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2 Replies Latest reply: Oct 2, 2011 8:14 AM by LUCKIEST RSS

New family business: make wife majority owner, how about making teenagers part owners?

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I am in the process of starting my second business.

 

At the moment it is a family business, just me and my wife and maybe the kids.

 

What are your thoughts on giving majority ownership to my wife, so that in the future we can benefit from preferential treatment in loan applications, and set asides from retailers?

 

The other question I have is what about giving my two teenage kids a small stake in the company, as a learning excercise.

 

Any tax complications associated with that?

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