Expert: Phil Nicols - 11/23/2008

Question
How can I buy a home in my business name? I have a software consulting company, personally I have very good credit (700s and trending up), and currently own a house that I occupy.  I am considering either renting my current home or renting the new I purchase in the business name. The new home will either be a townhouse in the $400k range or a single family home in the $650 range in midtown Atlanta area. My main questions are around the procedure for purchasing the home in my business name. What are the benefits of doing this? Thanks for all your time.

Answer
simply replace your name with the business name.

there are pros and cons however I'm based near Toronto Canada. Our laws, tax structure are going to vary from yours.

talk to your accountant and your lawyer for specifics on your situation in Atlanta.

best, Phil