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

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  • From: Richard Stewart <rstewart AT zoomtown.com>
  • To: Market Farming <market-farming AT lists.ibiblio.org>
  • Subject: Re: [Market-farming] setting up an LLC
  • Date: Mon, 31 Dec 2012 14:20:07 -0500

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



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