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E ND | I'd be interested if there is a CPA that would advise on setting this up. I know a lot of people will create separate company under their wife, or kids or the family and "own" the facilities, equipment for feeding, etc. The cattle company buys and sells the animals and pays yardage or rent to the other entity which is what pays out wages to the operators. Not sure how you'd handle feed but again I think it would fall under the separate entity charging yardage. It would help keep the business separate and make decisions on buy/sell feed and cattle or custom feed.
It's pretty common on the contracting side so their must be some tax advantages to be gained there somewhere. | |
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Charging yardage to yourself
