2007-01-18 11:00:09 · 16 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
If the house is in a business name then yeah you could probably show rent being paid as business revenue and mortgage payment as business expense. But if the title of the house is in a person's name then it doesn't make sense to because banks will not accept rental income as personal income on a house that you are living in and own for refinance or purchase purposes. So it beats the purpose.
2007-01-18 11:09:22 · answer #1 · answered by Amit 1 · 0⤊ 0⤋
If a person buys a house they COULD try to rent it to themselve, but it would just waste money writing checks...you should just buy a house and open the business with no renting needed! If you aren't going to live in this house you can run the business on the floor level and rent out the upstairs. That is perfectly legal!
2007-01-18 11:03:47 · answer #2 · answered by gwolf3 2 · 0⤊ 0⤋
If the house is bought in the name of the business, then the business can rent the house to any one including yourself.
2007-01-18 11:03:24 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yes
2007-01-18 11:02:34 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Only the part of a home used 100% for business can become deducted the last I knew.
2016-05-24 04:59:09 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Hello..
Yes, of course....
Many people do this, when they have conditions that improve their tax situation by doing so.
You just assign that asset to the business as a capital investment.
Namaste,
--Tom
2007-01-18 11:03:49 · answer #6 · answered by glassnegman 5 · 0⤊ 0⤋
Yes.
2007-01-18 11:02:16 · answer #7 · answered by Anonymous · 0⤊ 0⤋
The other way around...yes!
2007-01-18 11:02:08 · answer #8 · answered by Mijoecha 3 · 0⤊ 0⤋
yes, but why would you rent it to yourself when you already own it?
2007-01-18 11:03:21 · answer #9 · answered by Baby J 3 · 0⤊ 0⤋
Yes, you can..... but do you really want a landlord that knows THAT MUCH about you?
2007-01-18 16:18:11 · answer #10 · answered by teran_realtor 7 · 0⤊ 0⤋