01-24-2010, 03:16 AM
Scottydo sighting!
http://www.powersellersunite.com/post-29...tml#290851
http://community.tuliptools.com/index.ph...l#msg75607
Contractors cannot be owners in an incorporated business.
Contractors also, by definition, have a contractual, or at least verbal obligation to fulfill their part of the agreement.
Whoever gives him accounting advice must go fishing in Clearwater.
http://www.powersellersunite.com/post-29...tml#290851
Quote:ScottyDo is officially Incorporated. Once we get our pay sytem reinstalled and working again, we will be issuing IRS Form 1099 to our members that want to split the profits.
Each member must fill out this form, before we can pay out any profits to you as a contractor. Basically the Form states you are responsible to report your income earned from the auction, on your taxes, and ScottyDo must submit all the forms to the IRS.
http://community.tuliptools.com/index.ph...l#msg75607
Quote:I don't issue stock and will not in the future, because I profit share.What happened to the ownership?
I don't have any employees and plan to run the site as a Co-op where the members are part owners thru profit sharing, and will help police and run the site, because they have a interest in it.
I'm offering members the oppotunity to earn sales commissions and to build a downline of referrals big enough to create retirement income.
Contractors cannot be owners in an incorporated business.
Contractors also, by definition, have a contractual, or at least verbal obligation to fulfill their part of the agreement.
Whoever gives him accounting advice must go fishing in Clearwater.