Income can be earned from being an employee, form being Self-employed, form a Business Owner with employees, and by being an investor in several businesses.
Cash Flow Quadrant – Why It Is So Important to Understand Read More »
Many consultants who sell their knowledge and experience have a hard time asking a client to pay them for their expertise. However, it is much easier if you take the emotion out of asking to get paid.
How To Take Emotion Out Of Asking To Get Paid Read More »
Many small business owners come from corporate America and adopt their outdated contracting and payment processes when they set up their project and billing processes.
The Best Way to Contract and Get Paid as a Service Business Read More »
The changing landscape of the US tax code continues to create tailwinds for the business owner. Today, when it comes to earned income, the amount you make may matter less as compared to how you make it giving rise to more small businesses. With the massive surge toward small business ownership will be an increased need for qualified small business knowledge.
Epic Tax Code Changes to Increase Interest in Entrepreneurship Read More »
How You Get Paid as An Office and Or Shareholder of an S-Corp Is Different. Here Is What You Need to Know About Getting Paid.
How to Get Paid in an S-Corp Read More »
In some cases, all the partners of a limited partnership may be investors only and not managers. The partnership may hire an outside general manager (employee) to make the day-to-day decisions, and therefore, acts as the manager. In this case, the general manager is an employee of the business, but since they are not a partner (aka owner), their income is just like that of an employee in any business.
How to Pay a Non-Partner General Manager of Limited Partnership Read More »
How You Get Paid as A Non-Partner General Manager or As General Partner of a Limited Partnership Is Different. Here Is What You Need to Know
How to Get Paid in a Limited Partnership Read More »
A partner in a limited partnership that is a decision-maker (general partner) is considered an employee of the business by the IRS and is treated differently than limited partners. Income for general partners is considered earned income and is subject to additional taxes but also to additional potential tax deductions. Moreover, as a general partner, you are exposed to additional liabilities.
How to Get Paid as a General Partner of Limited Partnership Read More »
In some cases, all the members of an LLC may be investors only and not managers. The business may hire an outside general manager (employee) to make the day-to-day decisions, and therefore, acts as the manager. In this case, the general manager is an employee of the business, but since they are not a member (aka owner), their income is just like that of an employee in any business.
How to Pay a Non-Member General Manager of a Multi-Member LLC Read More »
When you have an investor in your LLC, who works less than 500 hours in a given tax year for the LLC, and they do not participate in its management, they are considered limited in their liability and their income is usually considered passive income subjecting the income to only federal and state income taxes based on their marginal tax rate.
How to Pay a Non-Manager Member of a Multi-Member LLC Read More »
