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Posts Tagged ‘Partnership’

3 of us had a partnership in 2006 which profited $60,000 split equally with equipment purchased totaling $20,000. If we want to add a 4th partner who will not be investing but has helped us make money in 2007 (gross $40,000 so far), how can we do this fairly. We also have $80,000 worth of equipment that we purchased in 2007.
3 of us had a partnership in 2006 which profited $60,000 split equally with equipment purchased totaling $20,000. If we want to add a 4th partner who will not be investing but has helped us make money in 2007 (gross $40,000 so far), how can we do this fairly. We also have $80,000 worth of equipment that we purchased in 2007.

How could the new partner fairly become an equal partner?

or would it be better to have the new partner have a lower percentage… and based on the figures what would that percentage be?

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I think domestic partnership should replace marriage as the union recognized by the government.
Seeing how Marriage is primarily a religious ceremony/union, it should be treated by the government the same way becoming baptized is.

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I’m in a domestic Partnership and I’m interested in finding out if a pre nup is even possible. Thank You for your help!

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What are the positive and negative affects on the disassociated partner? Do I still have liabilities and responsibilities? Has anyone ever experienced filing a disassociation of partnership? I will be consulting a lawyer but want to hear other peoples experiences after filing this form. I have invested money into the company and am unsure if this filing will make it impossible to get the return of my investment.

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My partner had his company established and registered when I joined him in 50% partnership. Can I ask him to disclose everything about that business previous records? What am I suppose to check about established business which I would be partnering in?
Thanks.

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My sister-in-law and I have started our own business as wedding planners and floral designers. Our business is only a year old but we’ve already obtained a good clientel. This business is home-based and I was wondering if we need to fill out a General Partnership form. Also, do we need to obtain an employer tax id? Thanks for your help!

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Asides from the fact that it shields you from personal liability, what are the benefits of an LLC?

Can’t a general partnership write-off the business expenses etc?

Thanks in advance!

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Me and one of close friends have been talking for awhile about starting our on business. I want to weigh both sides of the coin before I decide if I want to enter into this partnership.

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My husband has just started a General Partnership.It is a Timber falling business.The partners are Independent Contractors.

We want each of them to get paid for what they earn.

Example:Contract is $295.00 a day for a 6 hr day of cutting timber. So if one partner puts in 10 days and the other partner puts in 9 days for one pay period, that is a check to our company for $5605.00. So, how we would want it to go is that the partner that put in 10 days gets $2950.00 before witholdings and the partner that put in 9 days gets $2655.00 before witholdings.

The partnership ownership is 50% for each of the partners. Does this mean that out of each check recieved for the business we have to split it 50% to each partner, even if one partner didnt work during that pay period? Or can we do it like we would like explained above?

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