Home Newsletter Resources

Go Back   Small Business Forum > Small Business Management > Accounting and Taxes
Register FAQ Members List Calendar Search Today's Posts Mark Forums Read

Reply
 
LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 10-25-2007, 12:24 PM
sdcary sdcary is offline
Junior Member
 
Join Date: Oct 2007
Posts: 1
Is it ok to use S-corp to hold rental property

Hello,
I have an S-corp which holds 2 rental properties. I am the sole officer and shareholder. I made it an S-corp to be able to limit liability to just the S-corp.

I intend to hold the properties for long term and eventually give them to my kids. How do I do that with minimal tax impact for them?
Can I grant them shares in my S-corp now, or do that later? Or is this dictated in an estate plan?

Is it better to own the properties in my personal name and let them inherit?
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #2 (permalink)  
Old 11-01-2007, 07:25 AM
Triton Triton is offline
Senior Member
 
Join Date: Oct 2006
Posts: 172
Re: Is it ok to use S-corp to hold rental property

I am not a tax advisor but one of the things you could consider is when you no longer need the income let them recieve the income from the properties "because they are managing them" and hold the properties until you die and have them transferred to them via the estate. There maybe some legistlative changes coming up so you should keep an eye out for them. But every case is different you should see an advisor on this.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #3 (permalink)  
Old 11-05-2007, 05:48 AM
Small Business Consultant Small Business Consultant is offline
Member
 
Join Date: Sep 2006
Posts: 91
Re: Is it ok to use S-corp to hold rental property

I agree this is something you should pay someone to provide you advice on but the last post seems to make sense.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Reply



Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

Similar Threads
Thread Thread Starter Forum Replies Last Post
non-residential rental property (depreciation question) curt1s General Small Business Discussion 0 07-29-2005 08:29 AM
Taxes & Payroll for S-Corp in Illinois casual Accounting and Taxes 1 11-12-2004 12:47 PM
How to determine S-corp reasonable salary? jlj Accounting and Taxes 11 11-10-2004 09:59 PM
NJ home based sign biz- LLC or S corp? PD1 General Small Business Discussion 1 11-01-2004 10:18 PM


All times are GMT -4. The time now is 02:27 AM.


Powered by vBulletin Copyright ©2000 - 2008, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.0.0 RC5
smallbusinessforum.com

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29