A. One of the "problems" they were trying to fix related to Social Security. If you split the income from a farm or other small business using that IRS partnership arrangement, both spouses can qualify for their own Social Security retirement and disability benefits.
B. Partnerships have many other useful applications if you want or need to allocate income or expenses or other things from a single business activity among a group of people.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
... [Read Article]
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1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
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