So, I got hired on this past Monday by a company that, during a phone call today to go over the next steps, I found out they want me to set up a checking account with Wells Fargo (a bank their company uses that's in my area), both to be paid and to be given the money to set up the LLC so I can sell. It's a part-time (9am-1pm) job, which I verified during the call today, and the pay is $5k/month plus 3% commission pay. There are a lot of questions I've thought of since the call ended, such as "when is my definitive start date?" And "what is my pay during the training period?" I don't start getting the $5k/month until either after the training period or after the probationary period, but I can't recall which one it is. I live in CO, but I intend to move to MN this year once my partner has a job and his own place for me to move into with him. I'm not sure what to do here or how to proceed, in all honesty, and I would really love some advice/information on this.
Company I'm with wants me to make a new bank account and make an LLC for pay and as a contractor
byu/Night_The_Dragon intax
Posted by Night_The_Dragon
3 Comments
No legitimate company would require you to make an account at a particular bank.
If they made that as a suggestion because it would make things simpler, that could be okay, but if they insist that it’s required, then that’s a huge red flag.
It is not unreasonable for a company to want to contract with another entity (i.e., a corporation or LLC), rather than an individual.
Sometimes people in your situation work through a contracting agency so they don’t have to set up their own. But of course then the agency gets a cut.
Did they give you anything in writing? I wish you luck but this sounds really sketchy. $60k/year plus commission for a 20 hr/week part time job? Then needing to bank with a specific bank. If they ask you to front any money for training, supplies, or anything else, run.