Partner Employee or Contractor
Hello Everyone,
I have an LLC.
My friend came to live with me. She wants to make some extra money. She knows alot about construction and I want to use her for her skill in my business.
We have talked about sharing profits once we finish our current rehab. Nothing in contract yet. We also talked about her receiving around $500 every two weeks for compensation until our deal is sold.
For tax purposes would she be considered my employee, partner in my business or a contractor? If a partner, would I still have to fill out a 1099?