#205 - Maximize Your Tax Season w Taxmax

You are listening to the Independent Dealer.

Podcast with hosts Luke Godwin and Jeff Watson.

Hello, and welcome to the Independent Dealer Podcast brought to you by Buckeye Dealership Consulting. We are going to be talking about tax time, guys. You know, our great friends at Tax Max are a very loyal sponsor of the podcast, and we push the program, and I will tell you why. We not only use the program, we push it and we have them sponsor us. And it just makes sense for dealers. It just makes sense, guys. I don't know any other way to say it. The money is out there. If you're not filing people's taxes in your dealership, you are. You're just. You're leaving so much on the table. Bill, thank you for joining us today. Glad to have you. Say hello to everybody.

Thanks for having me here. We're excited. This is our 27th tax season.

It's that time of the year. Oh, buddy.

Yep. We're printing checks. Money's moving right now.

Oh, man.

Yeah, yeah, Bill, let's talk about that. I mean, this is going to air on the 13th of January. So, guys, it's mid January. You're listening to this right now. If you jump on taxmax.com you hit sign up while you listen to this episode or you're watching it on YouTube, you can be fully signed up with Tax Max. Of course, you're going to use the code podcast20 to get your discount. But, Bill, from that point of them jumping on and signing up, how long until they can actually be filing returns in their dealership?

15 minutes. They'll get their dealership ID and password within 15 minutes. One thing I strongly recommend is they enter a credit card, because if they enter a credit card, they'll actually ship their materials out via FedEx ground. So their checks will be in there. And their debit cards, they actually give you a bunch of cards as well if you don't want to check. And they should arrive within three to five days. So let's say you sign up today, you do a tax return today. The money's approved in two hours. You just have to wait a couple days for your checks and cards to get there.

Yeah. So I've got all mine right here. I've got my little envelope full of checks. Every single one of these is going to be printed onto within the next couple of weeks.

Absolutely. I don't have. I have.

I have them. I just didn't bring my props with me.

Yeah.

So.

So, yes, you can file. By the end of our episode, you'll be on filing and it might be a day or two before you can actually print a check. If you do a refund advance, it would take you a couple of days, but realistically, within a couple of days, you are fully printing money at your dealership.

So. So I'm gonna play. I'm gonna play the idiot here because, you know, Jeff usually plays it. I'm gonna take over today. Jeff knows a lot more about Tax Max than I do. So how in the world, like, the IRS isn't even open. How can I do somebody's taxes and all that right now, Bill, how does that work?

Actually, you bring up a good point. So the IRS actually announced they're going to open on January 24th. So that's three weeks earlier than last year. We have partnered with a bank where it will actually advance the money before the IRS opens. And we literally, right now, the Turnaround time is 90 minutes. So you submit a file in 90 minutes. We have dealers getting up to $6,000 right now. There's your down payment. Whether you're retailer buy here, pay here, you're moving the car. The IRS actually reached out to us, and we are actually going to. They're going to start testing with our files a week from. Actually today's Wednesday broadcast, Thursday, I think It's Tuesday, the 18th, that we will actually. The IRS will be actually picking up our files live.

Wow.

Before they open.

So that puts people who are dealers that are signed up. Puts them ahead. A week ahead of the game, actually. Right.

A week ahead. As well as. Once again, today's January 12th. They can get a refund advance today before the IRS even opens. Because of our partnership that we have with our bank. And as well as the partnership with the irs, they're going to take our files a week early. So our dealers definitely have advantage over TurboTax and just the. Any place out there in the United States.

So, Bill, if, if. Let's walk through this. If I don't sign up and it's January 24th and IRS just starts accepting these, you know, these returns, and I wait on IRS to send my customer a check. When would my customer maybe get that check?

Probably end of February, beginning of March. And it's funny, what do I say to those dealers? Okay, let's say you have, you know, you don't use Tax Max or even a different tax provider. It doesn't have to be Tax Max. So let's say, you know, you use it. You don't use any partnership with any tax provider at all. If you're expecting 50 special tax season payments. Would you rather that money print in your printer or all over your city? Now you have to chase all that money down.

