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    1 Reply Latest reply on Sep 24, 2008 12:42 AM by ernie1171

    Payroll Help

    woody8287 Newbie
      I had a small business @ my home for about 6 years ( sole proprietor ) and out grew it, so I moved to a larger location 6 months ago, anyway I teamed up with another guy who wanted to start the in the same business I am in and so we formed an LLC. He has had different businesses in the past with knowledge of an LLC. he also wants to use his accountant. So I asked his accountant about payroll ( this business is my only source of income for me and my family ) the accountant said we couldn't recieve any type of payroll until I had all my inventory of my old store accounted for ( most of it is ) and we started to show a profit, the business is starting to take off the bills are paid and there is some money in checkbook. So is the accountant siding with my business partner who says the same thing or is there variables that I'm missing ? I have talked to several small business owners and they told me that we should be recieving some kind of compensation already. Or am I getting a line of **** from this accountant and my so called business partner. Thanks
        • Re: Payroll Help
          ernie1171 Newbie
          Depending on the type of business your in is going to be your main variable. Is it more product or labor intensive? You may want to consult another accountant or an attorney. I have personally already consulted an attorney in case any of these problems shall arise. Dot your i's and cross your t's. It's not being mean to your partner by second guessing him either, this is you and your families livelyhood.

          May I suggest meeting with the accountant yourself and write down any and all concerns you have. But, take in what you have in inventory accounted for. But list all variables and questions you want asked. I hope theaccountant is a CPA and not just somebody collecting an extra check.

          Hope this helps...