Member Since: 16th Oct 2012
27th Feb 2017
I think you are in the same situation as any other person to whom a debt is owed and you have the same remedies e.g. Small Claims etc..
26th Nov 2016
I would suggest a formula such as market value less 20%
5th Oct 2016
In Australia, they have a simple rule applying to such a problem. The Tax Office insists on income being split according to the ownership proportions i.e. joint holders must split income equally. This is similar to the rule that a person who receives income cannot assign that income to someone else and so reduce the overall tax burden.
6th Jul 2016
You say you have little experience with software preparation software. Why not remedy the lacuna by taking a course in one or more of the popular software packages such as Xero, Sage etc?
16th May 2016
The written partnership agreement represented the agreement on a particular moment in time, on a particular day. There is no guarantee that it represented the agreement on every subsequent day. But often the written partnership agreement is drafted by an outsider, using pro formas, so that even then it did not represent the actual agreement in existence. The agreement between the partners is a dynamic thing and not a static thing.
14th May 2016
Why not take the bull by the horns and advertise your services as a self-employed bookkeeper? With your qualifications, it should not present and difficulties.
14th May 2016
A partnership is based on an agreement or contract. The partners may agree to a) share profits and b) share any capital distribution in any way they please.
An agreement in writing is only relevant as evidence of the agreement.
25th Apr 2016
The general principle regarding clothes is that any clothes that can be worn both at work and elsewhere are not deductible. But any clothes that can normally be worn only at work such as uniform, overalls,aprons etc are deductible.
With regard to other expenses, if they were incurred solely for the job and provided no benefit outside of the job, then they would be deductible.
6th Mar 2016
Nail your colours to the mast! Do not try to be all things to all people.
Say it loud and clear and make it known far and wide that you do not prepare false accounts.
1st Dec 2015
Most tax jurisdictions do not allow a partnership split of income which is highly artificial e.g. a high-earning consultant splitting his practice income 50/50 with his receptionist wife.