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Likely you best rethink this. You've already used the work "employees", so you've already proved your workers aren't 1099 contractors. The rules a person must meet to be a 1099 contractor. 1) They have no supervision. 2) They have no set hours. For example, I have a 1099 contractor who runs ...
Depending on average transaction size, number of transactions and the potential risks you are taking on (i.e what are you responsible for if your friends product or service isn't delivered on?). Anywhere from 2-20% could work depending on the above. As for accounting, I would recommend keeping ...
When you open a bank account for your corporation, you'll need to make an initial deposit with your personal funds. A shareholder's initial contribution can be recorded as either debt or equity. If you want to record the initial contribution as equity, you would debit cash for the amount deposi...
Yo are talking apples and oranges. Capital gains are related to your basis not the form of payment. If you are a cash basis taxpayer, you pay taxes when you receive cash beyond your basis. We can help you with structure.
I am not a lawyer or an attorney and this is not "professional advice." Hire an accountant who is familiar with licensing. Stay away from the franchising route if you can: it's expensive, the lawyers are expensive, and you are open to attack from inside and out (franchisees and customers). I w...
You can simply divide equally among the three companies or divide the fee based on usage. Count the volume of mail received for each company. Each individual company's share would be Individual Company divided by the Total.
Hi, What you're contemplating is a licensing model. It's like 'franchise lite.' There are several questions you need to answer for yourself before you go recruiting any licensees. For example, are there any business systems that will come with the franchise in addition to the brand name? How...
No special requirements needed for virtual subcontractor. All submission you give the government will be at your own discretion.
Interesting. I have done this on a couple of occasions, maybe not this exact model but close. One approach would be a Speakers Bureau. Another would be to structure it as a full service agency or as "full" as your colleagues' backgrounds permit. Be sure to create a vesting schedule, even sweat e...
It will surely depends on where you are located. In Canada, you can ask the 2 employees/contractors to provide you a bill like any company does when they sell services to customers and you can pay them by check. The employee/contractor would need to be registered as a company (incorported or regi...