Do know you about accounting and partnership?
113127
Please go through this notes to have your doubt cleared....\n\nhttp://www.futureaccountant.com/partnership-accounts/study-notes/\n\nhttp://www.futureaccountant.com/\nhttp://www.schoolingkids.com/
579218
Definitely yes to the question of a contract between you. A contract should always be drawn up when forming a business partnership anyway. If your fiance is a reasonable person he will see the logic of such an arrangement.\n\nIn any event, I don't see why you shouldn't start up a business if you think it is an intelligent thing to do, given factors such as your experience, drive, financial backing, etc. Don't start a business just for the sake of starting one up. Make sure you have the drive and expertise to make it a go, and don't be surprised if the money doesn't start rolling in right away. More often than not, it takes a lot of time to make it a go.\n\nI wish you both well in your future lives!
262437
To know and understand what accounting really is take help from this site...\n\n\nhttp://www.futureaccountant.com/\n\nhttp://www.schoolingkids.com/
59029
If you know you will be auditing a specific area (i.e. financial institutions, benefit plans, etc.) the AICPA puts out "Audit and Accounting" guides which are a great reference.
383060
yes but it's better if you get an accountant to do it
763303
They are relatively similar in that company income is passed through to the owners. However, with an S-Corp an owner is expected to report a "reasonable salary" where a partnership doesn't have that requirement. \nTaxing requirements for different types:\nhttp://www.irs.gov/businesses/small/article/0,,id=98359,00.html\n\nYou will of course to talk to an accountant before you decide because states have different requirements after that. But Tax advantages and disadvantages are not the best differentiators when determining your business structure. An S-Corp offers more flexibility in the long run and other benefits on top of that. If you are wavering on the two you should look at LLC as well.
500712
Itzahk Stern, if by business partner you mean his Jewish accountant who helped make The List.  And if you mean in the movie, since in real life it was someone else who helped make the list.
848169
Read your Accounting book, I'm sure it's all covered.
170503
Partnerships strugle. Especially if one person isn't lifting their portion of the work. If your partner is not willing to sell or give up his portion, you can't kick him out of your partnership without first desolving the company. Additionally, the risk is shared. So if your partner screws up, you're held responsible.\n\nPartnerships can be good if both communicate and are clear on their expectations of each other. Specifying criteria in writing before creating the business partnership will help you out in the long run.
1010450
Go to an accounting service and ask. You're going to have to get one anyway. He or she will set you up with a package.\nMine was $800 up-front to incorporate with her sevices and $300 a month after that. It was well worth it and saved my butt many times.
219542
No.  Number crunching is only a very small part of what an accountant does.  Accountants must know or have a general understanding of generally accepted account standards of the United States (GAAP).  Furhter, it depends on what type of accountant you are refering to.  An auditor must know the standards published by the Financial Auditing Standards Board.  If they audit governments they must know GASB's and GAGAS Standards.  If they are a tax accountant, they must be very familiar with the internal revenue code (which by the way is very long and very difficult to understand at times).  If they work in the private sector they must know GAAP and the process used within their company.  Basically accountants deal more with accounting and auditing standards than actual numbers.
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try this site for help on accounting.\n\n\nhttp://www.futureaccountant.com/accounting-process/
593487
Become a partner of a law firm.
405781
maybe, but we need to know more about you and your business.
96896
Here's what Nolo has to say:\n\nPartnership: "a partnership is simply a business owned by two or more people that hasn't filed papers to become a corporation or a limited liability company (LLC). No paperwork needs to be filed to form a partnership -- the arrangement begins as soon as you start a business with another person"\n\nLLC: "LLCs are similar to corporations because they also provide limited personal liability for business debts and claims. But when it comes to taxes, LLCs are more like partnerships: the owners of an LLC pay taxes on their shares of the business income on their personal tax returns."\n\nI listed the link to the entire article below.\n\nHope that helps! I wish you much success & happiness in all your ventures!
217360
Partners have unlimited liability.  \nPartners must share all profits.  \nThe partners may disagree and can lead into legal and personal disputes. \nThe life of the business is limited.   \nRequires filing a separate partnership tax return
700334
Basically you have to buy out your partner's share.  The partnership agreement probably spells out how this is to be done.\n\nIf you do not have a written partnership agreement, at least put the dissolution of the partnership in writing, in the form of a contract you both sign, and have it notarized.  Then it either [former] partners' heirs have a question about the assets of the partnership, you will have it all in writing.