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  #421  
Old 04-12-2020, 04:27 AM
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Victory Sabre Victory Sabre is offline
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Quoth csquared View Post
Do you know if the bank trying to get market value, payoff value or something in between?
I really don't know. The previous owner has allowed so many easements into the property, so it's really not worth much at all. My guess the bank is going to get as much as they can, but it will, likely, be a loss.
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  #422  
Old 04-12-2020, 02:00 PM
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So, not an investment opportunity.
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  #423  
Old 04-13-2020, 07:33 PM
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Ghel Ghel is offline
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Betty inquired about the Paycheck Protection Program and picked up an application. Like all restaurants in Minnesota, she's only open for takeout. Dine-in has to be closed until May 4. But when I told her we'd need her quarterly payroll number from 2019, she said she hadn't done her taxes yet. So I doubt she'll bring the application back.
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Income reports
  #424  
Old 04-13-2020, 09:09 PM
earl colby pottinger earl colby pottinger is offline
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Quoth Ghel View Post
Betty inquired about the Paycheck Protection Program and picked up an application. Like all restaurants in Minnesota, she's only open for takeout. Dine-in has to be closed until May 4. But when I told her we'd need her quarterly payroll number from 2019, she said she hadn't done her taxes yet. So I doubt she'll bring the application back.
Lots of companies are hoping to get their hands on the money the government plans to pay out to keep things going, just one problem, the government wants detailed reports and receipts on what money you made before. I bet Betty has not been paying taxes and employment insurance that she should had been paying.
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  #425  
Old 04-14-2020, 02:18 PM
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Ghel Ghel is offline
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I bet Betty has not been paying taxes and employment insurance that she should had been paying.
Yes, that seems likely.
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  #426  
Old 04-15-2020, 10:47 PM
Slave to the Phone Slave to the Phone is offline
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I feel even more badly for Betty's staff now than I usually do. If she's not paying the unemployment, her employees won't be covered and also won't be eligible for the extra 600 a week. Doesn't matter that their pay stubs clearly show the taxes being taken out of their pay, if the employer doesn't pay, the employee is totally screwed.
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  #427  
Old 08-02-2020, 01:19 AM
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Quote:
Quoth earl colby pottinger View Post
I bet Betty has not been paying taxes and employment insurance that she should had been paying.
At one time she was cashing paychecks out of the till, so that is very likely.
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  #428  
Old 08-02-2020, 09:11 PM
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EricKei EricKei is offline
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Quote:
Quoth Slave to the Phone View Post
Doesn't matter that their pay stubs clearly show the taxes being taken out of their pay, if the employer doesn't pay, the employee is totally screwed.
To the best of my understanding, you are 100% correct -- I know the employees would be on the hook for their half (ish) of the payroll tax "contribution;" unsure if they would be held responsible for the employer portion as well.
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