How to split the money for JV

by Erick Griffin

Posted: 11 years ago 5 replies

INTERNET MARKETING

I am looking for suggestions on splitting the income from a JV. Say if you partnered with someone and made some sales from a JV. What would be a good way for both partners to see how much was coming in and what was due to them for their role in the partnership? I have heard paypal will allow this but how is that setup? Or are there other resources out there?

Thanks
Erick

#money #split

Social App Zone 11 years ago

In my case, everything went through an accountant.

This made everything above board, legal and ensured taxation obligations were met.
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Erick Griffin 11 years ago

Thanks for the reply. This would be an online relationship possibly temporary in nature. I would want the accounting to be the same way.
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Patrick 11 years ago

You just need to open a "business" paypal account...

https://www.paypal.com/us/webapps/he...siness_account

But even before doing anything, I think you should just call paypal and explain your situation. Am sure they will help you out.
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Erick Griffin 11 years ago

Thanks Patrick I have heard this as well and i will look into it.
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SHOPIFY CASE STUDY: How I made $10,796 in 4 days from selling dog masks!?
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rodsav 11 years ago

I would check with Paypal or whichever Merchant account you do business with. If you have a personal Paypal account all of your income is going against your social security number as of now. It all depends on how many joint ventures you will be doing whether you should setup a business account. Erick - If you need to or want to setup a business account PM me - I can help you.
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How to split the money for JV

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