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To: Cogito Ergo Sum who wrote (2274)12/18/2001 12:01:31 AM
From: trustmanic  Respond to of 11633
 
Kastel,
The catch of partnership is the 3 years tax free(I believe,but I am not an accountant This is what my accountant told me) and afterward you are responsible for all the tax(usually more than they pay you) so the only way to escape from the taxman is to put it in some tax shelter.For example, you kids have no income, so some income under their name won't hurt, but if you make millions(not me) it will add up.

George


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