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My father makes about 1.5 or 2 million per year.
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Does he?
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How do we owe the banks 800 grand?
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Borrowed it perhaps?
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He's putting money out of his own pocket into the businesses to keep them floating when the weather is bad
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His own money, the companies money or the banks money?
Or all three?
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That's how it is with a lot of businesses in my area.
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That is how it is with business.
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The owners are shoving their personal money into their businesses.
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That is what an owner does, you put money in and if all goes well you take money out. Though he could go to a bank for a loan or try and get investors who will put money in with the aim of taking money out.
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Now, one of our main problems is property tax.
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Has property tax suddenly changed in a massive way or is that an expense the business should be planned to accomodate from day 1. After all your business revenue isn't counted till your liabilities have been covered.
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Statement to be made here...
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Yes, the statement questions if you know how a business works?