How should I set up my equine breeding business? I will only have family members as partners.?

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How should I set up my equine breeding business? I will only have family members as partners.?

family members will be partners. I would like to be able to write off on federal and State (Virginia) taxes heavy equipment purchased throughout the years for landclearing (pastures). Should it be a Partnership, S Corporation, LLC, LLP, etc. Thanks.

2006-08-25 09:32:08 · 2 answers · asked by Patricia M 1 in Local Businesses ➔ United States ➔ Other - US Local Businesses

2 answers

LLC

2006-08-25 11:48:44 · answer #1 · answered by rainysnana 4 · 0⤊ 0⤋

file it as an s-corp with dual propreitorship with a 50/50 split.

2006-08-25 09:37:27 · answer #2 · answered by Anonymous · 0⤊ 0⤋