Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply presented by

User Stats

12
Posts
1
Votes
Paul Hutton
  • Investor
  • Tampa, FL
1
Votes |
12
Posts

borrowing cash from my corp.for rental purchases tax implications

Paul Hutton
  • Investor
  • Tampa, FL
Posted

I borrowed cash from my canadian corp to buy rentals all cash in the florida market. I will wright up a loan to myself from the corp to an interest rate that will completely offset any tax owing at years end from the rental income. The corp profit from the interest I pay it will be reduced as i take a salary from the corp large enough to and use my carry forward losses in my personal name to reduce my corp tax to zero. I use the personal losses to reduce personal to zero  as well. All of this is with cra in canada.

will the irs question this or the 54 cents per mile for repairs etc as i travel 2400 miles round trip to do this as well as gas food hotels on the way? Also i can do the 2800 a yr depreciation on 77k purchase? based on the 27.5 yrs rule... as well as anything else someone wishes to chime i on that i can use to reduce to zero Thanks

Loading replies...