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#1
07-15-05, 01:15 AM
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From a tax perspective, since this was a joint venture, you shouldn't bear the weight of paying all the taxes. Make sure your backer pays the taxes on his percentage. (For some reason, I doubt he'll mind!)
I suggest visiting an accountant before submitting next year's taxes, just to be on the safe side.
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#2
07-15-05, 01:31 AM
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Oh, I'll be visiting an accountant this week. Don't you worry about that.
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