Whether it is a corporation, partnership trust or individual business all the income goes back to a tax id number. And since you are the owner it would all go back to you to report on one income tax form. No tax advantage.
I have 2 accounts one farming and one personal but they all get combined on one tax form. Only reason for it is so the wife writes checks out of one account and me the other but we can both write out of either. It's just easier to keep track of balances with one person writing out of each account.
With 3 business accounts you will be forever transferring money back and forth into and out of accounts so that one account or business doesn't have to borrow money.
Forget the accounting headaches and run it as a one farm operation. It all ends up the same.
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Today's Featured Article - Tractor Profile: Allis-Chalmers Model G - by Staff. The first Allis-Chalmers Model G was produced in 1948 in Gasden, Alabama, and was designed for vegetable gardeners, small farms and landscape businesses. It is a small compact tractor that came with a complete line of implements especially tailored for its unique design. It featured a rear-mounted Continental N62 four-cylinder engine with a 2-3/8 x 3-1/2 inch bore and stroke. The rear-mounted engine provided traction for the rear wheels while at the same time gave the tractor operator a gre
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