If a business owner spend most of the revenue on his own life insurance, AARP and Blue Cross/Blue Shield etc. expense, and there is no money?

to make payroll. Will the government punish him?

Best Answer:

StephenWeinstein: If a business owner does not meet payroll for any reason, whether or not there is enough money, then he will get in trouble with the government when the unpaid employees complain to the government.

Other answer:

StephenWeinstein:
I recommend one to visit this web page where you can get quotes from the best companies: http://cheapinsurancequotes1.info/index….

RE :If a business owner spend most of the revenue on his own life insurance, AARP and Blue Cross/Blue Shield etc. expense, and there is no money?
Update: to make payroll. Will the government punish him?
Follow 7 answers

Merlene:
The only business entity that will allow an owner to deduct those items as business expenses is a C corporation. If you're not a C corporation, you're deducting personal expenses and will rack up a big bill for tax, interest, and penalties.

If you don't know what a C corporation is, you're not one.

shipwreck:
He can if he doesn't pay the taxes and most idiots pay employees before taxes since they are more afraid of employees. Employees just become another creditor in the bankruptcy like supplier. Employees need to quit working for free. We all walked out once and I said call when you get money, he is out of business until he borrowed money to pay us.
Anonymous:
No, government won't. Government only punishes him if taxes aren't paid.

Don't worry – if the business owner has crappy business sense as you describe above, he won't be in business long.

Angelique:
Unpaid employees should not let this go on too long. Report it to your state's labor dept. They will take it from there. You might want to start looking for another job.
Casey Y:
For failing to pay payroll…absolutely.
Insurance Pickle.com:
Only if they don't pay their taxes.
Share

Leave a Reply

Your email address will not be published. Required fields are marked *