Buckeye business owners

[Bill Lucas]

A quick update for any that didn't get in the first wave. I am working to get two lenders to refer people to when (I'm an optimist) the second round of funding opens up. It will be the same as before. Send an email to [email protected] and I will send the bankers contact info. Please wait to send emails until I post again that I have firmed up the two bankers for referrals. I have one locked down already. I'm waiting for confirmation from the second.

In the meantime get your documentation in order. IRS forms 940 and 941. Copies of current drivers license. Articles of incorporation. Copy of health insurance premium. Company of retirement contributions. Schedule C or 2019 tax return for sole proprietors and 1099. I think that's most if not all of what's needed. Be ready hen the next wave of funding hits. And good luck to all of you. Difficult times for sure.

 

[heisman]

Anyone else get an unexpected check from the Treasury this week?

 

[Fungo Squiggly]

Anyone else get an unexpected check from the Treasury this week?

Pretty small amount? The IRS has been paying out interest on refund returns filed after 4/15.

 

[heisman]

Pretty small amount? The IRS has been paying out interest on refund returns filed after 4/15.

No, it’s a significant amount of money and it’s made out directly to my S-Corp, so everything flows to the shareholders. Plus, we haven’t even filed yet.

 

[Fungo Squiggly]

No, it’s a significant amount of money and it’s made out directly to my S-Corp, so everything flows to the shareholders. Plus, we haven’t even filed yet.

Hm. That’s weird for sure. Does it have month end / tax year on it? They’ll usually have something like 12/2019 or 03/2020. I’m wondering about some of the stupid payroll tax stuff they put in the CARES Act.

 

[heisman]

Hm. That’s weird for sure. Does it have month end / tax year on it? They’ll usually have something like 12/2019 or 03/2020. I’m wondering about some of the stupid payroll tax stuff they put in the CARES Act.

This is the code at the bottom:
06/2020 F-941 REF 01

 

[Fungo Squiggly]

This is the code at the bottom:
06/2020 F-941 REF 01

Yeah....that's payroll taxes for the 2nd quarter. I'd check with whoever handles your payroll and see if they can sort it out.

 

[heisman]

Yeah....that's payroll taxes for the 2nd quarter. I'd check with whoever handles your payroll and see if they can sort it out.

Thanks! Good lord, this isn't going to end well. Hahahaha!!!

 

[Fungo Squiggly]

Thanks! Good lord, this isn't going to end well. Hahahaha!!!

Yeah....good luck! My guess is that it's going to be something from page 4 of the 941. That's where all the new CARES Act credits show up.

 

[Jaxbuck]

Pretty small amount? The IRS has been paying out interest on refund returns filed after 4/15.

I received $1.03 in interest for filing my taxes on time

What a country

 

[BuckeyeNation27]

I didn't know Bucky did everybody's taxes. Check for a PM next April.

No, I'm just kidding.




There isn't going to be a next April.

 

[Fungo Squiggly]

I received $1.03 in interest for filing my taxes on time

What a country

Really it was a matter of pragmatism and manpower. Either commit their already limited resources to updating their shit to NOT send out these interest payments or just say fuck it and let it ride. Compared to everything else? Drop in the bucket. They made the right call here, IMO.

 

[Jaxbuck]

Really it was a matter of pragmatism and manpower. Either commit their already limited resources to updating their shit to NOT send out these interest payments or just say fuck it and let it ride. Compared to everything else? Drop in the bucket. They made the right call here, IMO.

Yeah but now those sonsofbitches are going to want .41 cents of it back next April (if there is a next April)