Forums: Discussions for entrepreneurs and small business.

I`m currently working on a web application for a small startup company. Because my daughter works for this company I am currently working on the site without getting paid. Eventually they will start paying me for my services as the business generates revenue.

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Unless they hire you as an employee, it sounds to me like you`re a sole proprietor and you`ll need to file a Schedule C with your 1040 for the year in which you start getting paid.

Keep track of your business expenses so you`ll be able to deduct them as appropriate.

 

...And try to get something in writing, so that eventually doesn`t become never.

Good luck!




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