[Market-farming] setting up an LLC

Richard Stewart rstewart at zoomtown.com
Mon Dec 31 14:20:07 EST 2012


Divide the house from the farm.  Anything not directly used for the actual home is farm.  The tractor should be 100% farm.  Don't worry about percentages just divide separate everything you use on the "farm" from the home.

Keep it simple.  If you or your tax person is worried about it just rent it to yourself from by the farm when you use it for personal stuff. 

Insurance will be MUCH easier too once you do this.

An LLC is very simple to divide amongst partners.  We have four owners.  Each owns a single share.  All family owned all inheritable and dividable amongst the children.

Richard Stewart
Carriage House Farm
North Bend, Ohio

An Ohio Century Farm Est. 1855

(513) 967-1106
http://www.carriagehousefarmllc.com
rstewart at zoomtown.com
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