Setting up a joint venture.

[KELLOGGS]

I have been approached to create a partnership, what precautions should I take and what's the easiest way to split the profits?

 

[msk19994]

Make sure he doesn't getoff with the funds and invest equally and then profits will be equal too

 

[KELLOGGS]

Does employing people from overseas complicate the legal side of things, taxes etc?

 

[clgo]

If you plan to deduct payments to outsourced workers, it might. However, if they are able to give you an invoice and receipt, then you may be able to deduct.

If you use a freelance website (ie: elance.com or freelancer.com, 99designs.com, etc) you don't need to worry about the invoice since you would be paying or depositing money into a US company which will give you an invoice.