I have recently been communicating in some depth with someone that has approached me, offering their marketing expertise and a partnership.
I've only recently gone into business for myself and am slowly, surely, finding the kind of work that satisfies my creative streak.
The person in question comes across as incredibly intelligent - has asked very relevant questions and appears to meet all the important criteria.
However, today after very lengthy and brain busting communications, they say this in their email to me...
[Quote:]
"Also please note that for whatever arrangement you and I make, whether it be a commission or mark up or whatever I will not be able to provide you with any invoicing on my end." [End]
They offered to, communicate and set up the deal with prospective clients - but I have to invoice the client and then pay the person who wants the partnership. Without invoicing them? I'm confused.
2007-01-15 12:43:01 · 4 answers · asked by riffyxraff 3 in Business & Finance ➔ Small Business
Wow, I would stay away from that person. They are probably hiding money. This arrangement would give you no protection should things go south, so please just walk away. A savvy business person, that was on the level, would always invoice.
2007-01-15 15:33:19 · answer #1 · answered by ValentineP 4 · 0⤊ 0⤋
Sounds like they want to keep it off the books.
Tell them you'll need their tax id number and will be sending 1099s next January. If they have a problem with that, then you know that's the case.
More importantly, you need documentation for your records to show that money is a business expense. An invoice is the best form of documentation. If not that, then you need a contract that specifies pricing, so you have something to show the IRS.
2007-01-15 21:04:27 · answer #2 · answered by Uncle Pennybags 7 · 1⤊ 0⤋
sounds a little shady....if you are running a legit business you need the documentation for everything that you do for tax purposes. If you want to still consider working with this individual, I would ask them the same thing you have asked here. If you accept the answer then go for it, if you still have reservations move on.
2007-01-15 20:51:18 · answer #3 · answered by irish eyes 5 · 1⤊ 0⤋
I would avoid them personally, but then again that is just me. I think it sounds shady
2007-01-15 20:52:50 · answer #4 · answered by Anonymous · 1⤊ 0⤋