Must have shop tools

I mentioned earlier a good CPA. In your first post, and another poster also mentioned going into business with a partner. Whether it's a partnership or corporation, if it is friends I will address it as a partnership.

Get a good lawyer and draw up a "pre-nuptual" agreement fair to both parties. It must have a way to dissolve the business when you want to part company.

Going into business with a friend is "almost" always a good way to loose a good friend... I've worked with many, many business partnerships over the years in my work (banking); and business partnerships are the hardest type of business enterprise to keep over the long haul. I would say the two hardest type would be #1, a family partnership; and #2, a partnership with a friend.

Good luck with it,
C