Thanks for your input. I do know if we bought any equipment on a shares basis, our tax man would have a fit and bring up the "partnership" issue. We purchase cattle on a shared basis and he said the IRS would view this as a partnership and we need to set up as a partnership instead of each paying 1/3 individually. I don't understand what difference it makes - we still report and pay taxes on profits, just individually. We have personal insight in the corporation department. My folks incorporated years ago and are now trying to retire. What a mess - the corporation has a lot of money that cannot be accessed without huge tax issues, while my parents personally have no money.
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Today's Featured Article - New Life for an Old Allis - by Tyler Woods. My friend Jon, has an old '39 Allis Chalmers B. He thought it a marginal tractor that had long since served its time. She smoked terribly and never had much power but he couldn't afford another so he was limping along with what he had. Jon's Allis has a small front loader and though it doesn't carry much, it serves his needs. It was the hard starting and low power that made him think it was time to replace the old girl. Jon called me to help him discover why his tractor wouldn't start
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