business setup

Discussion in 'Business Operations' started by Bingham Brothers, Feb 26, 2008.

  1. Bingham Brothers

    Bingham Brothers LawnSite Member
    Posts: 66

    My wife and I both run our lawn service and have it setup as a LLC with my wife as owner and myself as an employee. We pay myself as an employee and then my wife claims the net income as her income for taxes. Is there a better way to do this? I know I need to talk with a CPA, but was hoping someone with some experience would be willing to give some advice.
     
  2. echeandia

    echeandia LawnSite Bronze Member
    Posts: 1,131

    Don't you file a joint income tax return with your wife? If you do her income is your income and vis versa. Regardless, you should both be listed as 50/50 owners and just draw out money as you need it since a LLC is a pass through type organization. You need to talk to an attorney and get yourself straightened out.
     

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