A good friend of mine has a basement full of "stuff" picked from the local thrift stores. He's been into re-selling for a long while and is pretty knowledgeable about it, however his time recently is devoted to another business venture and he hasn't gotten around to listing anything on Ebay in a long while. He has proposed that I should list and ship the stuff, and that we'll divide the profits 50/50. Sounds good to me, since I have no money involved, and we both get free packaging materials from our common place of employment. But there is enough stuff that I do not expect to be able to fly under the radar tax-wise. So I am asking: Are there any special tricks to dividing tax liability between two "business partners?"
