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What is a good approach for starting salaries for the officers

of a corporation ?...
What is a good approach for starting salaries for the officers of a corporation ?
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Answered in 35 minutes by:
8/1/2012
Law Educator, Esq.
Category: Business Law
Satisfied Customers: 121,058
Experience: All corporate law, including non-profits and charitable fraternal organizations.
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The best approach if they are 50-50 partners is for start up the starting salaries should be 40% each of the net profits each quarter leaving 20% of the net profits in the company for expenses as needed and for some cushion. If you take all of the net profits out of the business and something happens, you get caught short and have to start putting more money into the company. You can push it to 45% each and leave 10%, but again, you never know what may happen and whether or not extra cash may be needed in the business for an emergency.

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Law Educator, Esq.
Category: Business Law
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Experience: All corporate law, including non-profits and charitable fraternal organizations.
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