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HMB2010

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HMB2010

Re: QaB2i post# 30705

Tuesday, 06/02/2020 8:32:58 AM

Tuesday, June 02, 2020 8:32:58 AM

Post# of 44141
On *Aug 2006*, The Higgins agreed to sell their business to Gallo (Empire Equity Group) for $2.4m. Gallo agreed to pay $1.4 in cash and $1m in a promissory note guaranteed by Ezra Beyman & Empire Equity Group, Inc.



In *April 2010*, while doing his taxes, Charles Higgins discovered that Gallo’s quarterly interest payments had not been correctly calculated. Gallo now owed an additional $101,843.75 in unpaid interest.


The case was settled out of court on *03/31/2011* to the fullest satisfaction of Mr. & Mr. Higgins.

LESSON: Check the math and do your own taxes ???

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