Cullen and Katie: Shifty eyes and constant lies | Part #25

[Boymomma123]

I just highly doubt they are even thinking about taxes yet. They really have seemed to blur the lines between their business and their personal expenses. They always seem to leave out a lot of expenses from their personal budget that I wouldn't think necessarily qualified as business expenses.



Sent from my SM-N960U using Tapatalk

[twinmama]

The willful ignorance and laziness with these two is hard to take.

My husband and I have two kids, and I work full-time from home in a job for a global corporation, but I travel on occasion and commute to the office for random events and meetings. My husband commutes to the city every day (NYC). We have toddler twins. Trying to cram in everything we need to do to be employees, parents, and run a household is HARD. That's why it's hard to watch C&K - they are trying to take the easy way out of everything and it makes it that much more frustrating for people who are working hard.

Get a job. Heck, they should both get jobs. The kids DONT need to be in daycare. You don't need two cars. What are these two doing all day?

Oh, in addition to the above, we just bought life insurance and we're closing on a house refinance next week. And these two can't even get a part-time job to supplement their "business?"

[rosie_dalia]

Everyone breaking down their budget is forgetting about TAXES!!!!!!! They have to pay everything themselves because they are self-employed. They are in dip, dip doo-doo this year if they haven't saved anything for the IRS! When I was fully freelance I would save 40-ish percent of my income and put it immediately in a savings account. I guess they can file an extension, but you are still expected to pay something by April 15. Also, don't they already owe back taxes???

They are in some VERY serious trouble and they seem to laugh it all off. They really should STOP ALL SPENDING!!

No, not forgetting taxes (I’m an accountant . But the taxes should be paid out of their company budget, I’m talking their personal budget. They have an incorporated company, hopefully they’re keeping the tax money owed in the company account. It’s cullen and Katie so who knows but either way, taxes wouldn’t come off their personal budget.

They still have to do their personal taxes too. I wonder if they are taking any withholding when they "pay themselves" a paycheck??? It didn't sound like it. It sounds like they just transfer money from their business account to their personal account. That's not good.

Also, they've said they often haven't had enough $$$$ in their business account to pay themselves, so it would be reasonable to think they've not saved a dime for taxes.

[FakingIt_MakingIt]

Everyone breaking down their budget is forgetting about TAXES!!!!!!! They have to pay everything themselves because they are self-employed. They are in dip, dip doo-doo this year if they haven't saved anything for the IRS! When I was fully freelance I would save 40-ish percent of my income and put it immediately in a savings account. I guess they can file an extension, but you are still expected to pay something by April 15. Also, don't they already owe back taxes???

They are in some VERY serious trouble and they seem to laugh it all off. They really should STOP ALL SPENDING!!

No, not forgetting taxes (I’m an accountant . But the taxes should be paid out of their company budget, I’m talking their personal budget. They have an incorporated company, hopefully they’re keeping the tax money owed in the company account. It’s cullen and Katie so who knows but either way, taxes wouldn’t come off their personal budget.

They still have to do their personal taxes too. I wonder if they are taking any withholding when they "pay themselves" a paycheck??? It didn't sound like it. It sounds like they just transfer money from their business account to their personal account. That's not good.

Also, they've said they often haven't had enough $$$$ in their business account to pay themselves, so it would be reasonable to think they've not saved a dime for taxes.

It depends, here in Canada you can either take a wage, which would mean you need to pay the payroll taxes on that (through the company). Dooing it that way often results in minimal amounts owing personally.
Or, you can take money straight out and get a dividend, which means youre going to owe personally.
Hopefully they have a decent accountant who is telling them how much needs to be saved for taxes, but knowing Cullen and Katie its doubtful they would listen anyways.

I just didn't factor taxes in because ideally theyre taking a wage and paying those taxes corporately so it doesn't need to be part of their personal budget. Their personal budget is so far in the negatives anyways that they couldn't factor taxes in there if they had to.

[rosie_dalia]

No, not forgetting taxes (I’m an accountant . But the taxes should be paid out of their company budget, I’m talking their personal budget. They have an incorporated company, hopefully they’re keeping the tax money owed in the company account. It’s cullen and Katie so who knows but either way, taxes wouldn’t come off their personal budget.

They still have to do their personal taxes too. I wonder if they are taking any withholding when they "pay themselves" a paycheck??? It didn't sound like it. It sounds like they just transfer money from their business account to their personal account. That's not good.

