questions
Best way to structure a dad-teen business legally?
Kofi and I are about to launch our HVAC service company. He's 16 and obviously can't be a legal owner yet.
How have you all structured your businesses?
Options I'm considering:
1. Sole prop in my name, pay Kofi as an employee
2. LLC in my name, add Kofi when he turns 18
3. LLC with Kofi as a minor member (apparently this is possible in some states?)
What did you do? Any regrets? Any accountant recommendations for dad-teen businesses specifically?
Also — do any of you pay your teens hourly or give them a percentage of jobs?
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