Bro, I make 3 products, a Testosterone-Booster called AndroGenerator, a natural anabolic compound called Omnibolic, and a natural pain reliever called Vicodene. We have 3 new products slated for release before Thanksgiving. I am a small business.
How do you package them? Pallet them? Load the truck? Who owns the truck? Who pays the shipping invoice if dad owns the truck? Who pays it if the truck is contracted and the pickup is made from dad's depot?
Do you pay rent for your office space? Can you claim deductions for your overhead if someone else has paid the bills? Do you pay a portion of the bills and claim the deduction?
Where does the paperwork from the storage depot go? With the rest or into the 'Ross' tray?
Is the depot an inspected facility approved for stocking consumables?
Who carries the obligatory insurances on the guys who move androgenerator from point a to point b? Your product but dad's employees (and possibly contractors). Who owns the burden of insurance there, Ross?
And you have no formal agreements in place for any of this or anything else? And your dad doesn't mind. He just goes along with everything and none of these issues ever come up, even at tax time.
Fishy, Ross. Fishy.
