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I have a business selling exotic cars. I have an investor who pays for the cars I sell them and we split the profit. He has been paying me direct to my name and I have not yet set up a corp for him to pay too. I have been paying for the expenses out of my pocket such as Advertising, cost to rent a storage facility, work on the cars etc etc. All of this has been coming out of my personal checking account. I realize I need to be able to write all of this off for tax purposes and eventually create an Incorporated account to both receive and pay out money, I will need help in first figuring out what to do with the fiances I have already received and bills I have already paid out VIA my personal account and then find out how to create the best possible corporation to manage it all.
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