Anonymous
Anonymous asked in Business & FinanceSmall Business · 1 month ago

If you own a small limited liability business, say a news stand, would you purchase your home under the business to park it as expenses?

in doing so, the expenses (loan) will reduce the taxable income , while the appreciation will not be taxed but only to add to your net worth, which you can pledge it for cash. 

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  • Eva
    Lv 7
    1 month ago

    The whole idea of a LLC is to keep your business and personal assets separate. There's no way that putting a personal residence under the LLC makes it a bona fide business expense. In the US, personal residence expenses might be able to be deducted as a home office expenses if a room in your home is dedicated to the office work that needs to be done for your business, but you still wouldn't purchase it under the LLC.

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  • Tavy
    Lv 7
    1 month ago

    No Lender will give you a business loan for a property.

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  • Judy
    Lv 7
    1 month ago

    no, you'r not allowd to do that.

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