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Bonhomme Richard

(9,568 posts)

3. A lot of small business owners rob Peter to pay Paul.

Reply to ProfessorGAC (Original post)

Thu Jul 4, 2013, 05:35 PM

Jul 2013

Make payroll (which they are obligated to do) or pay Uncle Sam so they don't make tax payments. Being optimist they think things will get better in the near future and Whamo...it doesn't and now they are in the hole for thousands.
And yes. They are scams.

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Do You Owe The IRS More Than $10,000? [View all] ProfessorGAC Jul 2013 OP

I suspect they are all scams... NRaleighLiberal Jul 2013 #1

I think there are also people who just get terminally confused by enlightenment Jul 2013 #2

A lot of small business owners rob Peter to pay Paul. Bonhomme Richard Jul 2013 #3

You'd be surprised how easy it is to get in a tax mess. But these firms are scams. Hoyt Jul 2013 #4

lots of small businesses going under recently. maybe that's the reason. HiPointDem Jul 2013 #5

If a business is losing money and going out of business itsrobert Jul 2013 #6

i'd guess from past robbing peter to pay paul. or not pay paul. but i just threw out the small HiPointDem Jul 2013 #7

Failure to pay sales tax, payroll tax, personal taxes, etc. Hoyt Jul 2013 #9

Penalties and interest can be far higher than back taxes jmowreader Jul 2013 #8

Thanks Folks Some Good Thoughts Here ProfessorGAC Jul 2013 #10

There are a lot of desperate people these days who have gone into business for lack of a job Fumesucker Jul 2013 #11