You own a business that needs office space. The solution seems simple: you buy a building and rent office space to your business.
You collect the rent and depreciate the property. Your business gets to deduct the rent it pays you. The money never leaves your pocket.
Self-rental seems like a win-win for business owners, and done right, it can be. But you need to know the special rules that apply to the self-rental and how to make sure your self-rental arrangement works correctly taxwise. ... Log in to view full article.