Using Printer with Mac Host and Win 7 Guest

[Freedomcoach]

I'd like to be able to use my HP 7310 Printer with my Mac Host and Win 7 Guest. However, so far it seems that I can either print to one or the other depending on whether my VB USB device setting has the HP printer on or off. Has anyone found a config where both OSes are able to share the printer in a cooperative manner? All comments appreciated.

[Perryg]

Yes. It's called network sharing. Restrictions are that the guest and host must be in the same subnet.

[Freedomcoach]

Does this mean I should turn on network sharing in my mac system preferences? How do I make sure that the mac and Windows 7 are in the same subnet?