Question
Is it illegal to not pay your bookkeeper seperately for managing both business and personal finances?
Hello, I've been working for a small corporation for over two years now doing their bookkeeping. In the last year and a half, I have not only managed all the company finances, but also the owner's personal finances. I heard that this was illegal from a good friend because I am not being paid separately for the separate services (business & personal). Is this true? I have looked all over the internet for an answer, but can't seem to get any information. If anyone could provide any kind of help, I'd greatly appreciate it!
4 months ago - 1 answers
Best Answer
Chosen by Asker
It's not illegal, in the least. The business owner, however, would need to maintain some sort of accounting record to indicate the cost of the time you spend on his personal finances. He would not be allowed to use that portion of your cost/wage as a business deduction for his business, as he would for the time you spend working on company information.
by acermill
4 months ago
Asker's Rating: 