Friend is making me pay taxes.!!!!!!!!

[Yao]

Re: Friend is making me pay taxes.!!!!!!!!

Hah, so the friend is claiming rights to other pieces of glass that were found later on the basis of buying you out of the first find? Pretty lame if you ask me, and the typical move of a really greedy fuck.

In my country, a deal made only by speaking it (without putitng it down on paper) is just as viable as a written contract, but it's harder to prove it. Don't know how it works over there, but if it's anything like it and you are two.... Then again: if yu pay the taxes, he will have to do that as well. The question then is wether he will make enough gains as opposed to the taxes he's going to pay to make it really worthwhile if you stand your ground.

[toasty]

Re: Friend is making me pay taxes.!!!!!!!!

Sorry I'm just getting to this thread, been on vacation for the last week or so. I'll defer to sightless on this, but in general you do need to prepare yourself for the idea that you're likely going to end up paying tax on it some way or another. You came into $20,000, and the government is going to want a piece of that -- that's life. If your goal is to minimize the amount you pay, hire a good accountant.

If it looks like you're staring down the barrel of a lawsuit, though, shoot me a PM.