QUESTION on How to Add a Partner to an S Corporation I just established an S-Corp and want to add someone as an equal partner/shareholder. At setup, I bought 1000 shares of the 5000. Do I just sell him 1000 shares and make him my Vice President or CTO? Thanks - Anthony Randazzo, MD ANSWER Dear Anthony: You generally have the right idea. Just remember … [Read more...] about How to Add a Partner to an S Corporation
Archives for November 2004
How to Set Salary of Partners in S Corporation
QUESTION ON How to Set Salary of Partners in S Corporation? Hi, At present, I'm staying in VA. Recently I've started new firm (S Corp) and working as a contractor in DC thru' my firm. I'm the only one working for the company. My wife is partner in the company, but she is permanent employee of some other firm. Estimated revenue of my company is around 120K/yr. What … [Read more...] about How to Set Salary of Partners in S Corporation