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Old 11-06-2012, 05:35 PM
ag2112 ag2112 is offline
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Join Date: Mar 2012
Location: St. Louis MO
Posts: 31
Quote:
Originally Posted by jrs.landscaping View Post
If you are a DBA you cannot collect a check, the net profits are considered your "earnings" and the amount you are taxed on. If your brother is a partner and not an employee the same applies. If you do become an LLC and wish to recieve a check, just know that you will be taxed twice on the same money. On a side note if your brother is your partner you should consider working on your own, partnerships and working with family are two things that rarely work out. When you mix the two, chances are even greater for arguments IMHO.
Thanks for the info/opinion! So far it's been ok but I can see where you would say that...

If you were a LLC is there anyway around getting double taxed? How could you pay yourself without a paycheck?
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