Buying a Property Throught another "S" Corporation

[Hpkieffer]

What is the name of your state (only U.S. law)? Ohio


I live in WY but plan on setting up the "S" corporation in Ohio


I'm planning on starting up a "S" corporation for Home Automation, Development ,and product sales. I want to buy a old Mansion and restore it and use it as a show room for new my products as well as test them there. My question is should I set up LLC and buy the property and then lease it back to to my main corporation ?Could someone please give me the pros and con's of doing this ?

Thank You

H.P

 

[tranquility]

For this you need books, numbers and expectations. See a CPA.

 

[Antigone*]

For this you need books, numbers and expectations. See a CPA.

As a banker, I would suggest exactly the same to you as Tranquility.

What you are suggesting is very common, just make sure by consulting a CPA that it makes sense for both the business and for your personally.