As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.

It's Mrs Sonia Duke of course

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Always two or more dudes if a story. Maybe he riding on the coat tails of Dad's success.

@@philshoup1582maybe

@@philshoup1582he said he’s been running it on his own for 5 years without his dad.

The dad probably worked his ass off to get the company to where it is today. And this is how he’s being treated by his son.

@@philshoup1582 seems to me like the opposite the dad is depending on the sons success.

Yes and the reason you pay them is for their expertise. If you're not going to take that expertise, just don't hire them and save the money. You'll need it (and likely more) when you get sued.

Except that's not true. When a lawsuit happens, who do you listen to then? Attorneys are not employees. They are officers of the court. They are always obligated to take the side of the court and the law before any employer. Furthermore, they have higher ethical standards (or should in theory) than most people.

@@Grigsy Yeah, right.

@@GrigsyAttorneys are not in fact officers of the court, unless they are prosecutors. Not sure who told you that they were lol

That's the kind of advice that gets people sued.

@@user-do2ev2hr7h This is America, you can sue or get get sued for anything anyway.

It not actaully..

@@Cent51 explain how?

Can your friend run the business?

@@almaur703 yes he’s very competent in this area

It's a great deal. ​@@Cent51 104k in perpetuities on $2m in profits is 5%.

Could not agree more

Assumptions***

The son claims he and dad built the business together. Without hearing dad's take, that is what we and Dave) go on. The keyboard warriors filling in blanks they aren't qualified to do should give it a rest.

​@@mikeb8342we can only dream, don't you think if they had something better to do they would do it?

Well in that case that would kind of make Gary an employee who's lucky enough to get 49 per cent of what his dad built. Just be happy with what you got and don't get too greedy then. This isn't a case of shark tank where Mark Cuban got a huge percentage of the company . Someone built it from the ground floor

Gary is a manchild throwing his toys.. No concept of how to deal in business.

E

Two years for me to graduate with my Electrical engineering degree and NO I’m not 20yo My father wanted to start a business with a horrible model in mind. “Dad the website asks what will be the initial amount of stock, because it’ll be 3 owners i say 10,000” His reply: wtf r u regarded why tf do you want our company to have stock?!?! Ur a dumbass “What does the game plan look like for the company?” Reply: I don’t give a shi. If that shi don’t work out I’ll just retire “Ok but like I’m about to get my EE degree, if you’re not willing to talking things out I don’t feel confident about doing this” His reply: are you a goddamn regard? I don’t have to tell you shi etc etc etc Point is many fathers need to stop with the narcissistic behavior

Except there is no proof any of this applies to this guy, this guys dad isnt reinvesting the money in other businesses, he didnt grow the company and give it to his son, all you're saying is anecdotal to why your situation is different and does not apply

Sounds like they built the business together. If dad started it and is handing the reigns over that’s different. They both put the same amount of sweat into starting this company from the ground up

​@@soniak2269 That's according to the 49 percent owner of the company. Id like to hear the 51 percent side of the story.

If you've put in enough work to own 49% vs 51%, and the "owner" Doesn't work anymore,the most logical path is to swap positions, the father will see negligible changes in income, yet the son is free to expand and create a mini empire while assuring his parents success. The middle class in this country has been killed by old fucks who don't NEED the money yet refuse to see a change in monthly deposits

@@soniak2269”Sounds like” you’re making assumptions.

Dad is 51% owner. It’s under his control. He decides why happens, period.

Then they both won’t make any money 😂

@@pnwflipper2089 Need to do the math. If they pay the CEO what one of them gets then they still have the amount the other makes. That can be split in half. Neither works for it. Each gets same amount.

@@user-kp8tx6zv4r and both get a pay cut!

@@user-kp8tx6zv4rSomeone who manages 12 people doesn‘t need to make 20k

You wouldn't pay a CEO 20k unless it's a bigger business and structure that once they grow to 5mil, they get 250k a yr. Until then, 150-170k should be good with a bonus to 250-350k

Well said, honor your mother and father. Saying my father "doesn't participate", or "take, take take" is very disrespectful. Without the father there would not have been a business 15 years ago. He never said I could have done this alone.

