Does a person need to tithe on their small business when it makes a profit?
QUESTION: Keland and his wife have started a new small business. They have created an accessory to the iPod. They will have a working partner in this who will get a percentage of what they make. How do they tithe for the company?
ANSWER: You don’t tithe on the company, you tithe on your net increase or net profit. Every year, tithe on your profits that you take home. Also, don’t share ownership with someone, but share profits. Based on the profitability of the profit and loss statement, they get a certain amount of profits, but you guys own the company. They get the benefits of ownership, but if they leave you don’t have to buy them out. It’s a compensation method rather than an ownership position.