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Imlmpressed
Guest
i would like to set up a small remodeling business with a friend. one problem though, this friend has some past tax problems he still needs to work out with the irs. how can i structure our business so that our business or me myself will not be caught up in these past problems? such as bank levies, etc.,(not sure what they do), that might come about due to his past problems. neither of us has a problem with NOT being an equal partner. so i'm not sure how to set the business, checking accounts, etc. up. but i'm sure i am right in assuming he probably shouldn't be the "primary" in this business due to his problems. the business will only be ourselves and no employees, unless one of us needs to be listed as an employee/general contractor. and which would be better, employee or general contractor, if you don't think a partnership is the right thing for us? just want to do our "thing" and make a little living with what we like to do. so nothing "fancy" is needed. do you have any suggestions for the business setup/structure? hope i have been clear enough for you in what i am asking. if not, please let me know and i will be glad to try again. thanks for your time.