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Tagteam,
There would be no rental. The corporation owns the building and assumes all
responsibility for it. It is the same as if a large corporation allowed one of its
execs. and his wife to use the company time share condo in Miami? There is no
charge, it's a gift. Of, course the implication in your question of longer term is
correct. However, you could be hired as the caretaker and your fee could be set at
free rent and food. Then, the company could elect to gift you $10,000/ yr. and pay
the taxes on it; so you can have a little spending money as a Xmas bonus. It's a
start. Sounds good to me. AMA
tagteam@xxxxxxx wrote:
> Alan Abraham ecrit:
> >...If you own a corporation and it trades, for example, and makes a fortune,
> >and you take no salary, then, you have no income to report......Like it could
> >resolve to buy an expensive house in Malibu and allow you to live in it for free
> >(even stock it with food)....
>
> The "owner" would be compelled to report the fair rental
> value of the house as income, no? Likewise with respect to
> the food eaten.....or am I missing something (again)?
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