Also, they've said they often haven't had enough $$$$ in their business account to pay themselves, so it would be reasonable to think they've not saved a dime for taxes.

It depends, here in Canada you can either take a wage, which would mean you need to pay the payroll taxes on that (through the company). Dooing it that way often results in minimal amounts owing personally.
Or, you can take money straight out and get a dividend, which means youre going to owe personally.
Hopefully they have a decent accountant who is telling them how much needs to be saved for taxes, but knowing Cullen and Katie its doubtful they would listen anyways.

I just didn't factor taxes in because ideally theyre taking a wage and paying those taxes corporately so it doesn't need to be part of their personal budget. Their personal budget is so far in the negatives anyways that they couldn't factor taxes in there if they had to.

I'm seriously wondering if they have an accountant. They keep saying they "got bad advice," but from whom??? A friend?! YT friends?! It seems like a real accountant would have helped them avoid this terrible situation.

I'm pretty sure they are headed toward bankruptcy.

[Boymomma123]

They got their gift cards according to Cullen's Instagram. They got an awful lot of amazon gift cards did they say what that was about? I understand the Walmart and shell gift cards but anything from amazon would seem like an unnecessary splurge.

I still cannot believe they are even considering easter presents and gifts for Katie's birthday when they can't pay their mortgage.

I am not really familiar with bankruptcy laws but couldn't they just file bankruptcy as a business? They said their business is an LLC I am not sure if that makes a difference to whether or not filing bankruptcy as a business would hurt their personal finances.


Sent from my SM-N960U using Tapatalk

[FakingIt_MakingIt]

They got their gift cards according to Cullen's Instagram. They got an awful lot of amazon gift cards did they say what that was about? I understand the Walmart and shell gift cards but anything from amazon would seem like an unnecessary splurge.

I still cannot believe they are even considering easter presents and gifts for Katie's birthday when they can't pay their mortgage.

I am not really familiar with bankruptcy laws but couldn't they just file bankruptcy as a business? They said their business is an LLC I am not sure if that makes a difference to whether or not filing bankruptcy as a business would hurt their personal finances.


Sent from my SM-N960U using Tapatalk

I think their house is in their own names, and that's what theyre behind on. The business debt (credit card and suburban) are huge amounts of debt, but theyre current.
I wonder too if theyre (Katie) lying about the credit card being a business card, if its not also in their own names...if it was a business expense then that $1000 minimum payment should come from the company budget (before a paycheque is written to either of them)… they need 2 distinct budgets. The company one and their own. And if the company debt is so high they cant take a substantial enough paycheque to pay personal debt then they need to get additional jobs.

I cant imagine being OK with a birthday gift knowing my financial situation is such a disaster.

[MilkingTheClicks]

Considering these two are depending on clicks to pay the bills you would think they would put out a video everyday. They missed Monday and yesterday. Since they don't "work" on the weekend putting up a 15 min video Mon-Fri shouldn't be too hard. No clicks means no dollars.

I don't follow them on instagram so I don't know but are they currently posting any ads overthere?

[Haulnarse]

They got their gift cards according to Cullen's Instagram. They got an awful lot of amazon gift cards did they say what that was about? I understand the Walmart and shell gift cards but anything from amazon would seem like an unnecessary splurge.

I still cannot believe they are even considering easter presents and gifts for Katie's birthday when they can't pay their mortgage.

I am not really familiar with bankruptcy laws but couldn't they just file bankruptcy as a business? They said their business is an LLC I am not sure if that makes a difference to whether or not filing bankruptcy as a business would hurt their personal finances.


Sent from my SM-N960U using Tapatalk

I think their house is in their own names, and that's what theyre behind on. The business debt (credit card and suburban) are huge amounts of debt, but theyre current.
I wonder too if theyre (Katie) lying about the credit card being a business card, if its not also in their own names...if it was a business expense then that $1000 minimum payment should come from the company budget (before a paycheque is written to either of them)… they need 2 distinct budgets. The company one and their own. And if the company debt is so high they cant take a substantial enough paycheque to pay personal debt then they need to get additional jobs.

I cant imagine being OK with a birthday gift knowing my financial situation is such a disaster.

The problem is, the “business credit card” was likely used for more personal than business.

They have blurred the lines between business and personal. I doubt they have taxes saved, they arent paying their mortgage, why woukd they bother about taxes!

