Updated over 7 years ago on . Most recent reply
Owner Occupied, do I pay my company rent?
This is a bookkeeping question. I am living in one of my units during its rehab. Do I want to pay rent? Which would mean that the company receiving the rent would need to pay income tax on the rental income. Is it a wash? Am I an individual paying rent and a company receiving rental income? Or, as a business owner, am I paying an expense to be on a job site?
New at this house hacking, Kathy