I own a small business and I work for another company. My small business is just me (software dev), doing consulting jobs here and there. I only started the business this year. I’ve been doing this work outside of my day job for years, but figured I could be more legit and learn a bit about business along the way.
I was talking to an accountant friend of mine and he said I should look into hiring my wife, who is a stay-at-home mom of 2. My wife helps me with parts of my consulting work.
Does anyone have any advice on something like this? I know it’s possible, but I heard that she becomes an employee and as such, our financial relationship is employee-employee, and the business would pay 4000-ish on average (in what? Fees?). Is this really a good idea? What about a partnership?
My wife will be a stay-at-home for at least the next 5-ish years and she will continue to not collect any form of income. As such, she feels like she doesn’t contribute, so bringing this up to her lit her soul on fire. I’m hoping this might work out. A happy wife is really all I’m looking for.
*Edit: Thanks for the responses. It really is a “rock and a hard place” type of situation. I think, if I look at it logically, I need to shift my wife away from the idea and instead continue to push her toward her interests.