The problem in this situation is the child sounds like a spoiled little bitch.. it was probably the dads capital and backbone that built it

Yeah, the guy is making 20k a month and splitting profits. He could take 5k a month, reinvest the 15k a month into growth.

so you'll destroy a mutil million dollar company to help your pops?

@@19Burgandyhow is that destroying it? he’s still making more money than most people haha this prick is being greedy and doesn’t realise his old man is the one that built everything

i mean dave’s advice still applies to all of that tho

I'm going to guess that dad funded the whole business and that is why he had 51%. Son likely had sweat equity to earn his 49% and isn't happy with that anymore.

You formed your statement as a question yet it’s clear you’ve made assumptions.

Did... not does. Sell and retire off that

Starting a business may entitle you to something for a period of time, but adding zero value loses its marginal utility to the business, industry and country at a certain tipping point. Thinking you are entitled to suck off a teet in perpetuity without adding value or productivity is the cancerous ideology that is screwing this country

How is the business doing without?

My husband had the same with his folks. They gave him money to open business. He did most of the work. Took virtually no salary but his folks lived off the business. 12 years. I had enough eventually and was so happy when covid killed it. His parents think my husband owes him their 'venture capital ' plus interest despite them living off it for 12 years.... nice

Not the same- he is taking home $250,000 a year not $40,000. The son is a jerk.

​@@scottlaux6934the son WOULD be a jerk.... if he hadn't built the business WITH his dad. Unless you have some untold knowledge of this situation, the given is that THEY BOTH built the business together, but dad doesn't want to participate anymore. Since son let this fly for five years, he's going to have a helluva time getting this straightened out. Dad has entitlement syndrome.

@@mikeb8342 The problem with that argument is that dad's majority stake actually does entitle him to do exactly what he's doing. If that doesn't work for son, he can move on or buy dad out, but you can't call someone entitled for exercising their prerogative as owner. He's acting entitled because he is.

You're assuming a corporate structure. If this is a partnership or an LLC taxed as a partnership, there are no owner wages. Understanding the difference between guaranteed payments and distributions is more nuanced.

​@@kelleep535Not exactly. An owner of an LLC or partnership can still pay himself a W2 salary distinct from the pass through treatment (aka dividend).

It's not the type of company with formal dividends. He mentioned Owner Draws, with a pass through entity like that the default isn't a formalized salary.

All true, but a consultant doing a lot of work for fam businesses once told me that they can be snake pits. Exactly because fam is more important, but still have to live your life..

I admire the way you dealt with his sense of entitlement.

Exactly

Who says his son didnt build the business from day 1? The fact that "dad" cut out 1% to have some veto power makes him sound like an asshat

The fact that you ignored him saying that his dad is doing NOTHING for the business is very telling of who actually has a sense of entitlement here

In Seattle a competent person to run a pretty specialized business isn't going to be cheap, and then the son who has actually been running things could be your competition. And the son would still get paid his 49% of the profits. $460,000-$200,000= $260,000 profit split between father and son 51%-49%. Dad would be receiving like $131,000, assuming the manager was both honest and competent. So the problem is that the son is doing all the work, and isn't drawing a salary for the work.

Why in the world would you want to reset 15 years of work and building if you could find a way to make it work?

I'd be interested to know the specifics of how one can "take their own money" in this scenario?

Nahh Family is not Worth the extra % Let the Dad have it get Paid from Work Income..

@@robcd7112 Probably the money they saved over the years.

Yup or he cuts his income in half puts 10k from what he was earning (20k) and sacrifices his income for more in the future like his dad did when he started.

Exactly. Like holy crap be nice to your DAD. It's most likely going to your down the road anyways.

Exactly let dad and mom retire comfortably they deserve it.

Maybe not. It could be split among mom, siblings, and other family. Plus, that could be in 20-30 years

@@marmantole that is why he should take salary

yeah just let your business eventually tank because you're taking 51 percent of your profits to an unproductive entity that's eating away any growth your company would have lol.

Bingo.

The majority owner of the company has different goals for the company than the minority owner. Tough cookies bud.

Son could quit as CEO/manager, and receive just under half of the profits. For every $202,000 receives, the son gets $198,000. It's in their interest to work together.

He needs to have Dad buy him out and then he quits. Start over, and take customers as it fails apart.

