Hiring your own corporation - Posted by al

Posted by dealmaker on March 23, 2006 at 16:26:18:

Not even a wash. You would have to pay social security (both sides) on you “income” in the corp. You don’t pay that on income from the ppty.

dealmaker

Hiring your own corporation - Posted by al

Posted by al on March 22, 2006 at 19:30:09:

Are there any legal implications to hiring my own construction corporation to perform work on a personal investment property? In essence paying myself for working on my investment property that I will be flipping shortly.

Re: Hiring your own corporation - Posted by Natalie-VA

Posted by Natalie-VA on March 23, 2006 at 16:09:26:

Al,

Just curious…why would you do this?

It seems to me that if you have receipts for your construction company, that will reduce your profit and tax liability on the house. On the other side, you will have to pay tax on the income to your construction company, right? It seems like it would be a wash.

–Natalie