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Foreign business partner - payment question

Tipp-Boy · 2009-08-31 12:34:00

Hi, I run a small business and have recently joined up with a partner in the United States. The model is very simple, he generates leads and contacts and any profit made is split 50:50. Now this is just in its infancy, but what is the most efficient way to treat these payments; would they be treated as commission (but he…

31-08-2009 12:34pm

#1

Tipp-Boy

Registered Users, Registered Users 2 Posts: 76 ✭✭

Join Date: January 2009

Posts: 54

Hi,
I run a small business and have recently joined up with a partner in the United States. The model is very simple, he generates leads and contacts and any profit made is split 50:50.
Now this is just in its infancy, but what is the most efficient way to treat these payments; would they be treated as commission (but he is not an employee) or would we classify the payment as an expense/marketing cost.
Any thoughts/guidance would be appreciated.

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Comments

#2 31-08-2009 2:31pm

Mr Clonfadda

Registered Users, Registered Users 2 Posts: 372 ✭✭

Join Date: October 2008

Posts: 367

It shouldn't matter what it is called but it would be better if he invoiced you. You will need to be able to show you have paid him into a foreign bank account

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