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Situation: Client A wants to buy client B's business for $0 down; to compesate, A will give %25 of net profit to B for the next 5years.
Three Questions: a)How will this transaction be recorded in the books? b) How will taxes be filed? c) What will the %25 payout be titled in the books?
Thank you for reading,
Eric
Three Questions: a)How will this transaction be recorded in the books? b) How will taxes be filed? c) What will the %25 payout be titled in the books?
Thank you for reading,
Eric