WE'VE MOVED!
We are proud to announce our NEW community destination. Engage with resident experts and fellow entrepreneurs, and learn everything you need to start your business. Check out the new home of StartupNation Community at startupnation.mn.co
We are proud to announce our NEW community destination. Engage with resident experts and fellow entrepreneurs, and learn everything you need to start your business. Check out the new home of StartupNation Community at startupnation.mn.co
Options
Create a business or not?
I`m currently working on a web application for a small startup company. Because my daughter works for this company I am currently working on the site without getting paid. Eventually they will start paying me for my services as the business generates revenue.
My question is, when they do start paying me, should I create a business entity and show the income against the business or just add the income to my personal tax liabiltiy?
Are there any advantages/disadvantages either way?
My question is, when they do start paying me, should I create a business entity and show the income against the business or just add the income to my personal tax liabiltiy?
Are there any advantages/disadvantages either way?
Sign In or Register to comment.
Comments
Good luck!