[Ducklings4]

I don’t believe they have taken anything seriously. When my boys wrestled I videoed or photographed all of their matches. Putting a lens between me and the matches made it easier for me to watch. I feel they are doing the same thing, just filming a show, coloring pretty envelops and talking about bills. They are living in a fantasy land. They have not looked towards the future at all. They will owe money when they sell the house. They won’t sell their suburban, which if maintained well they could get a decent price. They insist on celebrating holidays with gifts (really St Patricks Day wear green and call it a day). When they rent they will have to have first and last months rent plus a pet deposit. They have not looked at anything through mature adult eyes.


Sent from my iPhone using Tapatalk

[Boymomma123]

Considering these two are depending on clicks to pay the bills you would think they would put out a video everyday. They missed Monday and yesterday. Since they don't "work" on the weekend putting up a 15 min video Mon-Fri shouldn't be too hard. No clicks means no dollars.

I don't follow them on instagram so I don't know but are they currently posting any ads overthere?

They barely post on Instagram very much these days, too busy #working! They get out of their job as influencers what they put into it which is not very much. Katie talked about posting more content being their side hustle but they have yet to follow through with that claim.

Sent from my SM-N960U using Tapatalk

[ICantEven]

I don’t believe they have taken anything seriously. When my boys wrestled I videoed or photographed all of their matches. Putting a lens between me and the matches made it easier for me to watch. I feel they are doing the same thing, just filming a show, coloring pretty envelops and talking about bills. They are living in a fantasy land. They have not looked towards the future at all. They will owe money when they sell the house. They won’t sell their suburban, which if maintained well they could get a decent price. They insist on celebrating holidays with gifts (really St Patricks Day wear green and call it a day). When they rent they will have to have first and last months rent plus a pet deposit. They have not looked at anything through mature adult eyes.


Sent from my iPhone using Tapatalk

You're so right. By filming it they're also getting lots of affirmation and encouragement from their audience, which is drowning out anything that reminds them what a major problem they have on their hands.

[rosie_dalia]

Why are they even so CRAZY about every holiday??! Was that something Katie's mom instilled in her? I "maybe" get a few decorations at the Dollar Tree and call it a day! (And I also save them for the next year.) They act as if they need to spend $100 for just any reason. It's weird.

It really does seem like it's Katie who is causing most of the debt issue. She's trying to live like her mom and sister, but she married a dud.

[Lovethesnark]

I believe they purchased the house and the car through their LLC so I assume payments for both plus a portion of their utilities and insurance are being paid from their business funds as well as the business credit card. That’s why their numbers don’t add up. They aren’t worried about losing money on the house because they will claim it as a business loss and avoid paying taxes.


Sent from my iPhone using Tapatalk

[lmmomSD]

Why are they even so CRAZY about every holiday??! Was that something Katie's mom instilled in her? I "maybe" get a few decorations at the Dollar Tree and call it a day! (And I also save them for the next year.) They act as if they need to spend $100 for just any reason. It's weird.

It really does seem like it's Katie who is causing most of the debt issue. She's trying to live like her mom and sister, but she married a dud.

Yeah, I don't get the St. Patrick's Day thing at all. They're not Catholic, and are they even Irish? It's ridiculous to spend money on it! Easter is pretty silly too. I get that it's a big church holiday, but they don't need to go crazy on the secular stuff like baskets and toys. Since they go to church, take the time to teach the kids about the true meaning of the day and maybe explain to them that Jesus's sacrifice is present enough. (Sorry to get religious, but they are supposedly Christians). Color some eggs. The kids don't need ginormous Easter baskets. They need a stable home with parents who aren't stressed out about the house being taken away.
They're morons.

Sent from my SM-G960U using Tapatalk

[rosie_dalia]

Why are they even so CRAZY about every holiday??! Was that something Katie's mom instilled in her? I "maybe" get a few decorations at the Dollar Tree and call it a day! (And I also save them for the next year.) They act as if they need to spend $100 for just any reason. It's weird.

It really does seem like it's Katie who is causing most of the debt issue. She's trying to live like her mom and sister, but she married a dud.

