You are here

business with a cs partner

Glen of oz's picture

Hey i was wondering if anyone can help answer a question as the tax office and csa dont have a solid answer.if i go into business with a friend who currently pays cs to his ex how does this affect our tax as a business if we both take home a small wage and the rest goes into the business ,is he taxed before running cost removed?or just on his take home weekly wage?is the money able to be spent on the business?and and and......
would appreciate some input or a contact of a good accountant that can answer these questions please.

Comments

ltman's picture

Get a tax accountant or a tax attorney. Depending on where you live it will probably be a good idea to incorporate as an LLC. The cost varies from state to state.