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apbowman

How To Pay Partner?

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Ok I partnered up with a new investor on a short sale any ways his cut is going to be about 5K..My question is what it the best way to pay him if I don't have a payroll. I am a signal member LLC, what forms will I or should I fill out to me this on the up and up. I am not sure if I should just give him a check at close. Any help in the right direction would be great. :wacko:

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Along with the check, give him a 1099-MISC for the amount of the check. Your CPA should be able to help you with the forms.

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