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Updated over 11 years ago,
Combining rental and other businesses into SCorp
I'm self-employed as a graphic designer and am doing business as a partnership (my husband being the partner).
Since we are already paying the $800 a year for filing as a partnership and I've been told by my CPA that the cost of filing my taxes would be the same, we are considering changing the business entity to an S-corp for the added liability protection.
My question is - we have a rental property (duplex) - would it be possible to put our rental property, under the S-corp as well even if the 2 businesses are unrelated? If that is possible, can I do this on my own (via a Legal Zoom, etc) or would I need to seek a real estate attorney? Is this a complex set-up?