What was the amount due from IRS for All Team in 2024?
All_Team Franchise · 2025 FDDAnswer from 2025 FDD Document
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Tampa, Florida March 24, 2025
ALL TEAM FRANCHISE CORPORATION BALANCE SHEETS
AS OF DECEMBER 31, 2024 AND 2023
| 2024 | 2023 | |
|---|---|---|
| CURRENT ASSETS | ||
| Cash | $ 629,272 | $ 1,015,879 |
| Accounts receivable-trade, pledged, | 589,672 | 1,075,420 |
| less credit losses of $63,416 and $57,416, respectively | ||
| Advances to related parties | 1,526,254 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 33)
What This Means (2025 FDD)
According to All Team's 2025 Franchise Disclosure Document, the amount due from the IRS in 2024 is presented in the Statements of Cash Flows and Balance Sheets. Specifically, under the category of 'CURRENT ASSETS,' the 'Due from IRS' is listed as zero for 2024. This indicates that All Team did not have any pending payments or refunds due from the IRS at the end of the 2024 financial year.
In contrast, the 'Due from IRS' amount for 2023 was $49,780. The fluctuation between 2023 and 2024 suggests that any prior year amounts due were resolved or settled during 2024.
For a prospective franchisee, this information provides insight into All Team's financial management and tax handling. The absence of a 'Due from IRS' amount in 2024 could be viewed positively, suggesting that the company is current with its tax obligations. However, it is important to consider this data in conjunction with other financial metrics and trends to gain a comprehensive understanding of the company's financial health.