First off thanks for reading everyone quick background:
- 3 Partner LLC member managed 33.3% each
- No initial capital investments just LOTS of time (software/IT company)
- we share profits evenly but this is our first month w/ profit
- We have been breaking even for the last 4 months of operation all money made has gone back in. No hourly wages or Commissions have been payed.
- we have no employees other than ourselves
- We have not been paying anyone for any of the work they have done YET
So our problem now is:
We want to pay an hourly wage to the member who goes out and does the job. AND
10% commission to whichever partner closes the sale
Do these 2 effect the sharing of profits at the end of the month? Ie. $6000 profit is that distributed equally? or does the commission and hourly wages payed count towards their share already?
Also in case we do have a loss do we still pay commissions and hourly since we give those out at the end of the month. Or do the partners still receive the commission and wage then the remaining loss is split 3 ways.... which could mean that 1 partner receives no commission or hourly wage but still pays part of the loss.
I would like to keep things as fair as possible