Tax question about a JV

I am currently doing a JV with someone , so let's say they are getting 60% and I'm getting 40%.

How would this work since they live outside the united states , Is there a way to claim him on my taxes as an expense or what?

if the network is reporting over 100K a year under my SSN and I'm realistically only making 40% of that, that isn't good

any tips? because I suck at tax stuff

Why don't you form a new company which has a international partner. This way, you can show that, you take out only 40% of the profits and your tax liability will be on the 40% only.

I m sure there is a legal way of doing this right. Best is to contact a attorney who specializes in International JV

searchmacs said:

Why don't you form a new company which has a international partner. This way, you can show that, you take out only 40% of the profits and your tax liability will be on the 40% only.

I m sure there is a legal way of doing this right. Best is to contact a attorney who specializes in International JV

Click to expand...

Yea I was thinking the same thing...no sense the OP getting jammed with 100% of the tax burden because the checks come in his name only.

JQ