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Multimember LLC (partnership)--how to pay your children
My husband has a multimember LLC with 2 other members (3 total). They hope to have a few of our/their kids work with them during the summer to help out and earn money. Since it is a multimember LLC and not a sole proprietorship how do they need to report earnings our kids work for them. Each member have their own possible child who may work with them---but they are not the children of all members.
How is this income reported to the IRS from both the business/child/parent.
Thank you,
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May 3, 2023
7:14 PM