New answers tagged payments
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Being an employee (W2) of the LLC will be very expensive (the LLC will have to pay payroll taxes, workers' compensation insurance, and file payroll tax forms forever and ever), and I don't see how it will be beneficial to your partner (it might be for you). Subcontracting is an option that I would suggest considering as well. If liability is an issue - you ...
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Based on this very limited information, the easiest is for you to be a subcontractor to the the LLC -- it would cut you a check, which you would then pay self-employment and income taxes on. Then, you'd get a 1099 form at the end of the year.
Becoming a member in the LLC is possible, but it's a pain in the butt because the LLC's tax status would change ...
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You have a few options, choose one or more depending on your specific business / customers:
Fixed transaction fee.
Percentage based transaction fee
A combination of both.
Foreign exchange commission - this one is very effective as you can charge as much as you'd like and you shouldn't even display it to your users as 'service fee'.
Anyway, charge a fixed ...
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I typically write a bit of a description on our invoices, here is something short to consider:
Payment 1 of 2 - Due within 7 days of the contract execution for X, Y, Z. Payment 2 of 2 to be sent upon project completion and client acceptance.
When I do a project that is just 2 payments it is usually pretty small so I typically have the 2nd payment due upon ...
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I would go with Project Commencement
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This information is too vague to give a good answer, but a 5% royalty for advice doesn't sound like a great idea on the surface. Generally speaking, there's only two reasons to return money to anybody involved in a business - work or capital.
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It is not illegal to have an auto renewal and from experience I have found that it is best to make sure your cutover receives an email every time they are charged their membership or subscription fee. This keeps a good customer relationship.
There are companies out there that will automatically charge your customer's credit card when needed, send emails to ...
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Being equity holder means you need to have confidence in their business plan. For the risk of not getting any $$ in the scenario where the whole thing goes belly up, 3x professional rate is normal (though I've seen 2x for less crucial roles). The problems you face are
a) valuation ... work out what 3% means in terms of share value
b) dilution ... you are ...
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