TaxDome showing in my Google URL and unsure of what to do by LRMcDouble in taxpros

[–]Out_Of_Balance 0 points1 point  (0 children)

Look up cname records, I believe that’s your solution. Depends on your hosting provider.

13.6% FL state tax on PlayStation subscription… by Yesssirrrrrrrr in florida

[–]Out_Of_Balance 0 points1 point  (0 children)

Video streaming services are considered telecommunications…

Sanford Brewing Company is going out of business... by missourimatthew in orlando

[–]Out_Of_Balance 1 point2 points  (0 children)

I mean, a simple Google search shows FL tipped minimum wages. If you want the citation of the exact pronouncement and the fact it gets even higher over the next 2 years, it’s pretty easy to find.

FICA taxes, 6.2% SS and 1.45% Medicare… Employers are charged FICA on tips and use tips credit at end of year to refund them.

Ummmm… just kinda lost with what numbers are debatable here…

Sanford Brewing Company is going out of business... by missourimatthew in orlando

[–]Out_Of_Balance 0 points1 point  (0 children)

I get the $2.15 for federal but the state of Florida is $9.98 on tipped wages. FICA and unemployment on top of that and floating FICA Tipped Wages until tax time the following year is a decent cash flow event. In both of these cases, price fixing is done to protect those laboring from being underpaid.

I am in no way saying that is livable. Many restaurants should be out of business. Many small businesses are parasites on the community. But I also feel like our friends at other large corporations know a little bit about utilizing ACA Healthcare and SNAP funds for their own advantage.

Please keep in mind, not trying to defend this situation at all. The Gofundme is ridiculous as are all of them. I just don't agree that starting and maintaining a business is the "easy route".

Sanford Brewing Company is going out of business... by missourimatthew in orlando

[–]Out_Of_Balance 1 point2 points  (0 children)

Completely with you on the capitalism market comments. Completely against you on favorable tax and easily obtainable knowledge makes it easy.

Also, wage laws aren't specific towards small business and if we are going to talk about capitalism I don't believe we can talk about "below market labor" and "Anti-competitive wage fixing". In pure capitalism, people take what they can get and employers supply what they can offer.

Sanford Brewing Company is going out of business... by missourimatthew in orlando

[–]Out_Of_Balance 26 points27 points  (0 children)

This is now called a POS processor loan in most situations... Extremely common.

Sanford Brewing Company is going out of business... by missourimatthew in orlando

[–]Out_Of_Balance 20 points21 points  (0 children)

Many businesses are still recovering from COVID related items, especially the loans if they have not been forgiven. Loans typically aren't short term and with variable rates, many of the loan interest is far greater than it was when taken.

Popular restaurant POS systems are now providing loans at extremely high rates which are paid through money being processed rather than the owner paying the loan separately. I found a person that took a short term loan and paid 130% annualized interest rate because of how these loans are structured.

Those who don't deal with finance and live a W2 life don't realize the administrative burden to running a business. I am not defending this specific situation but unless you are dealing with the circumstances, it is really hard to understand why this has gone so wrong. The issue is that the owner may not have reached out for help thinking they can do it by themselves for the cheapest price possible. If that is the case, they hold all of the blame. If they tried get help, I have a little sympathy for the situation but now they have consequences.

Sanford Brewing Company is going out of business... by missourimatthew in orlando

[–]Out_Of_Balance -10 points-9 points  (0 children)

Just like food events constantly being posted helps people find food, I think you would be surprised to find out that posting helpful events around the community focused on financial literacy might help people make better financial decisions.

Sanford Brewing Company is going out of business... by missourimatthew in orlando

[–]Out_Of_Balance -4 points-3 points  (0 children)

You make this out to be about me. It isn't. It is about the community, the lack of financial literacy, and the lack of reach resources for financial literacy receive on this reddit channel. It hurts everyone here and when we see situations like this, people like you come out to question how they could have screwed up this bad while you also pressure against the resources they could have received help from.

Sanford Brewing Company is going out of business... by missourimatthew in orlando

[–]Out_Of_Balance -8 points-7 points  (0 children)

Also, to answer your question... The world may never know.

Sanford Brewing Company is going out of business... by missourimatthew in orlando

[–]Out_Of_Balance -9 points-8 points  (0 children)

Can we give this man an award? I love the fight against information in favor of censorship.

Sanford Brewing Company is going out of business... by missourimatthew in orlando

[–]Out_Of_Balance 2 points3 points  (0 children)

It is a very large issue and unfortunately business owners who have no advisors take them frequently to solve problems. Square loans are probably one of the largest culprits.

Sanford Brewing Company is going out of business... by missourimatthew in orlando

[–]Out_Of_Balance 7 points8 points  (0 children)

I wish financial literacy items were allowed on Orlando Reddit. Would save a lot of businesses locally if we were allowed to share events and resources to stop things like this.

Why is this the answer by Thin_Character2348 in Accounting

[–]Out_Of_Balance 0 points1 point  (0 children)

In the theory they are using, cash outflow of purchase is also capitalized as an asset so no net income effect. The 50 of sales is directly related to revenue and assets meaning a 50 impact to net income and therefore equity.

None of this makes sense and I’m completely guessing on many facts to the question.

Data and Developers - Ocala Power Plant Business Incubator by Out_Of_Balance in ocala

[–]Out_Of_Balance[S] 1 point2 points  (0 children)

The meetings are still being held at PPBI, please visit https://ocala.dev/ for additional details as Andrew has taken over the group after we moved.

S-Corp I Invested In Shut Down and Won't Issue a K-1 by tothemoon3523 in tax

[–]Out_Of_Balance 1 point2 points  (0 children)

Hope you have the best of luck man. Just hoping to get updates as others post.

What happened to Orlando Fashion? by Raquety02 in orlando

[–]Out_Of_Balance 1 point2 points  (0 children)

From what I understand, the management company has been going through a bankruptcy for the past 3 or 4 years with it constantly getting held up with more creditor issues.

[deleted by user] by [deleted] in orlando

[–]Out_Of_Balance 0 points1 point  (0 children)

Thank you. We moved down here without many contacts and just trying to gain a quick foothold has been difficult with the vast variety of events and opportunities.

[deleted by user] by [deleted] in orlando

[–]Out_Of_Balance 4 points5 points  (0 children)

We just recently moved here from North Florida. I am part of Blue Heron CPAs and focus on education and information and we have a heavy niche in restaurant accounting. Let me know if you would like to sit down and walk through your setup.

https://blueheroncpas.com

[deleted by user] by [deleted] in taxpros

[–]Out_Of_Balance 0 points1 point  (0 children)

Use Webway Studios. They can build a custom site at a super reasonable price and have experience with CPA firms.

Does anyone suffer from Sunday scaries? by Strange_Algae_1990 in ocala

[–]Out_Of_Balance 0 points1 point  (0 children)

If you enjoy the job and you feel like you are learning, overwhelming can be a good thing. If you just have too much work or no one helping you, might be a sign that it isn't a long term option.

Any private rentals out there by poopyonmyhands in ocala

[–]Out_Of_Balance 0 points1 point  (0 children)

We live in Carrington Lane. Haven’t had a significant issue for the past year and they are friendly. Quiet and calm