Company: BLNE
Filing Date: 2025-01-08
Form Type: S-1/A
Source: 0001493152-25-001415
Chunk: 217

Company: Beeline Holdings, Inc.
Filing Date: 2025-01-08
Form: S-1/A
Chunk 217
---
 PAYABLE

As a service to its clients, Beeline administers escrow deposits representing undisbursed amounts received for payment of settlement and title services. Cash held by Beeline was $ 375,765as of December 31, 2022, and $ 574,012as of December 31, 2023. Nimble Title held $ 23,447in escrow as of December 31, 2023. These amounts are not considered assets of Beeline and, therefore, are excluded from the Consolidated Balance Sheet. Beeline remains contingently liable for the disposition of these deposits.

NOTE 13 – INCOME TAXES

Income Taxes

The Company maintains deferred tax assets and liabilities that reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The deferred tax assets (liabilities) at December 31, 2023 and 2022 consist of net operating loss carryforwards and differences in the book basis and tax basis of mortgage loans and intangible assets.

The items accounting for the difference between income taxes at the effective statutory rate and the provision for income taxes for the years ended December 31, 2023 and 2022 were as follows:

Schedule of Difference Between Income Taxes at the Effective Statutory Rate and the Provision for Income Taxes

| Statutory Rate Reconciliation       |     | 2023 |            |   |     |        |   |     | 2022 |            |   |     |        |   |
|:------------------------------------|:----|:-----|-----------:|:--|:----|-------:|:--|:----|:-----|-----------:|:--|:----|-------:|:--|
| Loss                                
 before taxes                        |     | $    | (2,288,942 | ) |     |  21.00 | % |     | $    | (2,215,970 | ) |     |  21.00 | % |
| Effect of permanent differences     |     |      |      4,820 |   |     |  -0.04 | % |     |      |   (124,870 | ) |     |   1.18 | % |
| State taxes, net of federal benefit |     |      |   (498,553 | ) |     |   4.57 | % |     |      |   (510,933 |