At first glance, the corporate tax rules for forming an S corporation appear simple. They are not.
Here is what your business must look like when it operates as an S corporation…
All in s corporation
At first glance, the corporate tax rules for forming an S corporation appear simple. They are not.
Here is what your business must look like when it operates as an S corporation…
The strategy behind creating an S corporation and then selling your home to that S corporation comes into play when you want to convert your home to a rental property and take advantage of the exclusions, or you need more time to sell the home to realize the benefits of the $250,000 exclusion ($500,000 if filing a joint return).