How To Pay Yourself
“I pay myself $100,000 per year, plus all the cash I can take!” That was the response I got when, as a young shop owner, I asked an older, established owner how much he paid himself. I was curious about how much I should make and how I should pay myself. His answer didn’t help me.
Top 10 Reasons Shops Don’t Sell
Many auto service shop owners and tire dealers have focused their lives on growing and developing their businesses. When life happens – time for retirement, moving on to another career opportunity, family or health issues – a seller can find that a huge gap exists between what they had hoped the business was worth and what a buyer will actually pay for it.
How Much Should You Pay Yourself?
Owners earn compensation in two ways. First, the owner should earn a paycheck just like any other business employee for working in the business. Second, the owner should earn a return on their investment in the business.
Pre-Employment Tests And Assessments
When it comes to hiring techs and advisors, you need to have a really good system in place. Otherwise, you might hire the wrong people and will soon regret your decision. It’s a mistake we have all made. Although there is no foolproof way to ensure you are hiring the superstars you are looking for, we can learn from some of the most successful companies in America that utilize tests and assessments to better ensure their success.
Should You Be Open On Saturdays?
Before you make a decision to open up your shop on Saturdays, or to continue to remain open on Saturdays, here are five considerations that should not be overlooked.
U.S. House Committee Holds Hearing On DOL Overtime Rule
On June 9, the U.S. House Committee on Small Business held a hearing titled, “Damaging Repercussions: DOL’s Overtime Rule, Small Employers, and their Employees.”
The Payday Polka
Payday. While it is music to an employee’s ears, payday presents logistical and legal challenges for your company. One of the chief challenges is ensuring your employees are paid properly under the Fair Labor Standards Act (FLSA). Why does FLSA matter to you? Money. Improperly paying employees opens you up to potentially massive liability from a collective action.
Insider Tips About SBA/Bank Financing When Selling Your Shop
As a shop owner contemplating the sale of your business, understanding the elements of bank financing is key to ensuring you will maximize the sales price and minimize the process time.
A Sense Of Purpose: AAPEX Keynote Speaker Louis Efron Sees Connections Everywhere
While he may possess a myriad of titles, his role is clear-cut: As an award-winning human resources executive, entrepreneur, thought leader, writer, speaker, theatre director, producer and founder of World Child Cancer USA, AAPEX 2015 General Session Keynote Speaker Louis Efron found his passion and purpose in enlightening, inspiring and teaching others.
6 Tax Tips For Charitable Giving
If you make charitable donations and want to claim a tax deduction for your gifts, you must itemize your deductions. Following are some tips to guide your efforts at donating business gifts to charity.
