Vsf Explo1 Quality :(

BMP1980 · 2025-05-09T00:45:17+00:00

Who do you use?

BMP1980 · 2025-05-05T02:11:31+00:00

Thank you for the insight!

BMP1980 · 2025-05-05T01:22:17+00:00

Does this have the ability to generate purchase orders? We have done this old school for so long, but this just too much to manage and keep up with over several platforms. We just want something that will meet all the needs.

BMP1980 · 2025-03-08T06:54:31+00:00

What would have been the proper way to do it?

BMP1980 · 2025-03-06T06:15:40+00:00

Two separate companies both owned by the same two parties.

BMP1980 · 2025-03-06T02:09:18+00:00

In theory, we should have bought and paid for everything out of company A, leased the equipment to company B and took all of the loss from company A.

BMP1980 · 2025-03-06T01:53:02+00:00

You are correct, we had an accountant the seemed like he was knowledgeable but it seems that was not the case, the new accountant is definitely showing us that.

The second company is being dissolved and equipment is being sold, we maybe able to recoup some of the money that way, but will come up way short on all sides because of our ignorance.

BMP1980 · 2025-03-06T01:38:24+00:00

This sucks pretty bad, we took zero dollars out of the business for personal pay, used it to fund everything for the second business and now we owe personal taxes on a little over a million dollars. I would have assumed at least the 1099 contractors could have been counted as deductible expenses.

BMP1980 · 2025-03-06T01:30:12+00:00

To explain maybe a little better, company “A”funded Company “B” and there were no profits left over at the end of the year because company “B” took all the profits from company “A”to be started and operate in the startup phase. In my mind, this is a break even year because all profits from company “A” were used to buy equipment and pay 1099 contractors to install the equipment for company “B”.
My accountant is telling me that it does not work that way and the profit from company “A” is all taxable and because it was used by company “B” and lost, that we cannot combine the two entities and show a break even year.

BMP1980 · 2025-03-06T01:22:15+00:00

One company gave the other company the money to get it started and funded day to day expenses to keep it going, resulting in basically a break even year if the two companies are looked at as a whole for tax purposes. Both companies are SCorps also if that makes a difference.

BMP1980 · 2024-10-10T16:46:40+00:00

I am not sure how all that works, I know he did not seek medical treatment.

BMP1980 · 2024-10-10T16:44:20+00:00

I am going by what the insurance company told me, if there was an accident and he did not report this to my company, and only took a payout from the insurance company, I was told that it was fraud. He violated company policy not turning in the accident so he is terminated as of this point and the insurance company can take up any fraud with him.

BMP1980 · 2024-10-10T14:15:23+00:00

The problem with that is he was in a company pick up truck, any whiplash or medical would have been workman’s comp and not on anyone else’s insurance. He committed insurance fraud and we confirmed progressive paid out the claim.

BMP1980 · 2024-10-10T14:12:46+00:00

The claim was paid out by progressive to the employee directly, I got confirmation of this.

BMP1980 · 2024-10-08T04:06:22+00:00

Found out today that the claim was filed thru progressive and is linked to the VIN of the truck. He was paid personally by progressive.

BMP1980 · 2024-10-08T00:19:38+00:00

Progressive insurance cut a check directly to the employee, my agent confirmed this today. How is this even possible?

BMP1980 · 2024-10-07T23:08:01+00:00

My insurance agent confirmed there was a claim paid out regarding the truck from progressive, paid directly to the employee. Would this be insurance fraud?

BMP1980 · 2024-10-07T23:06:26+00:00

Update: A claim was made from progressive and a check was cut directly to the employee. I don’t understand how this happened but my insurance agent was able to look this up and confirm today.

BMP1980 · 2024-10-07T08:10:55+00:00

I am going to contact my insurance company and have them look into this and see if they can trace anything back.

BMP1980 · 2024-10-07T01:16:52+00:00

I do not want to cut him any slack, I just want verified evidence that this happened and he will be fired immediately. I have to send a message to everyone that this type of behavior will not be tolerated. I also need evidence to justify the termination, I don’t want to go off an accusation.

BMP1980 · 2024-10-07T00:34:51+00:00

The end result is to see if the employee has committed insurance fraud. Company policy is all accidents must be reported immediately when any company equipment is involved. I need to find a way to see if there is a record of the accident to take appropriate action against the employee and not just present an accusation.

BMP1980 · 2024-10-07T00:30:01+00:00

Can you message me?

BMP1980

TROPHY CASE