So if you own the business 50 50, who has the final say so in business decisions? Is the father going to allow you to pay him with profits from the business when he leaves? What if the son turns to drugs and alcohol and cannot get out of bed to complete the mowing route, can you afford to go it alone to finance and run the company.
Get your attorney involved, get contracts signed, make sure you are a signer on all checks and cash withdrawals. Don't be like me and just trust someone. I spent over six years building a business, found the guy committing tax fraud, and keeping $ off the books. I spent a bunch on accountant and attorney fees just to stay out of trouble. I'm a risk taker and would probably do it all over again... but it is your life, be careful.
Quick 32,36,& 44 Dually's
Ferris Evolution 27 Kaw 48"
DR Brush Mower
Toro Dingo 222
ISEKI Diesel Compact Tractor, attachments (bush hog, middle buster plow & land leveler
Steiner all wheel drive Tractor, attachments (stump grinder, rough cut mower, scrape blade & dual wheels)
5X10 open trailer
16' equipment trailer
1997 Ford F-350 7.3 4X4 SRW Crew Cab 8' bed
Last edited by sehitchman; 07-17-2013 at 11:03 PM.