WALLOFIRON_IHB
New member
How does this exactly work?
Lets say you set up an LLC with two people, each receiving 50% of the profits.
Do you have a merchant account set up in the LLC name?
Who keeps track of profit/loss/expenses?
What is stopping one person from going into the Merchant account and taking all the money and disappearing?
How do you keep track of how much each person withdrew from the merchant account?
Or does it mail a check directly to a bank account set up in both parties names?
---- very confused here
Can anyone "skool" me?
Lets say you set up an LLC with two people, each receiving 50% of the profits.
Do you have a merchant account set up in the LLC name?
Who keeps track of profit/loss/expenses?
What is stopping one person from going into the Merchant account and taking all the money and disappearing?
How do you keep track of how much each person withdrew from the merchant account?
Or does it mail a check directly to a bank account set up in both parties names?
---- very confused here
Can anyone "skool" me?