Yeah, we've been chasing it. It's not as fun as just getting it in your computer, that's for sure.

It is not. And you know, history shows these people will spend their entire refund in 24 to 48 hours. So let's say they get their taxes released by the IRS on March the first. All right, I gotta go down to my local dealership and make that payment. Well, you know what? I owe back rent. I owe my cell phone bill, all this stuff. I borrowed money for Christmas. Now Walmart has a sale and they buy the big screen tv. By the time they get to the dealership, the money's gone.

Oh, absolutely. It's absolutely gone. So, Bill, I think the real key is the refund advance. And it's something that we really started taking advantage of last year is we apply for that with every single customer. And I know there's a little bit of a fee and we're even willing to eat that fee because you get to print that check today. We're not waiting until the end of February to print checks. So we're actually getting that cash now. Talk to us, that refund advance, is it recourse to the customer if something happens to their tax returns and it gets sniped or intercepted by the irs?

No, that's a great point. So once that money is approved by our bank, there's no recourse to the customer and there's no recourse to the dealer. So that money is guaranteed. We've done over a million deals and literally not one check has been pulled back or nothing. That money is 100% as good as cash.

Yeah. So if you are buy here, pay here, it's a no brainer. Right. Because those refund advances can go up to six grand, I think. Is that still the max?

Yeah. And let me intervene with this. To one of our best dealers, what they do, and Jeff, I hope you're doing the same thing. When you get a refund advance, that means the bank has done their due diligence and that there's a 99% chance that the remainder of the refunds going back to the dealer. So what our best dealers do is say, I'm going to take that $2,000 and I'm still going to schedule a special tax season payment for the end of February because I know the rest is still coming to me. So if they get a $6,000 refund, advance, the dealer takes two or three. The customer still walks away with three, but then they get another thousand or fifteen hundred on February 28th or March.

So you're saying share that refund advance back with the customer so that they can have a little bit of incentive excitement. Yeah, that makes a lot of sense because at that point, you know, there's a really, really good chance the rest of that money's coming. You're not really. You're just gonna.

It's 99% coming. That money's coming.

Yes. Yeah. So my question is, and I think dealers that are ret. Subprime probably need to check with their lenders on this. Is the refund advance the same as a cash down payment, or would that void the covenants of certain lenders saying, hey, this wasn't actual cash that they had. This was a loan quote unquote. And you can't use a loan for your down payment.

So the thing is, there's no recourse. I don't know if it's technically a loan anymore. And I know Westlake Financial for sure accepts tax max refund advances. As far as. Because it's no different. Right. If they get a refund advance from H and R Block, you wouldn't think, right? Yeah, they go to bank, they cash it. But. But it doesn't hurt to always check.

Yeah, you got people walking in with their H and R Block cards pretty soon too, with their refund advances. So. So definitely, whether you're buy here, pay here, or retail, it's. It's a no brainer. But bill, tell us, if I get signed up right now, 15 minutes, I'm filing tax returns, Is it going to take me 15 hours to figure out how to file a tax return? Do I have to wait for a webinar and do this, that or the other or. I think so many dealers, they think, well, my salesman can barely fill out an application. How am I going to have them do in tax returns too?

We do have daily webinars, we do have training videos. We have our new product, it's our VIP product. And I don't know if you're using this or not where basically it's a texting platform. So all you do is send the. Through our platform. You enter their social, their date of birth, their email address or cell phone number, and then you hit submit. The customer will get a text sent right to their phone within 10 seconds. And then the customer is now entering all the information into our system instead of the dealer and they take pictures of their W2s with their phone. That all goes to us here at Tax Max. We go ahead and complete the return. We then text the customer back, they select how they want their money, and then they e sign with their finger. And then when the refund advance is approved in that 90 minutes to two hours, the money goes to the dealer. That's a.

That's a game changer. I'm a technological idiot. Okay? I'm a down.

I am, too.

