Can I live in a house owned by my S corp?
There is no S corp rule or regulation to stop you from buying a house through your business. In fact, an S corporation is one of the types of business structures often considered for a business that will focus on real estate investing.
What is the advantage of putting your house in an LLC?
You can tap into a few great advantages when you buy a house with an LLC. These advantages include increased privacy, limited liability, tax benefits and partnership opportunities. Buying a house with an LLC also allows you to keep your business separate from your personal life.
Can an LLC get a mortgage?
1. Conventional Mortgage Loans for LLCs. Yes, business owners can get a conventional mortgage loan under an LLC name, and often for affordable interest rates.
Can I sell my property to my limited company?
Although you own the property, you cannot sell it at a discount to your limited company. This is because it is a sale and purchase transaction and tax implications must be considered. Consequently, the property must be sold at open market value.