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I was supposed to be 50% ownership of the business. for 10…

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I was supposed to...

I was supposed to be 50% ownership of the business. for 10 years my income generation was at least 2 times what i was getting paid. Last year the company grossed over 2 times the previous year, my income was only 20% more. The partner will not let me see all the invoices etc. my partnership is not in writing. how should I handle this.

Accountant's Assistant: Since estate law varies from place to place, can you tell me what state this is in?

Florida

Accountant's Assistant: Has anything been filed or reported?

Only taxes which he said after expenses there is only about 10000 left at years end. I got 4000 for taxes he said he too 3000 for his taxes. Is that wat you mean by filed

Accountant's Assistant: Anything else you want the lawyer to know before I connect you?

I want to get it in writing but i have not confronted him as yet.

Submitted: 7 months ago.Category: Tax
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Answered in 3 hours by:
12/17/2017
Tax Professional: Carter McBride, Certified Public Accountant (CPA) replied 7 months ago
Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,276
Experience: Adjunct Professor
Verified
Hey, I'm Carter, I'm a CPA and tax attorney.
Under Florida law, you do not need a written partnership agreement for a partnership to exist.
As a partner, you are typically able to get an accounting of income to be sure you are getting what is owed to you.
However, in your situation it sounds like you will need to sue your partner to get an accounting and to get any past due income.
Best bet would be to meet with a local attorney who handles business law to start the process.
Let me know if you need anything clarified. If not, please leave a rating. Thanks!
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Tax Professional: Carter McBride, Certified Public Accountant (CPA) replied 7 months ago

Hey! I just wanted to follow up and see if you have any other questions. If not, please leave a rating. Thanks!

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