Advertise on podcast: Under the Hood CPA Podcast

Want to know what your auto repair shop is worth, whether you’re charging enough for labor, or where profits may be leaking? Kaizen CPAs + Advisors offers five free, easy-to-use tools for shop owners—just enter your numbers and get practical answers at kaizencpas.com. In this episode, Eric and Mike Allen discuss the realities of building, buying, and selling an automotive repair business. They cover succession planning, family ownership, private equity, buying out employees, and the financial mistakes that can create major problems. The conversation also dives into revenue vs. profit vs. cash, IRS issues, EINs, bookkeeping, entity structure, shop software, and tax planning. The big takeaway is simple: understanding the numbers is critical to making better business decisions. Timestamps: 00:00 Hard Truths on Ownership00:36 Show Intro and Whiskey Banter01:36 Ads and Paying the Bills02:22 Hockey and Home Teams03:35 Concert Tickets Sticker Shock04:40 Final Four Box Story06:25 Why Shops Fail to Scale09:58 Third Generation Shop Roots12:47 Buying In and Succession Plan15:09 Succession vs. Private Equity21:31 Deferred Comp for Managers22:55 Buying a Shop for Cash24:57 IRS Trouble and Asset Deals27:59 EINs and Legal Shields30:23 One EIN vs. Many Costs32:08 Selling Stores and Reorgs33:32 S Corp Basis Traps34:22 Podcast Ownership Structures36:33 AI and Better Bookkeeping37:47 Charts of Accounts and Peer Groups39:10 Coaching Groups and Profit Talk41:26 Tekmetric and QBO Debate43:54 Desktop Legacy and Old Systems46:54 Kaizen Pricing and Risk48:38 Aggressive but Legal Tax Planning49:59 Race Cars and Complacency52:18 Giving Value and Closing Thoughts

Want to know what your auto repair shop is worth, whether you’re charging enough for labor, or where profits may be leaking? Kaizen CPAs + Advisors offers five free, easy-to-use tools for shop owners—just enter your numbers and get practical answers at kaizencpas.com. In this episode of Under the Hood CPA, Eric sits down with financial planner John Chiappetta to discuss money, mindset, and building long term wealth. They cover emotional spending, tax write offs, saving to buy a shop, lifestyle creep, investing, Roth IRAs, and succession planning. John explains why small financial decisions can have a big impact over time and why having a plan only works when you follow it. Timestamps: 00:00 Small Cuts Add Up00:32 Show Intro and Guest00:58 John’s Career Journey02:39 Psychology of Money04:44 Taxes and Emotions08:09 Avoid Tax Driven Spending09:49 Slow Play Wealth11:06 Saving to Buy a Shop13:14 W2 Mindset vs. Owner14:51 Monthly Saving Targets17:42 Cut Daily Spending Leaks18:50 Investing and Compounding20:14 Tool Truck Trap21:13 Goals and Truth Tapes22:19 Wealth in Auto Repair23:21 Why Shops Attract Investors23:41 Saving Early to Buy In25:01 Lifestyle Creep Reality Check26:36 Rent vs. Buy Math29:47 Kids Roth IRA Strategy30:56 Succession Planning for Owners34:15 Budgeting on $120K Income35:13 Cut Convenience Spend39:05 Plan Before You Bootstrap41:15 Execution and Closing Thoughts

Want to know what your auto repair shop is worth, whether you’re charging enough for labor, or where profits may be leaking? Kaizen CPAs + Advisors offers five free, easy-to-use tools for shop owners—just enter your numbers and get practical answers at kaizencpas.com. In the first episode of Under the Hood CPA, Eric Joern sits down with Lucas Underwood and David Roman to expose the financial mistakes quietly putting auto repair shops at risk. They explain why clean-looking financial statements can hide missing cash, unpaid taxes, bad accounting, and even fraud or embezzlement. The conversation explores balance sheets, profit-and-loss statements, shop management systems, internal controls, and the dangers of giving one person too much financial authority. Lucas also reveals why talented technicians can end up earning less after opening their own shops—and why “hope” is never a business strategy. Whether you already own a shop or hope to open one, this episode will help you recognize the warning signs before they become expensive disasters. Timestamps:00:00 Someone Took the Money—and No One Sounded the Alarm00:32 Welcome to Under the Hood CPA01:13 Why “Hope” Is Not a Business Strategy03:47 Why “Ask Your CPA” Isn’t Enough05:18 The Warning Your Accountant May Never Give You07:16 Stop Waiting for Someone Else to Find the Problem08:59 Cash Flow vs. Profit: Why the Balance Sheet Matters10:00 Why QuickBooks Alone Can’t Run an Auto Repair Shop12:07 Good Data Is the Foundation of a Profitable Shop14:34 You Can Outsource Bookkeeping—but Not Understanding17:16 How to Tell Whether Your Books Are Wrong20:19 When Broken Financials Must Be Rebuilt23:32 Should You Share Financials With Your Team?26:23 Why Starting Your Own Shop Could Pay You Less30:07 How Bad Business Advice Destroys Financial Futures33:45 Tool Debt, Personal Finance, and Living Beyond Your Means37:01 What to Expect From Under the Hood CPA39:41 How Common Are Fraud and Embezzlement?43:12 The Payroll-Tax Debt You Can’t Escape45:09 Vendor and Loan Fraud Every Owner Should Understand47:47 Why Business Owners Must Set Financial Benchmarks49:23 Internal Controls: Who Can Move or Spend Your Money?54:15 What Successful Shop Owners Do Differently57:21 Pop the Hood on Your Business58:32 Closing

Under the Hood CPAs gives automotive repair shop owners practical insight into what’s really happening in their businesses—before problems show up in the bank account. Hosted by Eric Joern, partner at Kaizen CPAs and advisor to automotive repair shops, the show breaks down financials, tax strategy, productivity, hiring, succession, and wealth building. Each episode will help you build a more profitable shop, a more valuable business, and more options for your future. There’s no fluff and no jargon—just clear answers grounded in one question: What would I do if this were my shop? Subscribe and join us under the hood.