Here's where a lot of shops get into trouble. They'll tell themselves that their businesses are doing well, and all they want to do is "fine-tune" their operations rather than grow.
Owners of closely held businesses, including family owned and other small businesses, can now pass assets to heirs with minimal taxation thanks to a recent tax court ruling (Wandry v. Commissioner, U.S. Tax Court, March 26, 2012).
Not long ago, I had the opportunity to interview Hal Janke. He is recognized by the top business brokers in America as an auto industry expert, he has owned and operated auto repair businesses, he has spoken at many conventions, and in selling over two hundred shops; he has sold...
As with any compensation program, the first thing you'll need to do is conclude what you want to accomplish with any change in employee behavior. Where most shop owners get into trouble is they'll immediately say they want to see higher sales when it comes to their service advisors. So...
One of the biggest hurdles you'll face in running your own business is staying on top of your numerous obligations to federal, state and local tax agencies. Tax codes seem to be in a constant state of flux, making the Internal Revenue Code barely understandable to most people.
