Accounting, Payroll & Pension Issues/LLC
Advertisement
Question
My fiance just started a single member LLC as a side job only. Is he allowed to "pay" himself once a month? If so, would he need to do payroll or what other option does he have? How would he categorize this on Quicken? thank you.
Sure he can pay himself.
To keep life simple, upgrade from Quicken to Quickbooks, the small business version of Quicken. You'll be able to move the files easily and the there is a lot of help built into the business edition for accurate reporting that isn't in Quicken.
Good luck
Good luck
Related Articles
Accounting, Payroll & Pension Issues
Answers by Expert:
Ed McFarland
Expertise
Over 20 years of experience as a CFO, Controller and now Consultant to small businesses. Dealt with 401k, 403b, deferred comp plans, key man issues, disablity, business continuation plans, HSA plans and other benefit issues.
Experience
Management experience in Financial Services, Manufacturing, Media, Logistics. Taught graduate and undergraduate business courses.
Education/Credentials
MBA
©2012 About.com, a part of The New York Times Company. All rights reserved.