Okay guys I have a good one for you. My father in law has recently retired and taxes are killing him. Due to the up-comming season I am looking to purchase new equiptment to the tune of about $15,000.00. Rather than going to the bank we would rather work a "buy-in" out with my father in law. What we are looking to do is sell him a percentage of my llc for $15k. So far this is easy enough. Here's the kicker. We are looking into helping him out on his taxes. So far we have thought about the business leasing the equiptment from him in a way that would show him taking a loss. We want to keep this as simple as possible and would rather not go through the hassle of creating another corp "father in laws rental equiptment or whatever". Any of you guys have any ideas? Thanks in advance for your help.