article thumbnail

How to Simplify Tax Season for Your Auto Repair Shop This Year

AutoShopOwner

Separate Business and Personal Finances: This is crucial. Keep your business bank accounts and credit cards strictly for business transactions. Track your invoices, parts receipts, bank statements, credit card statements, and payroll records no matter how small the cost! labor, parts sales, diagnostics) and expenses (e.g.,

article thumbnail

Organizing The Financial Records for a Smooth Tax Filing

AutoShopOwner

Bank Statements Bank statements provide a record of all transactions that pass through your business bank accounts, including deposits, withdrawals, and electronic transfers. Remember to reconcile your bank statements regularly to ensure accuracy. Separating your business and personal finances is crucial.

Banking 130
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Deceived Fisker Ocean Owners Get an Offer They Can't Refuse From JPMorgan Chase

autoevolution

Specifically, the bank that financed Fisker Ocean purchases partnered with Rivian to buy back Fisker vehicles at a fair price. Fisker Ocean owners were left holding the bag when Fisker filed for bankruptcy, leaving them without support and out of options.

Banking 96
article thumbnail

Uncovering Hidden Costs: How Car Finance Agreements Affect Consumers

Auto Service World

Car ownership has long been a symbol of independence and mobility, but the way people finance their vehicles has evolved significantly. With more consumers opting for car finance agreements to afford their dream cars, issues related to transparency and fair lending practices have become a growing concern.

Finance 130
article thumbnail

AI Auto Loan Approval for Fast Vehicle Financing

AutoSuccess

Lendbuzz announced the launch of Express Contract, an AI Auto Loan Approval offering for dealers financing borrowers with thin to no credit history. All-Digital Process : Express Contract uses Plaid to verify income, expenditures, and debt directly from bank accounts, minimizing paperwork.

Finance 52
article thumbnail

Why Accessing Financing is More Challenging for Indie Dealers

Solera

As independent dealers hustling in a competitive market, you’ve probably faced the daunting challenge of getting solid financing. But fear not; we’re breaking down the why and offering game-changing strategies to help you level up your financing game. Your finance revolution starts now.

Finance 130
article thumbnail

PODCAST: Automotive Intelligence Award honoree Jonathan Banks

Auto Remarketing

As part of the inaugural Automotive Intelligence Awards, Cherokee Media Group is honoring a select group of outstanding auto industry analysts for their contribution to the knowledge base of the used-car retail, finance and remarketing industries. The full conversation can be found below.

Banking 52