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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.,

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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.

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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.

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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.

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From the Magazine: Headwinds awaiting your shop

Auto Service World

However, by the second quarter, disinflationary trends began to emerge as the Bank of Canada maintained tight monetary policy to combat the lingering effects of high inflation. While OEM sales showed signs of recovery, consumers grappled with the dual challenges of elevated vehicle prices stemming from inflation and increased borrowing costs.

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Experian Report: Consumers Leasing EVs at a High Rate

AutoSuccess

With electric vehicles (EVs) continuing to become a viable option for prospective vehicle shoppers, one trend stands out: EV buyers opting to lease. By comparison, EVs only made up 2.11% of new vehicle leases in Q4 2020. Part of the shift could be attributed to lower interest rates and average monthly payments for new vehicles.

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From the Magazine: Navigating a turbulent year ahead

Auto Service World

However, by the second quarter, disinflationary trends began to emerge as the Bank of Canada maintained tight monetary policy to combat the lingering effects of high inflation. While OEM sales showed signs of recovery, consumers grappled with the dual challenges of elevated vehicle prices stemming from inflation and increased borrowing costs.

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