They just change the name of slave now they say employee The owner got to keep their title Slaves had an owner Employees will say this is our owner parents enslaving their children its just "hired servants" Master and servant Owner and servant Owner and slave Owner and employee Honor your' owners Owners Sell their home at a profits Make an extra $100,000 or $200,000 Increase the cost of living on your kids $100,000.00 + so that your kids gotta work that much extra time away from their home and family Sell your home for a profit the effect is immediate & they can pay for the slavery you forced upon them better yet make the basic simple necessity of a home more & more unattainable a completely out of reach goal Have your kids go work everyday for money made from paper made from cotton 👁️ ∆ 💵 and put Egyptian pyramid on it so that they know that their slaves in Egypt And you made their bed with Egyptian cotton sheets because you were mentally asleep And get them to work and get part of their energy to enrich your life if you can do that with your children good if you can do it with other people's children even better Get other people's kids to enrich your life while you enslave them in future generations yea!!!! 👹 They don't need all their work energy to provide for themselves they can provide for you l!!!!!! get them to sign mortgages and loans / get them "sign" on a "flat line" EKG ________________________ SIgN herE Instead of living being a gift enslave them! MAKE THEM SURVIV E A LOAN 💵 E gypt them!!! she jipped them

And dad probably financed the whole thing and is getting his equity back.

That’s Hollywood, not reality. 51% ownership doesn’t make you king like it does in the movies.

​@@Quincy_MorrisYes it does

​@@Quincy_Morris owning 51% of a company makes you owner of a company with very few exceptions.

The problem for dad is 51% does not matter if he doesn’t want to work the business. The son can pull up his stake and start over, he has the current relationships and drive to work. They just need to figure it out. But bottom line that 51% only entitles dad to 51% of net revenue after expenses and if he isn’t working he should not be getting a salary.

Yeah it’s something I came to accept

Oh gosh, true! My dad and grandpa did great somehow. It was a farm. I'll have to ask for questions about that... I personally can't work with family. Too much tied up and someone feels taken advantage of in the end. And it does end.

None of the people in the comments even listened to the entire story. He wants to figure out a way he can put money back into the business and possibly buy his dad out. He’s not satisfied with the current deal which I don’t blame him and Dave even agreed!

Yeah I would say the same thing about the father who is not doing anything for the business. The son is running the business, the father is just taking money from it.

@@jeraldbottcher1588: Indeed, but that's his prerogative as the majority owner.

@@danieljohnson4418 Actually taking money from the business before the bills are paid can be illegal. IN any case it may be legal, but it is very poor business. You always pay the bills including salaries 1st, then take profits. The son should have been taking a salary all along. Instead he has also been taking profits before paying the bills. His work may be worth far more than the amount he was taking, may be less. But the father is not involved in running the business. He is an investor. The investors pay out should be directly related to the amount of profit, After the bills are paid. If the business was losing money would he then be entitled to 20k a month? and the answer to that is no. What if he takes the 20k but there is not enough money to pay the sone anything? does he still get the 20k? No

Dummy should cut his own income in half if he wants to grow. The dad clearly doesn’t care to grow.

Yeah, at best it's "our". At best.

You noticed that too eh?

He's the one running the business. Of course it feels like his, even though he shares ownership.

And he owns 49%. So what? Majority shareholder doesn't mean it's fully yours. It just means you have majority share of the profits.

@@massimo4307Yes it does. If you own the majority of a business it is your business, and if u wanted to get rid of the other share holders you could. It’s your business of u own the majority that’s y some people never give up 51%

Yeah, at 49% son isn't really an owner for most intents and purposes. He's more like a manager who happens to be entitled to a share of the profits.

@@user-do2ev2hr7h No, at 49% he is still part owner. That's how shares work.

Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks

@@Lourd-Bab However, if you do not have access to a professional like JUDITH ANN PEACE, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.

@@PilouBen Oh please I’d love that. Thanks!

@@Lourd-Bab Judith Ann peace is her name

Lookup with her name on the webpage.

My step son pulled that truck on me. I owned 51% and it was a running company for over 20 years. D he thought he would double dip. Didn’t work well for him. His business flopped and I cut him out of the preexisting business. If the arrangement is the Don is a working owner, leaving the company voids the agreement. The son was to be working for his future instead of only seeing to the end of his nose.

