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Money and Finances
Reply to "Taxes and Non-Equity Partnership"
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[quote=Anonymous]I've BTDT as a non-equity partner. Depends on your situation. Just shifting to a quarterly tax payment schedule is not too complex -- you just pay the quarterly taxes, and then properly report payments on your year-end W2. But when I was in that situation, we also had other factors that made it more complicated, like a partner ship K-1 with shared profits and deductions, and also multiple filings in many states. Those elements made tax returns more complicated than I was willing to confront, so switched to an accountant. First accountant suggested by the firm cost something like $2300/yr, but I finally realized I was being ripped off, so I switched to one that charges only about $1200. I have some friends with even cheaper ones, so I'm hoping to switch again.[/quote]
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