You'll also sometimes see "corporate owned" which means the same thing.

You can use the actual percentage of expenses(based business/ total miles) or the standard mileage rate.If you have a corporation that owns the vehicle it is to charge you (via w-2) for the fair market value of your personal use of the vehicle.IRS Pub 17 page 185 US Tax Court Pages 15 & 16IRS Publication 15 Fringe BenefitsAdvertising display on car.

If you do not follow a fairly strict separation of company from personal the courts can pierce the corporate veil, or disregard the company and make you personally liable.

I work in corporate America and make decent money but I would like to purchase an investment property with the help of outside financing.Would it be beneficial to create a business entity to protect myself or should I wait until I have a few investment properties first and just practice creative financing in the meantime.

The perfect complement will be for you to get your agent's license, which will help with MLS access, comping properties, controlling deals, networking with other agents to get first crack at new listings, etc.

Also if you are sued, you will be subject to IL law.Do either of you have existing corporations?

for asset protection, you would want one entity (for example, LLC, corporation, trust, etc) to own only one or a portion of all your holdings. one for the land, one for the single family (and some future single family), one for the MHP, one for the development land.

I live in a rural town. starting an S-corp because it's more professional i think owning a corporation and being able to say I own_______and what we do is______people seem to be more interested.

I rent out a fully furnished luxury apartment in London so the first thing I would say is to research and make sure that your market has demand for corporate or high income renters.

I get my tax benefits by doing massive 401k contributions because I work for my own corporation that has very generous matching policies, and also employs my wife who is the beneficiary of those same generous profit sharing 401k contributions.