And I've done. I've done this before, so. Jeff, it's. It's not that hard. You are the. You are the tech whiz here, I'm sure.

No, no, no, no. But I want. Bill, I want you to explain to people that even if you're not using the VIP program, which we don't use, we have it. We don't really use it. And the reason we don't is because we do find that when we're pre filing doing fourth quarter, we're really kind of holding the customer's hands and kind of walking them through it and making them feel more reassured. So I don't really want to put that back on them and say, hey, you're going to get a text message. I expect you to follow through with all your personal documents. I just. So we keep it here. I've done 23 fourth quarter filings, but I have only done. I think we've done seven or eight deferred downs to the tune of like, I think we're at like 23 grand. So pretty substantial. A couple of pretty substantial ones from previous customers. But what I wanted to drive at is it's. It's my guys putting the info in, you know, and especially once we have a. Once we have a reoccurring customer, we have people that just know, hey, I filed before seasons last year and I got a car. I'm going to do it again this year and either upgrade or get a second vehicle. So when you think about filing people's taxes, it's not that hard. Every so often, we have a weird situation and we'll call Tax Max. They pick up on the first ring. They help us walk us through it. But for the most part, our customers have one, maybe two W2s. You know, it's not. It's not a complicated filing.

Jeff. I got a quick question for Jeff. You've done 23 fourth quarter. You said that, right? 23.

We've done. We've done. We put 23 people into the system. Yeah.

Okay. So you only did eight deals. Those other 15 people are you waiting on the right car for them or are they going to pay off their car? What's the deal there?

It's a combination of all. All the above. It's a combination of, you know, kind of seeing what they would get. And I think a handful of these people didn't have a large enough return to do a fourth quarter deferment. You know, if these are single people or if these are people that didn't, you know, they don't come up with six to $7,000 in a refund, there's really not enough meat on the bone to do a deferment because I'll only do 30%, 20 to 30% of their estimated return as a deferred down, unless they're a unique situation. So anyways, yeah, a lot of these people are people that, hey, they either didn't want to pull the trigger at the time or couldn't pull the trigger. I got you.

Sorry about that.

And one question I have for you, Jeff. You do the estimator after you approve them or before you approve them for the car?

Yeah, it's in conjunction. It's basically, hey, you know, we got you approved. We like you. You've got 500 or 1,000 down. Now, this is the car I can get you into. You really, really like that car. Here's how we're going to get you there.

You know, which is good because you don't want to use the tax money as a form of getting someone approved because that defeats the whole purpose.

Yes. And here's the problem is I will admit that. Yes. So like, we had a customer come in here and they traded in a car they did a tax program on last year. The only way they even looked at that car that they bought was because we were getting another $4,500 from their taxes. So, yes, I would have never rolled a customer a year into a loan into a huge upgrade, but it was the tax program that made it happen. So for sure, every so often I fudge.

Well, down payment does help approve some people. I know that that's argued across the board. And buy here, pay here. I'm one that believes that a certain amount of down payment makes a deal better. You know, Chuck, argue that other side.

But anyway, I guess one misconception with our program is that people think it's a no money down promotion where I'm not taking any money down, I'm going to take a $4,000 tax payment later. That's definitely 100% not the case.

Yeah, yeah, I get that for sure.

And it's pretty.

You still got to do good underwriting.

It's pretty easy to sell them on. Hey, I got to at least collect tax, title, license, you know, and that's. That's the key is it's. It's. It's basically helping people get a slightly nicer car, a next level up at the same payment. So, Bill, let's talk about the big myths out there, right? And I think these have been debunked by most of the dealers in most of the groups. Oh, is there even going to be a tax season? Everybody got their money with the child tax credit and the unemployment and blah, blah, blah, blah, blah. You're the man on the ground. You're actually filing taxes for people today? Because I know all my employees have their W2s. They're all filing their taxes. You're filing right now, correct?

Yeah, yeah, we're filing right now.

What are you seeing?

So we have a tax return that came over literally last night. I kind of grade some of this out.

