I am an Audiologist and have started a couple of clinics with a friend. He already owns a full-time clinic and now we have started two visiting sites of that permanent site. I have left my job and started working on developing those two new visiting sites(twice a week-one day each site). I have a 50% equity in whatever value those two new clinics have if we work for two years together at least. He has bought all the equipment etc..(of course he will get depreciation for those in tax) and paying for rent and other expenses(which will be paid from the profit once we are profitable) and I work in those clinics without salary. I am working three days in his permanent site so that my expenses are met. I am of the view that working for two days without salary at new sites equates the value brought by him(intellectual-business registration or affiliation with Govt. agency Medicare and provider no.). Now that we are going to increase no. of days at visiting sites, I feel that I should be paid for those days. What is the advise? P.S. 1)He does not work at two sites. 2)He owns the parent company(100%) under which new sites were opened. It is our understanding on paper that I will own 50% of whatever the value of those sites will be. 3)We intend to form a new company once those clinics are up and running or merge them with already existing company, after deciding each one's share.
I am interested in knowing whether in this scenario, Does it make sense to get paid for extra days as I am developing those sites and two days work equates($40000 p/a) for the value he brings, he wants me to take the money from ledger for my expenses and later that will be deducted from my profit share. Whereas I feel I should be paid other that equity, before calculation of profit.