Real Property

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  • tonia2021
    Senior Member
    • Mar 2007
    • 119
    #1

    Real Property

    I have a customer that operates a business as an S Corp. He is thinking about purchasing a building for rental property. He will rent it to his business as well as other rental space.

    Should this building be purchsed by the S Corp, him personally, or through an LLC?

    Any advise would be appreciated.
    Tags: None
    • ChEAr$
      Senior Member
      • Dec 2005
      • 3872
      #2
      Two rules

      Originally posted by tonia2021
      I have a customer that operates a business as an S Corp. He is thinking about purchasing a building for rental property. He will rent it to his business as well as other rental space.

      Should this building be purchsed by the S Corp, him personally, or through an LLC?

      Any advise would be appreciated.
      rule# 1; never ever put real estate in a corporation.

      rule# 2; when ever in doubt, refer to rule #1.
      ChEAr$,
      Harlan Lunsford, EA n LA

        Comment

        • Burke
          Senior Member
          • Jan 2008
          • 7068
          #3
          He should purchase it personally, or form an LLC for ownership, and rent it to the SCorp with a proper lease.

            Comment

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