Hello smallbusiness,
My name is Ryan and I’m the co-host of a small podcast that is slowly growing. We are expanding our little 2 man operation, which is set up as an LLC general partnership.
We want to bring in a co-host to help us put out some new content, but I’m struggling to figure out how the business side of this works. I think we just bring him on as an independent contractor, set the rate, and then send him a 1099 come tax time? Is there a different way to do it?
He has agreed to do it for free (in fact rejected our $ offer), so maybe there is nothing that needs to be done for the tax side, but I would like to have him sign sort of contract saying the content he creates is owned by us, blah blah.
Any help is appreciated!
Sounds like you’ve got it. If he wants to make money for you for free, that’s his prerogative, of course, but you’re on target with getting a contract for the work expected and its ownership. Once he sees it as “making money for some other guy with no financial recompense,” he’s likely to want to get paid commensurate with the value he’s providing, but you never know. Maybe you’ll get lucky!