Good question for a Real Estate attorney. I doubt it’s practical, unless it’s for Business purposes only. I would think the goal would be to get assets in your name, vs. the Company’s. I don’t know about property, but a personal home can be deprecated for Business use, I was warned years ago, never to let an accountant do that. You can definitely deduct moving expenses though. Might include storage fees, travel. Truck rental. Best ask the Pros.
Buying land, use my company as owner?
Discussion in 'Experienced Truckers' Advice' started by zaroba, Jul 11, 2021.
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If your a sole propritior I don't know that there is any difference, if you inc or llc maybe different, consult business attourney.
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It will be much easier to get a mortgage in your name than for a small company to get a mortgage.
Dockbumper Thanks this. -
Some places might not be zoned for commercial/Ag use and may only be zoned residential so having a business name on the deed may not work.
Personal bank mortgage loans will be easier and as long as you have good credit and income you will be ok. If married and both of you have good steady income even better. Vehicles of worth can be used for collateral as well if need be. We have 2 classic cars that have gotten us great loans over the years.
Bank lenders also love to look at w-2’s that show regular bonuses thrown your way. It helps them with the feel good knowing you always have money coming in to pay them back. -
ownership has zero to do with zoning.86scotty and Dockbumper Thank this.
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