Were you paying your stepson market wage?

@@mikemay777. It is sad he is trying to cut his own dad out of the business. His dad is a lot older and is tired, but he is probably giving important business advice. I am self employed and understand how hard it is to survive in business.

@@CroisMoispot on, he is an ungrateful pos,

He said he takes 20k a month also. Doesn’t sound like he’s working free…

The son's 20k per month is the son's salary for operating the actual business that generates the revenue. The problem is the father is slurping that down without doing anything to contribute.

Yes, I've been keeping an eye on short-term financial assets like treasury bills and commercial bills.

It seems like there's been some volatility lately, especially with interest rate changes.

That's true. It's crucial to stay ahead of these fluctuations to make informed investment decisions.

Yes, I have. Desiree has been incredibly helpful in navigating these money market issues.

I've heard great things about Desiree’s expertise in managing short-term investments and optimizing portfolio returns.

But the 240k is stealing from the business

@@priestesslucy3299 When you take $100 out of an ATM are you stealing the money? No. Because it’s your money. We can say that dad isn’t contributing to the business anymore, and that it shouldn’t be set up the way that it is. BUT, it *was* set up that way. The son might not like the arrangement now, but he agreed to the terms whenever they were written. Dad is a cofounder and is the majority owner. I’m not saying he should push everybody around and do whatever he wants to do, but he’s top dog in the organization. There are books on business strategies out there that would applaud his position. One with which I am familiar expressly encourages people to avoid getting trapped as a “worker” in your business; instead recommending hiring competent people to run the day-to-day while you collect your share and invest it in creating other businesses, increasing and diversifying your revenue streams. Yes, ideally, dad would simply be an owner and collect a share of the profits without also getting a salary for no work, but the time to sort out those expectations was when the thing was started and the papers were drawn up. Dad essentially has zero motivation to move from $240k and profits for life to a one-time lump sum which would likely equal 2 or 3 years of what he normally gets then get nothing after that. That would be silly, and I sure wouldn’t do it. He and Junior might be able to sit down and negotiate some compromise between those two scenarios, but the idea that he would walk away with some chump-sum payment and nothing else is worth an eye roll.

@@priestesslucy3299How 🤷🏾‍♂️its their Business

I thought of that scenario in this situation. His mom will continue to own the majority.

It's depressing how bad the general listening ability is here. Dave even explains the proper way to reaolve this and the comments are still filled with people rejecting reality and replacing it with their own ideas.

Dave's solution to how to resolve it relies on the assumption that dad would go along with it. I see no reason to assume that would be the case. In most cases a minority owner can't force squat in a private company.

@@user-do2ev2hr7h I think having a lawyer will help. Someone unbiased who can see the facts. I’m sure they’ll come through it with a better outlook

This advice was crap

@@crazylegs225 what part was bad advice?

​@@crazylegs225Tell us how you would handle it.

​@crazylegs225 Dave was absolutely spot on. Your response is proof you do not own a business.

@@kentuckyjim5108 exactly.

Yep, that is why it is time to buy him out.

@@jeraldbottcher1588 That assumes he's willing to be bought out and son can find the resources to do it. Dad may be happy with the cash flow his 51% is getting him and have no plans to go anywhere. (yes, I'm aware some partnership agreements can have provisions for a forced buyout, but if son had one of those he likely would have exercised it already).

That assumes he's willing to be bought out.

For real, or asking a landlord to reduce the rent, not gonna happen. Oh they'll listen if it's to benefit them, but if it makes sense or helps you, not happening.

Yeah, Dave's advice is talking about what the majority owner (dad) should do, but the relevent points are actually what he will do and what he can do.

Dad probably worked until last few years but started slowing down, so both are drawing a salary but one stoped working

dave said 51% owner is not an owner?? when

you're forgetting the father-son dynamic here. If dad deceived son, it's not son's fault for trusting dad

@@yobs-kl3hnnever lol

Exactly what I said, son doesn't know enough to take a salary therefore is resentlful of dad but dad would be wise to take a buyout since son really doesn't have a clue how to even structure a business.

12 million in distribution is a bad use of capital...

@@Mr_Martz_Mc We are not trying to grow kiddo

Your bank risked everything.

