Dominion Partners, Author at The Dominion Partners LLC

The Dominion Partners, LLC – Comforcare Home Care
Profit and Loss by Month
January 2020 – February 2021

	Jan – Dec 2020	Jan – Feb, 2021
Income
HC40000 Private Pay Revenue	236,435.11	23,412.25
HC40050 Revenue – Medicaid	216,382.54	31,290.06
HC40060 Revenue Locally Funded	1,354.55
HC40100 Revenue – Insurance Companies		2,823.10
HC40300 Long-Term Care Insurance – LTCI	55,423.60
Services	0.00
Uncategorized Income	111.31	111.31
Total Income	$ 509,707.11	$ 57,636.72
Cost of Goods Sold
HC50100 Caregiver Wages	326,146.38	40,249.25
HC50200 Payroll Tax – FICA Caregiver Wages	24,512.28	3,336.61
HC50400 FUTA / SUTA – Caregiver	8,108.20	1,439.31
HC50700 Supplies for Clients – Gloves	682.72
HC51000 Mileage	7,474.17	3,366.45
HC52000 Royalty	37,885.65	3,088.14
HC54000 Drug Testing Supplies	412.02
HC55000 Subcontracted Services	350.00
Total Cost of Goods Sold	$ 405,571.42	$ 51,479.76
Gross Profit	$ 104,135.69	$ 6,156.96
Expenses
Advertising & Marketing	409.99
HC60050 Advertising – Internet	1,514.00	20.98
HC60100 Advertising – Referrals Selling	3,370.92
HC60200 Cell Phone – Marketing Staff	1,378.00	106.00
HC60250 FUTA/SUTA Tax Admin Staff	258.21
HC60450 Donations	100.00
HC60650 Administrative Salaries	22,063.14
HC60675 Payroll Tax – Admin Staff	1,055.18
HC60900 Office/General Administrative Expenses	4,331.01	316.75
HC61010 Software Expense	150.00	349.50
HC70000 Rent for Office Space	10,588.67	1,569.21
HC70010 Rent – Other	910.25	116.00
HC71000 Postage	172.65
HC71300 Subscriptions	9,428.52	1,072.50
HC73000 Advertising – Hiring Related Administrative	2,100.00	175.00
HC73500 Accounting & Tax (non-payroll)	11,461.00	6,000.00
HC73760 Amortization – Franchise Fee	4,000.00
HC74250 Office Telephone	2,708.41	403.60
HC74500 Bank Fees (not interest)	3,181.23	50.00
HC75000 Bad Debt	-23,898.00
HC78000 General & Professional Liability Insurance	3,777.27	553.16
HC78250 Internet Connection Fees	839.40	139.90
HC78500 Interest on Debt or Credit Cards	1,115.17	760.02
HC79000 Legal & Court Fees	754.19	39.00
HC79250 Licenses	1,615.58
HC79400 Office Supplies	3,007.70	176.37
HC80800 Worker’s Comp – Admin Staff	3,286.00
HC80900 Payroll Processing Fees	3,206.43	1,126.40
HC81000 Worker’s Compensation Insurance	1,998.00	920.00
Total Expenses	$ 74,882.92	$ 13,894.39
Net Operating Income	$ 29,252.77	-$ 7,737.43
Other Income
HC40203 Other Miscellaneous Income	11,085.35
Total Other Income	$ 11,085.35	$ 0.00
Net Other Income	$ 11,085.35	$ 0.00
Net Income	$ 40,338.12	-$ 7,737.43