Okay, so if you're on the podcast, we're going to explain it to you. But if you are on the YouTube channel, hopefully right now you can see. What can you guys see?

I can see it. We're good to go, Jeff.

I can see it as well.

Okay, so W2 for Ms. Angelica.

Yes. So she made $16,610, which is on line one.

Got it.

On line eight. She received $13,702 in unemployment. So her total taxable income is 30,000, minus the standard deduction I wrote down here on the bottom left. So our W2, 16,610. Unemployment is 13,702. Her refund is $18,529.

Hold on. I don't even understand that. So let's see there. So she was found head of household.

Yeah. And she's got three children.

She's got.

Oh, okay. I don't get those.

Yep. So on line 27A on the second page, she received her earned income credit of $4,400. She received her child tax credit. You know, she received some advanced child tax credit, but she had more coming to her with $7,200. She had daycare. And I've been preaching. And I've been preaching all the last six months. The biggest tax law change is daycare. So she has an $8,000 refundable credit. That's what's pretty amazing. It's a refundable credit. So her total credits and payments were $19,600 minus the 1123 shows on line 24 gives her a net refund of $18,529.

This is. I mean, this is incredible. I mean, most people out there listening to this probably don't have many cars over $18,000 sitting on their lot. And you see this, and you go, holy cow, this person is getting enough money back to essentially pay cash for my car. So the myth, as Jeff said, has been debunked. That is crazy. I mean, that is insanity. What was last year's average?

Last year, we averaged $5,600. Was the average last year. What are we expecting? We're expecting the average this year probably to approach 7. Now, keep in mind, that average also encompasses single people that have no kids. And a refund may only be a thousand dollars, but, you know, this is not the only return we've seen this year. We've seen a lot of 13,000, 14,000, 9,000. I mean, if folks have children, the government is just throwing money at them. Now, keep in mind, this lady was getting $250 a month per child. Still is getting an $18,000 refund. So I talked to this dealer, and what they did is they applied for a refund advance. They got a refund advance last night. Of the $6,000 they got, they put $3,000 down towards the car. And then Angelica set up a special payment with the dealer for February 28th. When the remainder of her $13,000 or $12,000 comes in, she's going to put another $3,000 down towards the car as an irregular payment set up in the system. That's perfect. That's utilizing tax max perfectly right there.

Man. That's.

I don't understand how we're going to stay in business as a country if we give it all this money back.

I agree with that. The reason I wanted to show this tax return is it really debunks all the myths, right? People screaming, there's no tax season because all the money was given out in 2021. There's no tax season because unemployment. I mean, you saw this lady, got $13,000 in unemployment, didn't put a debt into her return.

She was unemployed half the year. Yeah. So it does remind me when we had our first episode. I'm pretty sure I said I was going to go put up a tent in front of all the daycare joints in our house in our town, and I didn't do it. And I'm wondering if I can get around to it today, because that's. That's a Huge game changer. I mean, without her daycare credit, it still would have been a healthy return. Right, because she got that $8,000 fully refundable.

So it would have been a $10,000 return.

Yeah, yeah, she would have had $11,000 in a return. And you could have still could have done, you know, pretty healthy, four or five grand out of that, no problem. But that child daycare fully refundable amount is such a game changer and that.

Really hadn't been talked about a lot out there. So I think, you know, dealers should really recognize that, you know, ask your customers these questions because I'd be willing to bet you 90% of our customers have daycare costs.

And so they don't know their credit.

Exists and they don't have a clue. So I mean, that, that could be enough to educate a consumer to buy from you forever. You know what I mean?

Yeah. And this might be two in the weeds, bill, but on that daycare, what proof do they need? Is that, is that bank statements? Is it a statement from their daycare joint? Is it just.

It could be a licensed or unlicensed daycare provider. It could be a family member, it could be a friend down the street. They just need to report their social or employer ID number, their address and the amount paid. That's it. Okay, now once again, once again, the IRS may audit the file later on and say, hey, I need proof of this. But to file a tax return, they do not need to put the proof up front.

