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market-farming - [Market-farming] setting up an LLC

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  • From: "Beth Spaugh" <lists AT rhomestead.com>
  • To: "'Market Farming'" <market-farming AT lists.ibiblio.org>, "'High tunnel discussion list'" <HIGHTUNNELS AT LISTSERV.KSU.EDU>
  • Subject: [Market-farming] setting up an LLC
  • Date: Mon, 31 Dec 2012 12:16:48 -0500

I probably need to set up an LLC for the farm, to protect personal assets.  Can any advise on how to divide assets such as tractors, hoophouses, between personal and farm?  What are the ramifications for depreciating new purchases?  Do you make all new large purchases farm purchases, or buy new tractors/hoophouses personally and somehow expense them out?

 

At this point it is sole proprietorship, but I hope to find someone to bring in to expand or take over.  Advice on how to set it up to bring new members in?

 

Any and all advice is appreciated at this stage.  Recommended books?  So far all the online stuff I’ve found has been extremely general.

 

Thank you.

 

Beth Spaugh

Rehoboth Homestead, Peru NY

http://rhomestead.com      http://www.facebook.com/rhomestead

 

"How we eat determines, to a considerable extent, how the world is used." - Wendell Berry

"Without power over our food, any notion of democracy is empty." - Frances Moore Lappe

It's not that nice guys finish last. They have a whole different notion where the finish line is. - unknown

 

 

 




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