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PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4028
Experience:  35 years tax experience, including four years at a Big 4 firm.
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We have a partner llc - as a owner and the primary sales person

Customer Question

we have a partner llc - as a owner and the primary sales person - i pay myself a commision. should this commisiion be listed on the income statement as a expense. my brother , also a owner is involved in the munufacturing part- should his wages be listed in cost of goods as a expense
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Submitted: 6 months ago.
Category: Tax
Expert:  PDtax replied 6 months ago.
Hi from Just Answer. I'mCustomer I'll assist. 1. You should report your commission as an expense. 2. List owner wages outside of cost of goods sold. I like to list them as owner wages to start the expenses after cost of goods sold. Thanks for asking at just Answer. Positive feedback is appreciated when you rate my assistance. I'mCustomer