Okay, there's going to, that, that's going to trigger a ton of audits of the people that the Social Security numbers reported on.

Yeah, good luck. Correct. So it needs to be a legitimate expense. You know, we're not saying to fudge anything. It needs to be legitimate expense, but you know, it's reasonable. You have three kids and does that.

Would that create a taxable event for grandma if you submitted her Social Security number with the W2 to say that you quote, unquote paid her 8,000 this year?

Yeah, it would create a self employed. Yeah, yep.

1099 type.

So people gotta be careful about that. Obviously, if you do, if you did transfer some value to grandma or actual cash to grandma, it is going to hit her. But if you are ideally with dealers, we're only sticking with people that have bank statements from a legitimate daycare company and, or someone who is already a self employed business, you know, their friend down the street that runs a daycare that is actually reporting her taxes, hopefully, or just taking in those cash. So anyways, it's huge. Any other tips or things you're seeing right now that the dealers should be aware of?

Honestly, the secret sauce is the dealers just need to ask every customer, would you like to better your deal by utilizing a small portion of your tax return now? And customers like a deal, right? Sure, I'd love a deal. So. And basically just getting involved, right? So a lot of dealers will sign up for the program. They'll put their banner up and says, hey, we have Tax Max. The employees don't know what that means. So therefore, the customers don't know what that means. And then they come back to us a year later go, well, the program really didn't work. I'm like, well, what did you do? Like, well, I just hung the banner like, well, did you attend a webinar? Did you talk to your customers? Did you talk to your staff like you said, Jeff, get engaged with your customers. You know, hey, Mr. Customer, do you have any children? Yeah, I got three kids. Are they in daycare? Yeah. Well, would you. I could probably do your taxes and get half that daycare money back for you. Are you interested in me giving you a free estimate? You enter the information. Just because you enter the information in the system doesn't bind them to file. It's just an estimate.

Yeah, I mean, the years where we had the most success, we actually did a true marketing campaign, directed, you know, on TV and digitally directed to tell people, we file, we file, we file. And honestly, it was great. I got to get back to that. Unfortunately, staff in 2021 is kind of. Kind of crushed me, but it's like everything. You got to have a process in place. And Jeff and I talked about that last week. Just signing up is not going to. Not going to get it done. And nothing, nothing that works properly is not done without a good process, for sure.

And look, honestly, you're absolutely right. That is absolutely it. You got to have a process not just for the Tax Max program, but for any program. And as I mentioned earlier, the tax program should kind of come into play in the approval process. Right? You don't start out like, well, let's do all this. Let's get them approved for the car. Obviously, some more down payment with a refund advance because you're printing them on the spot helps. So we will always recommend some of our best dealers. Is that once the part of the underwriting process is that an estimator is done just to see if they're getting a refund at all, and then. And then move on from there.

So, but yeah, you're right.

A process really is pertinent to the success of any program.

Yeah. And part of my process is my F and I guy gets a bonus based on down payment. So. So if he can see that he can double or triple his down payments by. By going the tax max route, then it makes a lot of sense for him to push.

And you bring up another point too, is that the customers can get a bonus. Some dealers will say if you put $1,000 or more down, you get a free oil change. Or if you put fifteen hundred dollars down or more, like you said, you can get an upgrade in your car. There's lots of incentives for customers if you talk to them about it, that if you are willing to commit X, that we're willing to give you Y. Yeah.

And we cover. We say if you do $3,000 or more, we will pay all your filing fees. That's brilliant, you know, because some people will be like, oh, well, I can just E file or simple file, and it only cost me X amount. You know, so you sometimes run into those situations. But, and I think, Bill, you can attest to this, that the tax max filing fees are cheaper than your H and R Block.

You know, our filing fees are about 250. 250, including a refund advance. With H and R block, they're about 800 TurboTax. Their fees are actually approaching ours. So we're almost the same price as TurboTax, which is pretty funny.

