Transferring Property Into An S Corp
I bought a rental property about 2 years ago in my name. I would like to transfer it into my S-corp. What is process for doing this? Are there any benefits/drawbacks to making the transfer?
Thanks in advance for your responses.
Nate
You want it in an LLC. This way if there ever is a problem they cannot pierce the corporate vale and attach your personal assets. I have mine in a S corp and I am moving it into an LLC now as well. The tax implications are more or less the same.