@@ECUCHRIS904 How did my Bank risk anything? I never took out a loan and they just hold my money

You want take distributions then that’s all great and well. You don’t take a salary on top of your distribution share.

He's giving him closer to a whole pot of coffee lol

They built it together

We didn't hear the dad's side​@@pigeon7777

Watch the clip again and listen instead of making assumptions.

If dad fronted the money, the business assumption to make is that the son bought his way up to 49% and the father cut him off there. Frankly from a business and legal sense it doesn't matter whether the 49% ownership stake was earned or given, it exists and is real. Setting aside the cold analysis, you can really feel the caller's pain over the situation with his dad.

Gary is an ungrateful POS

And if you take family out of it it's the same frustration countless minority owners feel when the majority owner has different goals for the company. The reality of being a minority owner is that sometimes you have to watch someone else steer the ship in a different direction than you want to go.

Yes but on paper Dad may actually (and I would argue probably does) work for the company. It's perfectly legal for him to pay himself a salary as an officer of the company even if that role requires minimal in the way of day to day involvement. You can't put somebody on the books if they don't work there at all but there's no rule that says someone who does work there is obligated to spend X hours per week in the office.

If he's patient he'll definitely inherit the company anyways. His dad CREATED the company to where it is today, that's way harder than running it. He deserve to sit back and get paid. But as Dave said there's a right way and wrong way to do it.

What's wrong with that? His dad doesn't work in it anymore.

@megalodon1726 his father started the business, and he is the owner of the company

@@JC-xu1cz they started it together

They started it together

As an adult, wouldn't your relationship with your spouse take priority over parents?

An S Corp can have up to 100 shareholders, did you think they all have to get a reasonable salary? It's only the owner operators that are working in the business that have to take a salary, since SS and Medicare demand their cut of your labor. But an owner who isn't working has both no obligation and no legitimate right to a salary.

Unfortunately this relationship may already be ruined until the son breaks free. It feels like the father is feeling entitled to having the business feed him the gravy train without any effort on his part. There is a very real chance their only opportunity to heal could be a clean break and the passage of time.

The thing is starting his own company is something the son has control over. Buying out dad if he doesn't want to be bought out or changing the pay structure without the approval of the majority owner are not things he has control over. All of Dave's advice here would require the dad to sign off on it. Son probably needs to have a conversation something along the lines of "Dad, if you're not willing to do X I'm going to have to do Y in response".

Greedy and I have a feeling there is a wife behind all of this

Father started the business for sure.

Complete mess

​​@@MrMustangrick he did start it... *_with the caller._*

Exactly, I have little respect for this guy. But others may have all the respect for him. Idc either way

It doesn’t sound like that at all. Sounds like dad was better at producing revenue then running a company. Now that he is not producing revenue his compensated value is likely above his ownership value. If there is not enough profits for him to live on (distribution only) then he needs to come back or sell his equity position.

@@flybyav8tor dad is the principal owner. He sets the rule. He could fire the son and promote the next guy up all the same if he wanted

Dad's not working. He's expecting his son to fund his retirement for the rest of his life. If I were the son, I wouldn't have set up such a terrible business partnership. If I were in his situation, I'd be stockpiling cash. I'd stop trying to grow the business at all. I'd get ready to buy dad out. Instead of growing the partnership business. I'd start my own side business offering other services. If he refused a reasonable buy out. The partnership would get the bare minimum to keep it running and I would focus on my business. Once my business exceeds Dad's. I would offer him another buyout and just stop participating after that. Dad and I can both pull salaries for doing nothing. I'll focus on my own thing.

@@getinthespace7715 dad doesn't need to work when it's HIS company. He also he zero obligation to sell. Son doesn't like it then he can leave And start his own business

Just don't complain when you're 80 and your kids don't want to take up the family trade.

@@GeneralChangFromDanang the business will be closed when I'm 60. It'll be a good day

It's a false assumption that only the two of then could run the business. Plenty of owners hire managers to do that for them.

Dad's not coming in to the office every day. That doesn't necessarily mean he's not still officially working for the company.

you don't think he's saving any money or buying assets that he can liquidate if needed once retired? lol social security wouldn't give him shit and it probably won't exist by the time he's retired