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do any of your wives own the business?

Discussion in 'Business Operations' started by thes, Mar 23, 2006.

  1. thes

    thes LawnSite Member
    Messages: 106

    I am trying to find out the pros & cons on my wife owning the business and me working for her, that way I could apply for part time unemployment in the winter. Has anyone else set up their business this way???
     
  2. AintNoFun

    AintNoFun LawnSite Bronze Member
    Messages: 1,807

    one of our companies is in my mothers name. we do all out d.o.t. and state work through that company becuase we are a state certified w.b.e. its awesome we get so much work because of it..
     
  3. Green-Pro

    Green-Pro LawnSite Bronze Member
    Messages: 1,420

    No but we have "toyed" with the idea. We looked at this mainly as it relates to advantages of minorities/women owning business's when seeking financing. we seem to be fast approaching a point in our young companies life in which we will have to make a decision. remain solo/small and try to be more efficient to boost the bottom line or seek financing to help facilitate growth an efficiency.
     
  4. twj721

    twj721 LawnSite Senior Member
    Messages: 619

    We set ours up in my wifes name even thought she is a full time RN it is her money that started us so it is hers I am just the flunky but proud of it she is a great boss but I have the last word in our talks (YES DEAR) LOL :dancing:
     
  5. olderthandirt

    olderthandirt LawnSite Platinum Member
    from here
    Messages: 4,899

    No she just gets all the money
     
  6. Luvs2Play

    Luvs2Play LawnSite Member
    Messages: 246

    I'm not sure, but I think there is a tax benefit, I have heard something about women being a minority business owner. May or may not be true. It would be something to think about if it is.
    I like the arrangement the way it is here, now she is sleeping with the boss! She's sleeping now, won't know I said that.
     
  7. olderthandirt

    olderthandirt LawnSite Platinum Member
    from here
    Messages: 4,899

    This may come as a surprise but anyone thats married and lives in a community property state, there wife/husband automatically owns 1/2
     
  8. TURF DOCTOR

    TURF DOCTOR LawnSite Silver Member
    Messages: 2,138

    My Wife Own's And,runs A Full Servce Monument Biz.
     
  9. B&D Lawn Care

    B&D Lawn Care LawnSite Senior Member
    Messages: 342

    Mine own's this b/c I own and run another. It's just our way of making it easier at tax time. I have heard something about the whole minority owner thing but have yet to check on it.
     
  10. rodfather

    rodfather LawnSite Fanatic
    Messages: 9,501

    that and everything else too btw :laugh:
     

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