My wife and I own a small business. When I started it I decided to put her as 35% owner. I invested all the upfront cost sold my house to invest in the business. Our business is trucking and construction. This is my only source of income. She is a RN and she dose our books and payroll. Our business dose Relatively well. The issue is when it come to drawn for ourselves. I have put over 150 cash into the business. With that said. I pull about 6k a month for my portion of the bills and some for myself. That about what I was bring home as a construction employee at 40 hrs a week. She has her nursing job and she definitely should get paid for the work she dose within the company. She is bad with money so I gotten frustrated a few time when she uses the business as her safety net. In the past we got into and she say she own 35%. I point out she not doing 35% of the work she then make it seem like she deserves the money she’s take out. So I told her to keep track of her hours. She average 10 a week. I told her if she was making 100hr it would only be 4k a month. I told her to look up bookkeeper wage for a small business like our or to see what a service would charge. So anyway a unlicensed bookkeeper for a small business make about 20 a hour. I ask her what’s a fair wage she brings up her bookkeeper duties at 10 hours a week vs answering the questions.

So I was to this. 65/35 is the portion of the business you own. So if the business net profit 100k I would make 65k and she would make 35k. With us both doing work for the company we agreed on a wage to pay ourselves but that’s separate for net profit because it could be a net loss. I work 50 to 70 hours a week. Running job hiring firing do actually physical work on site etc. If I didn’t do what I do there would be any business.

So we went on a few family vacations. I save my money from my 6k to contribute to the vacations she just pulled a additional 2k out the business account to cover her short coming on her portion of the contribution. This has happened a few time with thinks like that.

Any suggestions

I’m not the best at English literature so hopefully it all made sense tia

  • Awkward_Block_1677@alien.topB
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    11 months ago

    First: The money you put in needs to be paid back as a loan with interest.

    Second: There should be set monthly pay for the work you do as employees

    Third: After paying all expenses, including the loan and wages, the remaining profits are split 65/35

    Lastly: As minority owner of the business, she should have no access to bank accounts to withdraw money