Saturday, August 13, 2011

Is excessive salary considered misappropriating funds?

If I had a business partner in an LLC company who owns the lionshare of the company, how do you determine what an appropriate salary is for both partners? How do you draw the line between excessive pay and misappropriation exactly? Since the lionshare holder has ultimate authority of the checkbooks, how would you go about keeping your partner accountable of abusing company funds?

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