|
Long ago I worked with a guy that did that. He set up an LLC and bought a house in the companies name. He then rented the house to himself for nearly nothing. He wrote off the payments on the house and expenses of the house as business expenses. This was a long time ago and I don't remember all the details of how he had it set up, but I do remember that in the four years I worked with with him he got audited by the IRS twice and he said it happened all the time.
So if you are going to do something like this, you better make sure you have everything just right or you could get reamed.
|