Management ??

Closed-Tax Problem

Mismangement

From the N&O: http://www.newsobserver.com/living/food-drink/mouthful-blog/article62906522.html

The average life span of a restaurant is often short. In the case of Durham City Beverage  perhaps it should have been shorter.

In three separate federal tax liens, it is alleged that the company owes more than $963,000 in federal corporate and unemployment taxes dating back to 2009. Almost a million dollars….where did it go?

Staying in business means making a profit….and satisfying all financial obligations. Paying taxes is a cost of doing business. In order to pay those taxes and other expenses requires solid business practices.

The lesson for this business and all businesses is understanding the basic principles of business management….in particular the financial aspect of running a business. Often those skills are missing….apparently they were at Durham City Beverage.

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