What are the advantages (if any) of purchasing a home under a corporation?

[nym9]

What is the name of your state? NY

Is mainly for privacy, taxes, protection from lawsuits?

 

[HomeGuru]

What is the name of your state? NY

Is mainly for privacy, taxes, protection from lawsuits?

**A: there are hundreds of website and books on this subject. Search.

 

[FlyingRon]

If it is your personal residence, there's probably a good number of reasons to NOT do it under a corporation.

If it is for investment or business property, then it *MIGHT* help. However it's far more involved than a yes/no answer. As HG says, do some more research. If you don't know, get a competent professional advisor tor review your situation.

 

[nym9]

If it is your personal residence, there's probably a good number of reasons to NOT do it under a corporation.

If it is for investment or business property, then it *MIGHT* help. However it's far more involved than a yes/no answer. As HG says, do some more research. If you don't know, get a competent professional advisor tor review your situation.

Personal residence and home business, thats why its a little confusing weighing the pros and cons.

 

[FlyingRon]

Tax wise, it's a detriment to have your house held by a corporation. Your principal residence gets very favorable tax treatment. As far as the home office, it makes no difference one way or the other.

As far as privacy goes, it's going to be slightly harder to trace who owns the corporation than it would be to look up a direct owner.

If you are a sole proprietor in the business, there's not going to be any liability shield (you're responsible for your own acts even with a corporation). Further, any protection your jurisdiction may give you on your homestead probably won't fly if you down own it as a person.