Yeah. So we overcome that by just saying, hey, well let's. Let's just use 3,000 minimum, and the dealership is going to pay all those fees for you. And obviously it's fine with me because it's all baked into the sauce. Right?

Right.

And what it does is your customer and you, you're always on different cars. Right. I mean, they always want the $15,000 car and you want to approve them for the $10,000 car. That's just the way it is. So it's very easy to come back to them and say, hey, Mr. Customer, you know, I did get you approved for the, you know, 2001 Jetta. I know you want the 2015 Jetta. Here's how we're going to get there. You know, what's your tax return look like? You know, it's just. It's such an easy conversation. It's the first thing that my. Probably the fourth question that my salesman say to any new prospect. You know, how is your tax return? If you filed your tax return, what's Your typical tax return. You know, we just start that conversation. It's very easy.

And one thing you're saying is, I'm.

Sorry, guys, you should rehearse that and you should role play that, Jeff, and make sure that they have it nailed down exactly how to switch them into that program.

One thing we're seeing is that since all the government money's kind of disappeared from the last six months, people are very hungry for the tax return. So we're running probably, I know it's already January 12th. We're running over 100% over year to date last year. So we're seeing people all over the place, call us, emails, what dealers are doing this. We're seeing traffic across all of our points of contact. Just really up this year because people don't have that big check anymore. And the next big check is this tax refund.

Hey, sorry to break into this podcast, but we have to talk about Buckeye dealership consulting. Jeff, tax time is important, but one of the more important things is how you're selling aftermarket products. Are you setting up a reinsurance company? Are you doing things the right way? And Buckeye Dealership consultant is who we go to to make sure that's done properly, right?

Yeah, of course. And hopefully you're getting some of that tax return money today and getting those refund advance checks sold. And that gives you a little more air cover to add in a 3636 or add in, you know, a Gap or maybe your VIP package that includes a couple of things so, you know, you're able to sell some aftermarket products and you're able to get them funded, you know, so that you're not putting so much money on the street.

I mean, it's amazing what an extra thousand dollars would do for a customer long term. They can buy 36, they could buy Gap, they could have all these ancillary products that will, will save them money in the long run. And with Tax Max and the money you're using there, it probably won't affect their payment.

Yep, yep. So call the guys over. Buckeye, make sure you start out 2022 by getting your reinsurance company established.

Are we done with the, with the tax back stuff? Jeff, I want to ask Bill a couple of questions.

Let's, let's, let's talk to Bill about upcoming event.

Yeah.

So, Bill, I know that you are one of the founders of Buy Here, Pay Here, United. Can you talk to us about what's going on there? Why did you see a need for it and you Know, when are things going to start rolling so we'll know who's speaking and what the agenda looks like.

So buyer Payer United was created by myself and six other vendors. Basically, a lot of dealers have been reaching out to us, asking where other sources of education are provided. So they'd say, hey, where else do you exhibit besides, you know, NIDA and nabd? And, you know, in the past, there used to be six, seven shows a year, and all the shows were well attended. A lot of consolidation in industry. We're still very pro NIDA and we're still very pro. And nabd, we're members, we're sponsors. So we're not trying to replace them. We're just trying to fulfill a need that dealers are asking for, saying, hey, where's another source of education? So this has been brewing for the last probably two to three years. And then we started kind of having some conversations, then conversations turned to a meeting. Then the meeting turned into buy here, pay United. And our mission really is solely education, solely for the buy here, pay your industry, Whether you sell five cars a month or 500 cars a month, Our goal is to provide education and resources to those dealers. So you don't have to be a large dealer to attend, but you don't have to be a small dealer to attend. So we're trying to encompass. Encompass everything.

So, you know, the one thing that dealers out there are going to say, you know, hey, this can be a vendor pitch the whole time. You know, I know vendors apply so much education, and sometimes people don't understand that. But, you know, nobody wants to sit out there in Vegas and listen to vendors all day. What. What are we looking at?

