Partnerships and Compensation

[Karen Margrave]

Everyday there are questions on BP, and I've been messaged, regarding various compensation to be paid to others, especially those with larger businesses. Here's a sampling. So please, weigh in:

For those of you in partnerships, how do you get paid? Do you pay yourself wages and re-invest a % of the profits into the next deals?

Do all your partners split profits equally, or according to their contribution, etc.?

Who handles the financial end of the business? Do you have a CPA or do it yourself?

When one partner puts up money, and the other does the project management, what do you think fair split is?