What was the total amount Best Brains spent on health insurance during January-March 2025?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
| DISTRIBUTION ACCOUNT | TOTAL |
|---|---|
| Rent Deposit | 6,926.00 |
| Software Development | $96,000.00 |
| Accumulated Amortization | -59,400.00 |
| Total for Software Development | $36,600.00 |
| Total for Other Assets | $829,502.94 |
| Total for Assets | $5,800,353.06 |
| Liabilities and Equity | |
| Liabilities | |
| Current Liabilities | |
| Accounts Payable | |
| Accounts Payable | 4,359,868.59 |
| Total for Accounts Payable | $4,359,868.59 |
| Credit Cards | |
| Chase United | 58,323.60 |
| Citibank AAdvantage | 32,104.94 |
| Credit Card at BOA4100 | 21,147.88 |
| Credit Card at Chase - 0669 | -25,054.83 |
| Credit Card at Chase - 4855 | 56,277.45 |
| Total for Credit Cards | $142,799.04 |
| Other Current Liabilities | |
| Accrued Real Estate Tax | |
| Credit BCBS | |
| Deferred Franchise Revenue - Current | 111,920.00 |
| Deposit Made in Error | |
| Direct Deposit Payable | |
| Franchise Advance | |
| Franchise fees Advance | 162,500.00 |
| Loan | $30,129.49 |
| Fora Financial | 38,484.27 |
| Total for Loan | $68,613.76 |
| Loan from the shareholders | |
| Payroll Liabilities | 0 |
| 401K | -4,467.75 |
| Federal Taxes (941/944) | |
| Federal Unemployment (940) | |
| Garnishments | -5,599.12 |
| Health Insurance (pre-tax) | -$24,207.06 |
| Health Insurance (company paid) |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, the total amount for health insurance (pre-tax) listed under distribution accounts for the period of January-March 2025 was a negative $24,207.06. This figure reflects a reduction or credit related to health insurance expenses during this period.
It is important to note that this figure is listed as 'pre-tax', meaning it does not include any tax implications. Additionally, the financial statements are unaudited, so prospective franchisees should be aware that these figures have not been verified by a certified public accountant.
Prospective franchisees should seek clarification from Best Brains regarding the nature of this negative value. It could represent a correction, refund, or other adjustment related to prior health insurance payments. Understanding this figure is crucial for accurately assessing the company's financial performance and potential liabilities.