That's a great question. And we. And we actually are doing the opposite of what you just said. So we've actually created a dealer board. So we've got a board of seven dealers. We're going to announce them very soon, and basically the dealer board is going to be the ones suggesting the education, helping with the agenda, as well as being part of the education.

So you're right.

It's not going to be vendors just up there giving education. We're trying to involve many dealers from throughout the industry to help present these topics, educate topics, as well as give their point of view. So we may have dealers who do, and I don't say we're doing this, but let's say some dealers may say I do centralized collections, and some dealers may say I do decentralized. And then the dealer is going to be up there, basically Saying how they do it and take questions at the end of every day. Basically it's a two day conference. We start it's from April 10th to the 12th on Sunday night we start with a cocktail party and then we really get to work. Monday, Tuesday at the end of every day, Monday and Tuesday is an hour basically powwow session where anyone can basically answer a question or. I'm sorry, ask a question. They can either stand up and ask the question or we're gonna add some technology where they can text the question anonymously and then anyone in the audience can answer the question. It could be the dealer board, it could be someone in the audience. So we're really trying to make it very interactive. We want to throw technology at it. We're going to be basically asking them for topics even right now. For listeners of this podcast, if you go to BHPH united.com on the main webpage in the upper right hand corner is suggest a topic. So we are taking topics. We've got 184 topics submitted so far. And basically we're going to take those topics and develop an agenda.

That's great. And we'll be there talking and doing all the things we do there. And so it's the 10th through the 14th or something like that of April.

10Th through the 12th at the Bellagio in Las Vegas. We're able to negotiate rooms at 1:35 a night. So if you just want to come out for a vacation, obviously I'm not telling you to blow off the classes, but come on out and enjoy the Bellagio for 135 a night. But there's gonna be a lot of education and we're very excited about it. Some of the main topics, the themes obviously have been inventory. So we're going to talk a lot about inventory, also human resources. We've had a lot of people want to know how do I find the best people? Pay structure of salespeople, how do I retain employees? Already have. Right. Everybody's always looking for more employees because of what they lost. We're going to also focus on employees you currently have. Well, you have to pay attention. One thing we're finding out that money is not the number one motivator of people keeping or leaving their job. So we're going to talk about all of that stuff. So we're basically going to guarantee that you're going to find something valuable to take back to your business, make you money, save you money, or help you out in the human resources department.

Yeah, all I can help is think that if you're going to have an open mic night, question and answer format, it should probably happen between like 10 o' clock at night and midnight with an open bar. Because I feel like once you get, you know, dealers in that frame of mind, they'll ask anything. That's when the truth starts happening. I found that in every 20 group I've gone to for 10, 12 years, it's always the best information happens on the after meeting get togethers with slightly tipsy dealers. That's when you get the real truth. So I look forward to it. This should be a lot of fun.

Yeah, it should be fun and having, you know, don't get me wrong, buy here pay here dealers can learn a ton from retail dealers which I've done over the years and vice versa. But having a conference where it's only buy here pay here is really smart and I think we a lot of learning going on from everybody. So I encourage all of our listeners to attend and Jeff and I will be there. It's not, not too far from Jeff's house so he probably won't stay. He'll probably just come in and out, who knows with him.

But it won't be a sales pitch. There's no exhibit hall, there's no vendors there.

Oh great.

You know even us we're talking about, we're not wearing our tax max shirts and other. It's going to be a buy here pay here United apparel. It's going to be very non sales pitchy. So it's going to be strictly education. Every morning, Monday and Tuesday morning there's a hot buffet breakfast from 8 to 9. The education is pretty much 9 to 12. Then we're going to have a hot buffet lunch From I believe 12 to 115 and then sessions are from 1 to 4 and then the wrap ups 4 to 5. So our goal is not to keep everybody too long. We want to get right to work education and then give everybody time to go out and enjoy Vegas. Sunday night, Monday night, Tuesday night.

Well we can't wait. Bill, thanks for being here and thanks for tax Mac for supporting us and also helping the industry.

Thanks for all you guys do. You guys are very important role in education as well.

Thank you Dealers helping dealers.

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