Proprietary income vs. Professional services
I am looking at reports that include Proprietary Income as part of VA--so this has payments to self-employeed people. On a percentage basis all of VA plus other commodity demand (Gross Absorption Coefficients) equals 1. One of the commodity demands is for professional services (lawyers and the like). What is the difference between these legal services and self-employed people?
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Legal services hires manywage and salary workers (clerks, secretaries, etc.)0
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Legal services hires manywage and salary workers (clerks, secretaries, etc.)0
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So the lawyers would be (if self employed and hired by an establishment) under proprietary income and their support (secretaries, etc.) would be under legal services. Correct?0
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So the lawyers would be (if self employed and hired by an establishment) under proprietary income and their support (secretaries, etc.) would be under legal services. Correct?0
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If the legal firm is structured as private/self-employed, then the proprrietor would have proprietor income. If stuctured as a corporate firm (eg, sub s) then the profit would be other property income. All employees (even the owner of the sub s stock if working for the firm) would have employee compensation.0
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If the legal firm is structured as private/self-employed, then the proprrietor would have proprietor income. If stuctured as a corporate firm (eg, sub s) then the profit would be other property income. All employees (even the owner of the sub s stock if working for the firm) would have employee compensation.0
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