IRS, Tax related strategies--Traders Message Board

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Strategies & Market Trends : IRS, Tax related strategies--Traders

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To: Daniel Elkayam who wrote (297)	5/20/1998 7:50:00 PM
From: Colin Cody	Read Replies (2) of 1383

A General Partnership, or Joint Venture would be fine. If the parties are all from the same State, the tax reporting would be straight-forward. Your concern should be the LEGAL LIABILITY. They need protection that you will return their investment and any profits... You need protection from them in case you fail to return profits or their investment. You could/should see a lawyer to write up a partnership agreement that provides for these. Many people don't bother with a lawyer. Perhaps it is only "small" potatoes being put into the kitty, and it isn't worth the legal fees. Colin

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