What was the amount of cash paid for income taxes by Goldfish Swim School in 2024?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
| Cash paid for interest and income taxes was as follows: | |||||
|---|---|---|---|---|---|
| 2024 | 2023 | 2022 | |||
| Interest | $ | - $ | - $ | 13,267 | |
| Income taxes | 268,934 | 264,960 | 184,686 | ||
| Significant noncash investing and financing activities are as follows: | 2024 | 2023 | 2022 | ||
| Accrued member distributions | $ | - $ | 41,052 $ | - | |
| Advances to member | 235,807 | - | - | ||
| Member distributions used to settle related party | |||||
| advance | 163,222 | 192,688 | 856,443 | ||
| Lease liability arising from adoption of ASC 842 | - | - | 1,869,195 |
Source: Item 23 — RECEIPTS (FDD pages 77–389)
What This Means (2025 FDD)
According to the 2025 Goldfish Swim School Franchise Disclosure Document, the cash paid for income taxes in 2024 was $268,934. This figure provides insight into the financial obligations of Goldfish Swim School and can be used to assess the company's profitability and tax management strategies.
For a prospective franchisee, understanding the franchisor's tax payments can offer a glimpse into the overall financial health and stability of the franchise system. It's important to note that this figure reflects the franchisor's tax obligations and not necessarily the tax liabilities that a franchisee would incur. Franchisees should consult with a financial advisor to understand their own potential tax obligations.
Reviewing these figures over several years, as presented in the table, can reveal trends in the company's tax payments, which may be influenced by changes in profitability, tax laws, or accounting practices. Comparing these figures to industry benchmarks can also provide a broader context for evaluating the financial performance of Goldfish Swim School.