Thanks for the additional information @Rick19744
It gives us a few things to think about. We treat everything as "ours" and it's hard to image that ever changing. We aren't changing it in an effort to avoid taxes. I've become much more involved in the business as it's grown. We're changing it to reflect this, but ultimately the reason for doing this is to reflect a higher income for myself so that I can a a rental property. Mortgage in my name only, but with both names on the need. We managed to purchase our home in her name only. In a couple of years this would put us in a position to save the 20% down and my income alone should be sufficient to secure a mortgage on a rental property.
Please let me know if this is illegal or would cause us problems in some way. If you own a small business, you know the hoops you have to jump through the get a mortgage. I learned a lot doing all the paperwork for the mortgage own our home. I'll have to provide two years of income and this is a way to bump that number up enough to ensure we (I) get approved.
