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tax responsiblity, Welcome1 of 1 people found this helpful
WHO are you?? I would talk to your Accountant and or your Lawyer before getting involved with this friend.
I have to agree with Luckiest. However, I will say, that for some of these things you can also call the IRS. They are happy to handle certain queries anonymously over the phone.1 of 1 people found this helpful
The proper answer is this is wrong. If you ever had an audit of your bank account then you would have some explaining to do on why your taxable sales didn't match up.
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a vendor friend wants to use our credit card machine for his sales. we would charge him the $ charged us for the transaction and we would give him a check with info in memo section indicating it is his $....we would not report this amt as it is his income ..it would be in our records as stated ..is this proper.