1. Missed the live Ask the Expert event?
    Not to worry. Check out the archived thread of the Q&A with Ken Hutcheson, President of U.S. Lawns, and the LawnSite community in the Franchising forum .

    Dismiss Notice

Rent/lease shop

Discussion in 'Business Operations' started by JFGLN, Jan 16, 2007.

  1. JFGLN

    JFGLN LawnSite Senior Member
    Posts: 950

    Can I lease a shop, built on my property, back to myself? We are set up as an S corporation.
  2. Flow Control

    Flow Control LawnSite Bronze Member
    Posts: 1,267

  3. JRSlawn

    JRSlawn LawnSite Senior Member
    Posts: 636

    Wow I never herd of that. Allthough we are an LLC
  4. GreenN'Clean

    GreenN'Clean LawnSite Bronze Member
    Posts: 1,512

    Yes as long as your a S corp you are allowed. Thats what I do and have been for the past 3 years
  5. meets1

    meets1 LawnSite Gold Member
    Posts: 3,775

    I do the same thing. I own the building, S Corp pays rent, therefore I collect rent and make my payment!

    Do you guys just pay yourselves rent from the biz? OR do you have the biz pay for all water, sewer, phone, electricity bill etc? Say pay rent for 1K & utitlities are 200 / month? So does the biz pay for the entire 1200 or just the 1K in rent. Then there is insurance, property taxes??
  6. paponte

    paponte LawnSite Silver Member
    Posts: 2,366

    Yes you can. You can even rent yourself a room for an office and a rental spot to park your truck if you really wanted to. Alot of larger companies have their own leasing companies specifically for that reason. :)
  7. Fantasy Lawns

    Fantasy Lawns LawnSite Bronze Member
    Posts: 1,913

    SSsshhh .... ya'll are letting the cat out of the bag ....in advantages of Inc & LLC
  8. Vikings

    Vikings LawnSite Bronze Member
    from canada
    Posts: 1,667

    You take money out of your right pocket and put it in your left pocket...;)

    I'll never get the hang of this.
  9. crzymow

    crzymow LawnSite Senior Member
    from Pa
    Posts: 378

    big thing it helps with are corp. taxes, dont want to have any money in your account at the end of the year, corp taxes are higher

Share This Page