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In fact, ROBS is currently the most popular form of business financing in 2023. Businesses have to incur lots of expenditures just to operate, including payroll , acquiring assets like vehicles & real estate, and day-to-day expenses (like a restaurant maintaining their inventory of condiments, food ingredients, and beverages).
If you’re still strapped, consider a grant—a form of funding you don’t need to repay. DoorDash Restaurant Disaster Relief Fund : $10,000 for established restaurants affected by natural disasters. Covers rent, utilities, supplies and payroll. Time your move You own a small business. Deadline is Dec.
Restaurant employees were paid off the books until the owner decided to put them on the books in 2020 because she needed some on-the-books employees in order to apply for government grants and/or loans. Worse: The owner sent allegedly falsified records of those payments to her accountants so they could prepare Forms W-2s, 1120-S, 941 and 940.
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