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 - Timing Your Magneto Ignition Tractor - by Chris Pratt. If you have done major engine work or restored your tractor, chances are you removed the magneto and spark plug wires and eventually reached the point where you had to put it all back together and make it run. On our first cosmetic restoration, not having a manual, we carefully marked the wires, taped the magneto in the position it came off, and were careful not to turn the engine over while we had these components off. We thought we could get by with this since the engine ran perfectly and would not need any internal work. After the cleanup and painting was done, we began reassembly and finally came to t
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