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Updated about 6 years ago, 11/14/2018

User Stats

105
Posts
29
Votes
Kole Kingslien
  • Investor
  • Evansille, WI
29
Votes |
105
Posts

Best way to pay yourself from an LLC for small contractor

Kole Kingslien
  • Investor
  • Evansille, WI
Posted

Hi all, I am looking for advice on how to help my dad out with getting his business going. I have set up a Single member LLC for him, and am wondering if I should put him on payroll with his other employee(s), what would be the best thing to do as far as taxes and accounting go? Right now this is a small operation (under 75K gross/year), but we are hoping to get it to grow. He does mainly decks and other exterior work, but does a little of everything.

Also, does anyone know of any resources or guides to learn how to categorize expenses and do bookkeeping for this type of business?

Thank you!

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