Corporation or Not?
Hello,
I have just incorporated (S) and am wondering if it is benificial to put my leased vehical, and any of my properties under the corporation?
I have one property I just bought and will be doing a lease purchase for a year on, would it be advisable to have it in my corporation name? I plan on buying more properties and doing the same unless I can flip them, that is what I would like to do.
This is my first stab ar REI, I have bought houses before and sold them but they were my primary residence.
Any help would be greatly appreciated.
Please forgive some of the spelling, good thing I am not getting into writing.
Dave
Dave:
Personally, I never use a corporation for holding real estate or contracting to buy real estate. I prefer the LLC, as it has many more liability protection and creditor protection provisions.
I have discussed the differences in some of my posts. Search for "taxjunkie" to find those posts.
Good luck,
Taxjunkie