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I'm in a 50-50 partnership with a small business.. My

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partner wrote checks from the...
I'm in a 50-50 partnership with a small business.. My partner wrote checks from the business acct without my knowledge.. We have worked out the issues of this on a personal level, however, the amount taken exceeds the amount I recvd in a partnership as our pay... We are doing our taxes in October as we asked for an extension... How do we handle the indifference in pay in a legal fashion on our taxes and/if/what would be the outcome... Laws broken? We have amended our relationship but do not know how to handle this money difference as we prepare our business and personal taxes... Need help ....please and thank you
Submitted: 1 year ago.Category: Tax
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Answered in 1 minute by:
9/1/2016
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 1 year ago
Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2,393
Experience: Certified Public Accountant
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Hi, my name is Mark. I will be happy to help you with your question. I am sorry that this happened. How were the checks treated by the partnership. Did these reduce your partner's capital account?

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