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

Comments(1)

  • 17th March, 2003

    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

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