LogFAQs > #954981238

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Topic	Stock Topic 30
red sox 777 06/14/21 1:13:31 AM #352:	Forceful_Dragon posted... Can you use your corporation to purchase a computer for yourself to use and a house for you to live in? Y'know for business purposes to facilitate the further success of the business? Because then you could make some large expenses with gains that have only been taxed once right? I'm much more familiar with individual taxes as compared to business Returns so I'm legitimately unsure. I'm thinking probably not if all this business does is invest in stocks. Or rather, the corporation could buy the house, but if I'm going to live in it as my primary residence without paying rent I'm probably at least going to be imputed with personal income and taxed on it. --- September 1, 2003; November 4, 2007; September 2, 2013 Congratulations to DP Oblivion in the Guru Contest! <cite>red sox 777 posted [p:954981238] in Stock Topi... [t:79483078]...</cite> <quote>Forceful_Dragon posted... </cite> <quote>Can you use your corporation to purchase a computer for yourself to use and a house for you to live in? Y'know for business purposes to facilitate the further success of the business? Because then you could make some large expenses with gains that have only been taxed once right? I'm much more familiar with individual taxes as compared to business Returns so I'm legitimately unsure.</quote> I'm thinking probably not if all this business does is invest in stocks. Or rather, the corporation could buy the house, but if I'm going to live in it as my primary residence without paying rent I'm probably at least going to be imputed with personal income and taxed on it. --- September 1, 2003; November 4, 2007; September 2, 2013 Congratulations to DP Oblivion in the Guru Contest!</quote> ... Copied to Clipboard!
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