brokerbill
New Member
- 1
Hello All,
I am buying a book of business from another broker here in CA for 122% of the annual commissions to be paid over 3 years. It is pretty straight forward, we will do book of business transfers at the carrier level and I will pay him the agreed upon rate for 3 years. Most of this payout I will 1099 him for, but $15k/year will be "goodwill" and thus on my taxable income even though paid to him.
I am hoping some of you can direct me toward some kind of template that will help reduce my legal fees. I would rather visit the lawyer with a document that needs to be revised...rather than have them write the whole thing.
Any suggestions on where I can go to find templates for this kind of thing?
I am buying a book of business from another broker here in CA for 122% of the annual commissions to be paid over 3 years. It is pretty straight forward, we will do book of business transfers at the carrier level and I will pay him the agreed upon rate for 3 years. Most of this payout I will 1099 him for, but $15k/year will be "goodwill" and thus on my taxable income even though paid to him.
I am hoping some of you can direct me toward some kind of template that will help reduce my legal fees. I would rather visit the lawyer with a document that needs to be revised...rather than have them write the whole thing.
Any suggestions on where I can go to find templates for this kind of thing?