Legal Advice From a CPA [E143] - Business By The Numbers
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About this episode
Thanks to our partner, NAPA TRACS In this episode, Hunt Demarest, CPA of Paar Melis and Associates, explores legal advice that CPAs often encounter, even though it's traditionally outside of their scope. From his personal experience with a rental property in Baltimore, Hunt dives into the importance of structuring real estate and business assets for liability protection. Here’s what you'll learn:Why CPAs sometimes need to give "legal advice" (and the inherent risks)How an LLC can provide a layer of legal protection for real estate investmentsKey steps to verify if your property is protected as intendedPractical advice on setting up single-member vs. multi-member LLCsCommon pitfalls when managing assets across multiple entitiesThanks to our partner, NAPA TRACS 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.comThanks to our partner, PromotiveIt’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 RepairVisit us Online: www.paarmelis.comEmail Hunt: podcast@paarmelis.comDownload a Copy of My Books Here:Wrenches to Write-OffsYour Perfect Shop The Aftermarket Radio Network: https://aftermarketradionetwork.com/Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. https://huntdemarest.captivate.fm/The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level. https://autorepairmarketing.captivate.fm/The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching. https://chriscotton.captivate.fm/Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size. https://craigoneill.captivate.fm/