Llc Compensation Structure
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FAQ
If you are a contractor and the LLC is the entity your employer contracted with for your labor, then yes.
By default, LLC profits are split ing to ownership percentage?if you own 50% of the LLC, you get 50% of the profits. However, you can override your state's default requirements for splitting LLC profits by making another arrangement in your operating agreement.
To give you a couple of examples, some business owners take 50% of net income for their salary, leaving 20% for savings and 30% for taxes. Another option is to split net income between your salary and business savings, 35% apiece, still using the other 30% for taxes.
Yes you can live in a house owned by your LLC. There is no tax advantage to owing a personal residence in an LLC and a pretty huge downside if you have a mortgage, but nothing to prevent you from living in the house.
