I share a bank account with my father and he just retire, in the account he’s first and I’m second. He think that since I use the account for my business transactions he could loose hes pension money.
I like to continue using our joint-account because I’m rebuilding my credit in the proces, but I also don’t want to hurt my father’s chance of a good retirement pension.
He bolieves that he could be investigate by the IRS.
Where can I find an Agreement or form, that explains that I’m the tax payer owner and responsible for all transactions and business duties.
Your Dad is a legal owner of the account and mostly like your creditors can use the account to satisfy any judgement against you. He should open a new account for his money and this current one is for your purposes only. Your creditors can’t touch his stuff and you can use his history to build your credit.
The IRS won’t care as long as the interest income is reported on the tax return.
You should not share an account with your father. Comingling your finances, especially your business finances, puts your father’s savings at risk. I assume we are talking about a bank checking account or similar deposit account? If this is the case it has no bearing on your credit. Just get your own checking account and run your business out of that.