{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Under the Hood CPA Podcast","title":"The Financial Red Flags That Could Cost Your Shop Millions | Lucas Underwood & David Roman - Ep 1","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/5f9c2f6a\"></iframe>","width":"100%","height":180,"duration":3517,"description":"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.\nTimestamps:\n00:00 Someone Took the Money—and No One Sounded the Alarm\n00:32 Welcome to Under the Hood CPA\n01:13 Why “Hope” Is Not a Business Strategy\n03:47 Why “Ask Your CPA” Isn’t Enough\n05:18 The Warning Your Accountant May Never Give You\n07:16 Stop Waiting for Someone Else to Find the Problem\n08:59 Cash Flow vs. Profit: Why the Balance Sheet Matters\n10:00 Why QuickBooks Alone Can’t Run an Auto Repair Shop\n12:07 Good Data Is the Foundation of a Profitable Shop\n14:34 You Can Outsource Bookkeeping—but Not Understanding\n17:16 How to Tell Whether Your Books Are Wrong\n20:19 When Broken Financials Must Be Rebuilt\n23:32 Should You Share Financials With Your Team?\n26:23 Why Starting Your Own Shop Could Pay You Less\n30:07 How Bad Business Advice Destroys Financial Futures\n33:45 Tool Debt, Personal Finance, and Living Beyond Your Means\n37:01 What to Expect From Under the Hood CPA\n39:41 How Common Are Fraud and Embezzlement?\n43:12 The Payroll-Tax Debt You Can’t Escape\n45:09 Vendor and Loan Fraud Every Owner Should Understand\n47:47 Why Business Owners Must Set Financial Benchmarks\n49:23 Internal Controls: Who Can Move or Spend Your Money?\n54:15 What Successful Shop Owners Do Differently\n57:21 Pop the...","thumbnail_url":"https://img.transistorcdn.com/R3TvMwDZ4hmPwWPKYXuSZ8dGLpWWs1vISSLZjiyyI14/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS81MDI4/YzQ5N2FhNzMyYmQw/NDUyZmM0Nzc2OWFh/YjAyZi5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}