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Tax, SDIRAs & Cost Segregation

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Paul Hutton
  • Investor
  • Tampa, FL
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borrowing cash from my corp.for rental purchases tax implications

Paul Hutton
  • Investor
  • Tampa, FL
Posted Feb 23 2017, 07:23

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

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