If you share the revenue with a 3rd party, should you be breaking this out as a commissions expense or a contra revenue? I was wondering what GAAP says about this.
Need more info as to the nature of the 3rd party relationship: 3rd party found you a client and gets a cut? 3rd party and you work side by side on same or different tasks?
Hi @kirby ! Sorry to high-jack this thread...I have a similar question and I thought I'd hop on here. I'm a new business and I want to give $10/ Christmas Tree sold to a non-profit. That non-profit will offer their parishioners (it's a church) a code to enter at checkout to indicate that that sale came from them. Is this a commission? Is this a donation? my business is an LLC and ideally I'd like to report the $10 as an expense so I'm not taxed on it. How do I proceed?
Want to reply to this thread or ask your own question?
You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.