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Owners Drawing

2 posters

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1Owners Drawing Empty Owners Drawing Thu Jul 13, 2017 6:09 pm

bb8


Arresto Menor

Hi,

I have a on going process of closing my partnership business. Here is the situation, we did not record in our books of accounts that we part every income since the two of us who only manage it and we do not have employee, it's only the two of us who operate the business, but in reality we part it in half. Now that we are going to close will there be a problem with bir based on the situation?

Regards

2Owners Drawing Empty Re: Owners Drawing Thu Jul 13, 2017 6:36 pm

xtianjames


Reclusion Perpetua

you mean to say you have a business but in BIR's eyes your business is not making any income since both of you are splitting the earnings? yes definitely you will have issues with BIR.

3Owners Drawing Empty Re: Owners Drawing Fri Jul 14, 2017 8:16 pm

bb8


Arresto Menor

Our business is making income and we are filling our taxes every month, the only thing we did not record to our books is when we split earnings

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