Yeah, I don't get the St. Patrick's Day thing at all. They're not Catholic, and are they even Irish? It's ridiculous to spend money on it! Easter is pretty silly too. I get that it's a big church holiday, but they don't need to go crazy on the secular stuff like baskets and toys. Since they go to church, take the time to teach the kids about the true meaning of the day and maybe explain to them that Jesus's sacrifice is present enough. (Sorry to get religious, but they are supposedly Christians). Color some eggs. The kids don't need ginormous Easter baskets. They need a stable home with parents who aren't stressed out about the house being taken away.
They're morons.

Sent from my SM-G960U using Tapatalk

I was at the Dollar Tree today and they have some fantastic Easter stuff. For both kids there is NO REASON they'd need to spend more than $20. Even eggs at Aldi were 87 cents today. (Yes, Easter is a long way off, but you all understand.)

I don't think they realize they are BROKE and POOR at the moment—especially Katie, who has probably never been poor or broke. I was so broke and poor in my 20s with student loans and debt that I can't really relate to their FAKE struggle right now. They didn't even have student loans (lucky SOBs) and managed to get THIS FAR into debt?

[Haulnarse]

They haven’t been able to film cos precious princess gaines has been sick ffs film in another room, put her to her bed instead of letting her sleep on the couch.

Why the fuck arent they doing their own yard work?? Too busy?? Too prissy to get your hands dirty?? Fuck me, she has an excuse for everything!!

Im sorry pedisure, dog bones, weird caffeine additives and soy melts are not essentials if gaines needs pedisure im sure her doctor would have it prescribed

“Its $4 and its okay”..... lady please - you have $100k in debt, “$xyz its okay” at every shop is where you have gone wrong!!

[honeybear]

They are so dumb. Not one person said they need to be a one car household. People are just saying they need to sell the one car because the monthly payment is ridiculous.

Sell it and buy a beater for 5,000 or less. What's the problem!? You dont need to be riding in style. You're trying to pay off debt dang

That video made it obvious they are complete MORONS

Sent from my SM-G975W using Tapatalk

[WatchinTheWreck]

A few observations.

1) They are paying $411 in tithes twice a month. Once when Cullen gets paid and once when Katie gets paid. So $822 to the church each month.

2) A lot of alcoholics tend to crave sweets if they are in recovery (my husband is an addictions counselor) so if they are eating sweets at night that is normal if they are in recovery.

3) Katie is fast and loose with the numbers. It is easy to talk fast and do a lot of double talk to make it sound like you are doing something special. My guess is that she doesn't want Cullen to know the real numbers. I wonder if Cullen has sat down with each bill and the bank statement to understand what is really going on.

4) They are handling two budgets - business and personal yet when they talk it is all intertwined. I hope with the new checking / savings account they work on that.

5) I believe they have exaggerated their income because they don't want other YTer's / influencers to know how little they actually make.

6) Katie isn't willing to sacrifice anything. I'm sure they are spending less now while in this "debt disaster" but that is only because the credit card is maxed out and there isn't any cash. I give Cullen credit for at least hitting FB marketplace when Katie finally filled him in on the dire financial situation. He doesn't get a pass because he should have been involved in the budgeting the entire time.

7) Getting rid of the Suburban ($900 payment + $200 insurance + $50 tags (probably around $600 a year), taking Gaines out of Gynmastics $100 per month, taking the kids out of daycare $800 added together is more than half of their mortgage payment per month and in the tithes and they almost have the mortgage. I'm sure there are a ton of other things that could be cut immediately like audible, etc and at least the kids would have a secure roof over their heads until the house sales. Of course there are probably 50 other things they haven't mentioned they are probably spending money on.

8) I really hope they can learn from this and end up prosperous.

9) I have a question. Have they been tithing all alone? Or is this a way to get God to rain down money?

You know you pointed out something I was missing. I kept thinking they were giving $411 a month to the church, but 10% of their pay is double that. I am just blown away how they can think giving $822 a month to the church when they cannot afford the mortgage is even thought to be a good idea! I mean how absolutely absurd can someone be? They won’t allow Brooks to do an activity, but are adamant that Gaines still do gymnastics and give $822 a month to the church!!! Are you f’ing kidding me??

[WatchinTheWreck]

Katie seriously said she didn’t want to pay off their lowest $300 debt because she wants to start saving for Christmas and other holidays coming up.. I just cant..

Also, Cullen briefly mentioned them finding a “$115 apple card” and then the video cut and nothing else was said about it. I just thought that was weird..


Sent from my iPhone using Tapatalk

I couldn’t believe that either! Why not take those Walmart and Amazon gift cards they got and put those away for Christmas?