...is it just like buying a meal from your restaurant?
2007-11-05 11:14:42 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
zoning may also enter into it. Is it an apt building or an office bldg? If it's an office bldg, living there may not be allowed
2007-11-05 13:15:57 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It may be legal, but it may increase your tax impact. Generally it is not advisable to own real estate with a corporation. You can not use a Sub S corporation for real estate. In many states people are using a "limited liability company" type of ownership. Consult your CPA for options in your state,
2007-11-05 21:35:08 · answer #2 · answered by Bibs 7 · 0⤊ 0⤋
It is leagal as long as you charge yourself the going rate for renting a room.
The question is... what does the corporation do with the rest of the building. That may be your sticking point.
2007-11-05 20:21:34 · answer #3 · answered by Tim 7 · 0⤊ 0⤋
it is illegal if you do not use it for business related purposes (to hold meetings/conferences, storage)
2007-11-05 19:17:42 · answer #4 · answered by Anonymous · 0⤊ 0⤋