Search:

Type: Posts; User: ivanjay205; Keyword(s):

Search: Search took 0.08 seconds.

  1. Sorry for the slow response. I never saw the...

    Let me start by saying that I am not an accountant.

    Like you, I ended up owning part of an S Corp when my father gifted me a percentage of his shares. You won't need to separate the retained...
  2. How Balance Sheet should be setup multiple partners with S-Corp

    Hello,

    I am in a family business where I and some other relatives were just gifted a minority share of the company as we start the process in our succession planning. I am going to meet with an...
  3. Replies
    6
    Views
    7,566

    Thanks for the responses!

    I would pay it out on the $900k. That is the bottom line profit of the company.

    Thanks for the responses!
  4. Replies
    6
    Views
    7,566

    Just to clarify I mean the profit sharing bonuses...

    In this case, I think you are okay including those bonus payments in the year's expenses since the earnings are paid out the following year. I had a similar plan and my employees did not object to...
  5. Replies
    6
    Views
    7,566

    We did end up making this modification and of...

    I agree with your Team lead. You said that you exclude overhead from the bonus calculation and this bonus should be considered overhead as well. The team members don't control the bonus expense, you...
  6. Replies
    6
    Views
    7,566

    Profit Sharing Compensation Question

    Hi everyone,

    We have (5) "Teams" comprised of a Team Lead / Business Development Person and a support team for his/her business. We find it allows for much greater syngergy once we started...
Results 1 to 6 of 6