Living in Remodel during remodel

[Stephen D.]

My wife and I have purchased a home that we intend to live in while our new construction is being built. I have purchased the home in the name of my LLC and will be living in the home while it is being remodeled.

What I am thinking about doing is putting everything in the name of my LLC (water, trash, elec, cable, etc) and implementing a lease agreement between myself and the LLC that lays out everything(including landlord being responsible for named utilities). The goal of this being to write off all these expenses come taxes next year.

Any thoughts to this? Ways I may be able to implement the plan better? How much should I charge myself in rent? Does it need to be market  or can I put a nominal number in there like $1?

I know this isnt rocket science what we are doing here, but its new to me and I would like to hear opinions of others. 

Thanks, 

Stephen

[Basit Siddiqi]

@Stephen D.

It sounds like you are trying to make expenses that are personal in nature as a business deduction...
That is not allowed.