End of 2024 Update: Interest Rates, ERTC, BOI Reporting & More [E148]

Business By The Numbers

Thanks to our partners, NAPA TRACS and Promotive

End-of-year chaos is here, and Hunt’s been busy diving into webinars, questions, and updates on some big topics like the BOI report, interest rates, and the infamous Employee Retention Tax Credit (ERTC). In this episode, Hunt breaks down what’s happening, what you need to know, and what you should (or shouldn’t) do before heading into 2024.

Here’s What You’ll Learn in This Episode:

• BOI Report (Beneficial Ownership Information): This rule was meant to track down shady business practices, but now it’s tangled in legal challenges and paused—for now. Already filed? You’re good. Haven’t filed? You’ve got choices. Hunt explains the pros and cons of sitting tight or filing now.
• Interest Rates and the Economy: Rates are dropping, but what does that actually mean? Hunt explains why “good news is bad news” for the economy and what’s expected for borrowing costs, CDs, and savings rates in 2024.
• Key dates to watch for financial reports that could shake things up (spoiler alert: December 11th and 12th are big ones).
• ERTC: Still Alive, but Barely: The IRS is drowning in a mountain of unprocessed claims—think years of delays.
• What to do if you’re still waiting on your ERTC money and why you shouldn’t count your chickens (or your tax credit) just yet.
• Learn more about how to fill out the BOI Report here: https://youtu.be/5pP1b_IzbSY

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

Thanks to our partner, Promotive

It’s time to hire a superstar for your business; what a grind you have in front of you. 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: [e-mail]

Download a Copy of My Books Here:

• Wrenches to Write-Offs
• Your Perfect Shop

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