What is the best way to get paid out of your CC? Simple question really, quite surprised I was able to manage a simple, clear and concise questions
Thing is, as the main and only member how do I pay myself? And if I bring it a partner, how do I pay him, what is the easiest way to pay a parter (member being actually registered as a partner or just partner off the books but employee on the books").
But first things first. How do I go about paying myself out of the income genereated from my business? Do I merely deduct whatever amount I feel suitable and reference it as "Owner salary" or is there a beter, "legal" way of doing it (not meaning I'm looking for an illegal way? Yes I know, probably a very stupid question, just want to do it right from the get go.
I want to pay myself a fixed "salary", which will increase on a yearly basis or as I decide, but I want to keep it as structured as possible. Basically build up to a comfortable salary (I have other venture I want to follow to) and then keep it there.
Secondly, If I include a partner, him being a mate of mine, what is the easiest way to get him into the business? Do I make him a member or merely an employee? If he is an employee I suppose I have to register for UIF and what not? So being a member, I suppose I handle his "salary" the same way as my own?
Thanks for reading my base level question and posting advice.