The Dominion Partners,LLC
Balance Sheet
As of February 28, 2021

	Total
ASSETS
Current Assets
Bank Accounts
HC10500 Checking Account	25,062.40
MB65293 Citizens Checking Account	0.00
MB71290 Citizens Checking Account – 71290	2,575.66
Total Bank Accounts	$ 27,638.06
Accounts Receivable
HC11000 Accounts Receivable	97,143.16
HC11100 Other Receivables	18,439.79
HC11500 Allowance for Doubtful Accounts	0.00
MB99999 Member Statements	0.00
Total Accounts Receivable	115,582.95
Other Current Assets
HC11700 Petty Cash	0.00
HC12000 Prepaid Workers Comp Ins	0.00
HC12100 Prepaid Liability Insurance	0.00
HC12101 Prepaid Other	0.00
HC12200 Prepaid Payroll	0.00
HC12750 Payroll Advance/Manual Checks	998.25
MB17000 MB17000 Intercompany Receivable – DP Home Care of Atlanta	236,666.60
Total Other Current Assets	$ 237,664.85
Total Current Assets	$ 380,885.86
Fixed Assets
HC15000 Furniture and Fixtures	5,120.00
HC15100 Equipment	6,819.00
HC17000 Accumulated Depreciation – Furniture	-2,421.74
HC17100 Accumulated Depreciation – Equipment	-3,220.13
Total Fixed Assets	$ 6,297.13
Other Assets
HC16000 Goodwill	148,061.00
HC16500 Franchise Fee	20,000.00
HC16600 Accumulated Amortization Franchise Fee	-4,000.00
HC19100 Organization Costs	2,221.33
MB19100 MB19100 Organization Costs	2,851.85
Total Other Assets	$ 169,134.18
TOTAL ASSETS	$ 556,317.17
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Other Current Liabilities
HC23000 Accrued	0.00
HC23025 Accrued Payroll	0.00
HC23400 Federal Payroll Taxes Payable	31,570.71
HC23500 SUTA / FUTA Taxes Payable	5,201.59
HC23600 State Payroll Taxes Payable	2,184.60
HC23650 Other State PR Liabilities	1,225.55
HC24200 Short Term Loans – Forward Financing	0.00
HC24201 Short-Term Loan – Square Capital	0.00
HC24203 Loans From Members	1,000.00
HC24250 Payroll Expense Due PayCor	0.00
MB23000 Accrued Payable	0.00
Total Other Current Liabilities	$ 41,182.45
Total Current Liabilities	$ 41,182.45
Long-Term Liabilities
HC24300 Line of Credit	39,000.00
HC24400 PPP Loan	75,400.00
HC27000 Intercompany Payable – The Dominion Partners, LLc	200,325.66
MB24700 MB24700 Deposits & Refunds Due	4,693.00
Total Long-Term Liabilities	$ 319,418.66
Total Liabilities	$ 360,601.11
Equity
Owners	250,671.85
MB39800 MB39800 Owner Distributions Equity Revenue	0.00
Retained Earnings	-47,218.36
Net Income	-7,737.43
Total Equity	$ 195,716.06
TOTAL LIABILITIES AND EQUITY	$ 556,317.17

With today’s focus on investing in and flipping homes, there is an investment that has become lost in the glamour of high profile home flipping. The purchase of land has always been one of the more secure forms of real estate investment, and if you are looking for a long-term asset land is perfect. There are numerous ways you can go about making a profit off your purchase of land, but most involve proper zoning and selling to the right person or company.

Before you purchase any parcel of land, do some research into the zoning of the area. Find out if it is zoned for residential, commercial or both. Finding something that is zoned for both is a great find because it gives you the widest array of options when selling. Also try to find out if there are any liens or easements on the property, this information will be critical when selling. Now consider the area that the land is in, is it an area that is likely to be developed? How does it match up in terms of location and proximity to amenities existing or proposed?

Also try to find out how the surrounding land has appreciated in the past years. If the area you are looking at has seen a push on development there is a good chance that land will be selling for a premium price as the development continues. To make your land more attractive to buyers, try clearing it yourself (if possible). Having all scrub and stumps removed is an attractive aspect to developers as it will save them time and money in the long run. Prospecting on the value of land can really pay off in the end if done correctly. development companies will pay top dollar for land in the right place so do your homework and good luck!

