How to start an Airbnb business under C Corp as a side business

[Jason Wong]

Hi Community member,

I am new to this community, and would like to ask some advice regarding a plan I am thinking. Appreciate for any help. Currently I have a full time job, and I make around 200k+ a year. I am thinking about starting an Airbnb business under C Corp, and would like to ask a few newbie questions around tax.

1) Buy a few cheap properties under my name, all with mortgage (20% down payment)

2) Set up a C-corp, and move over those properties to C Corp

3) List these properties in Airbnb and income goes to C Corp

I didn't want to use LLC or S Corp since my tax rank is already very high. And using C Corp to shield airbnb income, and plus certain operation tax deduction can help me save lots of money.

Questions:

1, is this plan feasible?

2, what can I count as tax deduction in my C Corp? Like cars, gas, etc, housing maintenance, furniture?

3, can mortgage count as operating cost under C Corp?

4, is this plan better than LLC or S Corp? Since I am already paying like 40% of my income to tax. I am happy to leave all income in C Corp for re-investing purpose without taking them out.