splitting profits..

[DamicosLandscaping]

my buddy merged with me and now we are landscaping together, my questions is we are splitting it 60-40.. and if i make $10,000 in a month, how much does the company make and how much will we make to split it 60-40.?????.i heard you do it 1/3 profits 1/3 material, and 1/3 labor when bidding jobs.

[Team Gopher]

Hi DamicosLandscaping,

Isn't that all up to you and the deal you worked out with your friend? Would one of you take $6,000 and the other $4,000? Or how did you work it out?

[DamicosLandscaping]

yea we would slpit it like that...but what stays in the business account for the business? a % or what ever i want?

[rodfather]

You need to talk with an accountant about this IMO.

[Equipguy]

You guys need to get something in writing like a partnership agreement and see a CPA