The Handbook for Self-Rentals: Fair Market and Taxes [E149]
Thanks to our partners, NAPA TRACS and Promotive
In this episode of Business by the Numbers, Hunt dives into the critical topic of self-rentals for shop owners. Whether you’re already renting your property to your business or just considering it, Hunt explains why paying yourself rent the right way protects your assets, ensures compliance, and preserves your business’s value.
- Learn why legal protection through a rental LLC is non-negotiable.
- Discover how to calculate fair market rent and why it matters.
- Avoid common pitfalls that could devalue your business when it’s time to sell.
- The role of rental LLCs in protecting personal and business assets.
- How to set up leases and bank accounts for compliance.
- Why undervaluing your rent can cost you during business sales.
- Tax implications of self-rentals (spoiler: it’s not about saving money).
- How to determine fair market rent for your property.
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: podcast@paarmelis.com
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