tss4
Contributing Member
Cash: $ 8.45
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Joined: 31 Jul 2005
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| Is part ownership in a business tax freindly? |
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Ok, so I really appreciate all your help in advance. My wife works for a small engineering firm that does research and development in optics. Her office (5 people) is about to split off from the main company (300 people) and form thier own company. The split is so that they can maintain there small business status for government work. She has the opportunity to invest some money in this new company. We're not talking much, like between 5 to 10 thousand. So, my question is, does this equate to owning your own business? Do we get tax benefits? Like, for example, could I deduct her car expenses, etc.?
Thanks
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