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Updated almost 7 years ago,

Eric L.'s profile image
Eric L.'s profile image
Eric L.
  • Rental Property Investor
  • from Clarksville, TN
  • Member since Aug 24, 2014
  • Posts 85
  • Votes 37
  • Experience 12 Yrs
  • Investments 6
Connect

User Stats

85
Posts
37
Votes
Eric L.'s profile image
Eric L.'s profile image
Eric L.
  • Rental Property Investor
  • from Clarksville, TN
  • Member since Aug 24, 2014
  • Posts 85
  • Votes 37
  • Experience 12 Yrs
  • Investments 6
Connect
Eric L.
  • Rental Property Investor
  • Clarksville, TN
37
Votes |
85
Posts
Real Estate Agent

Taxes on partner premiums

Eric L.
  • Rental Property Investor
  • Clarksville, TN
Posted

Just wondering what the tax implications are of paying a partner/contractor who is a non-owner a premium for the work done with a flip? There is no legal partnership formed or LLC, but should there be? I do realize it's usually a good idea, but would like input.

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