Home equity loan is one among the most popular home loans available today. It is a second mortgage loan with characteristic properties of a secured loan. The popularity of the home equity loan has attracted many people to home equity loan. In general, equity loans does not have arise much complaints from the people. However as any other coin, home equity loan also have two sides. Hence, the detailed analysis of the loan is essential to differentiate the features of the home equity loan. The cross analysis of the pros and cons of the home equity loan helps to avoid stepping in to the home loans with false expectations.

The pros of the home equity loans include the advantages that a borrower can enjoy from the home equity loan. The benefits of the home equity loan usually outweigh other secured and unsecured loans since it is a risk free loan for the lender. The home equity loan provides maximum amount, in proportionate to the value of the equity. For good houses situated in the real estate booming locations, home equity loan lenders used to provide high appraisal of even 125%. In most cases at least 80% appraisal is always provided. The attractive interest rate is another advantage of the home equity loans. Usually the interest rate of the home equity loan is selected in fixed rates.

Among the pros of the home equity loan, the most pronounced benefit is the tax deduction. The amount taken as home equity loan below $100,000 is exempted from the tax payment. Hence, the equity loan can be used to raise money for any purpose such as emergencies, debt consolidation, medical loan, home improvements, education or any personal reasons. The repayment schedule of the home equity loan can be conveniently selected as 10 years or more, which can be even extended up to 30 years. Moreover, the home equity loan processing has become easy and less time consuming with the introduction of internet and online lenders. The verification of the title deed and the credit score are usually the time consuming steps. However, in the online processing these verifications has become limited and the home equity loan approval is done with in minimum period of time.

However the home equity loans are not devoid of cons. One of the major cons associated with home equity loan is the risk of losing your favorite home, if you make any default in the payment. The lenders will not be bothered much about the repayment as they will be focused to foreclosure the property. Hence the borrower is advised not to take large amount as home equity loan. Home equity loan is also not advantageous for persons, who are in the beginning of their career since they cannot easily shift their position, if they have a liability. However, the people in the proximity of the pension also cannot manage a long run home equity loan. In the home equity loans, the borrowers have to keep in mind the fact that the long repayment schedule will cost you more interest. To add on, if you are unlucky the home prices will slashes down and when you are about to sell the home, it will be a loss.

In brief analysis of the pros and cons of the home equity loan, it is clear that home equity loan will be advantageous for the larger loan amount. However, you have to be careful about interest rate and other conditions involved in the deal.

While there are all kinds of benefits that are associated with learning and furthering your educational goals there are even more benefits to those who wish to pursue online learning in order to achieve those goals. I hope you will find that many of these benefits are quite enlightening and carefully consider whether or not online learning for your secondary education needs will be in your best interests.

1) Convenience. This is a word we are quite familiar with. Right along with instant gratification. We are a society of people who have lived with drive thru banking and fast food and are rapidly moving in the direction of drive thru pharmacies and dry cleaning. We live in a fast paced world and when we can work education into our busy schedules and on our own terms we find that this is something we tend to like a lot. I recommend that you watch for a growing number of online classes and online students in the coming years as more and more professionals decide to further their degrees and their careers.

2) Flexibility. You can take these classes or do the work during your lunch break, while the kids are practicing soccer, or while cooking dinner (depending of course on how well you multitask). You do not need to be in the classroom every night at 6:00 pm for the next five years in order to get the same degree of education. This by no means indicates that you will not have to do the work. The work will not change nor will the fact that you have a limited time in which to complete the work. What will change is that you will have the option of doing the work in the morning, afternoon, or after those 2 a.m. feedings when you can’t seem to get back to sleep.

3) Location. There isn’t enough that can really be said about this. Online education comes to you wherever you happen to be able to connect to the Internet. Whether you are at home, at work, or your favorite Internet cafe.

Author: Dominion Partners

Dominion Partners Financials 2020 and Jan -Feb 2021

Have You Considered Investing In Land

Pros and Cons of Home Equity Loans

The Benefits Of Online Learning

Build Partnerships.
Build Wealth.
Build a Legacy.

Build Partnerships. Build Wealth. Build a Legacy.

Build Partnerships.
Build Wealth.
Build a Legacy.