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Updated about 5 years ago on . Most recent reply

How should my partner and I split tools once we dissolve LLC?
My partner and I are working on a few more deals and after that we are parting ways due to location change. We bought a bunch of tools while doing work together and don't know how to split them. I own 60% of the LLC and she owns 40%. She has payed for majority of the tools but gets reimbursed 100% for her expense after each flip. Our initial plan was to pay her back 100% than have me pay her 40% of the depreciated value. I am not sure that is necessarily the right way to do this. We needed and have used every tool we bought for projects. How should we split the tools?! Let me know what you think! Thanks.