy (00:12:16) Education vs. Training (00:14:12) Importance of Specialized Knowledge (00:15:10) Training and Education in the Industry (00:16:13) ADAS Calibration Issues (00:16:54) Consolidation in the Industry (00:19:09) The Auto Care Industry (00:20:37) Family Business Dynamics (00:21:02) Succession Planning Insights (00:21:52)
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 Connect with the Podcast: -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Virtual Toastmasters Club: https://remarkableresults.biz/toastmasters -Join Our Private Facebook Community: https://www.facebook.com/groups/1734687266778976 -Subscribe on YouTube: https://www.youtube.com/carmcapriotto -Follow on LinkedIn: https://www.linkedin.com/in/carmcapriotto/ -Follow on Instagram: https://www.instagram.com/remarkableresultsradiopodcast/ -Follow on Twitter: https://twitter.com/RResultsBiz -Visit the Website: https://remarkableresults.biz/ -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 -Special episode collections: https://remarkableresults.biz/collections The Aftermarket Radio Network: https://aftermarketradionetwork.com/ Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/ Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/ Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. https://huntdemarest.captivate.fm/ The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level. https://autorepairmarketing.captivate.fm/ The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching. https://chriscotton.captivate.fm/ Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size. https://craigoneill.captivate.fm/ Click to go to the Podcast on Remarkable Results Radio
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By Changing The Industry
Episode 196 - Navigating Tax Deductions and Investments With Derick Van Ness of Big Life Financial
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