I understand that what they describe is a common practice. Two corporations, one owns the assets, the other is the operations arm and rents from the other for tax benefit.
The heavy industry (metal) from which I retired 16 years ago did just that, as did the other plants nearby.
“I understand that what they describe is a common practice.”
Our company will do it in the future, when we’re cash-ready to build our own building and get out from under the cash-cruncher of renting space.
What the heck do the LibTards think happens in every HOME across America that’s smart enough to have a home-based business of some kind for the tax write-offs? While not exactly “paying yourself rent” for the use of a portion of your home to conduct business, you do get a tax break on expenses in that area; a portion of your mortgage, your utilities, depreciation on equipment and furniture, etc.
Crud. I’ve probably just given old Judy Robeson (D, Beloit) yet another idea to wring yet another dime out of me, LOL!
Look out Avon, Amway and Tupperware Ladies of Wisconsin! Judy’s gunnin’ for YOU next! ;)