It could provide human resource, marketing, bookkeeping, and/or administrative services. (Location 1481)
Ideally, we’d like the primary business to end up with no more than $315,000 of income, so we don’t get above the 24% tax bracket. The rest of the income can go to the regular corporation. (Location 1490)
Let’s suppose that instead of buying your dream home, you decide to buy a house that needs some fixing up. There are lots of houses like this. I have a friend who loves to find homes that are a real bargain in part because they need a lot of improvement. She has become an expert at deciding what needs to be done to a house to maximize its value. She also hates paying taxes. (Location 3509)
Beyond the personal satisfaction of working together on a project, my friend and her husband enjoy tax advantages for doing this. In the United States there is no tax on the sale of a personal residence so long as you live in it two out of the past five years. (Location 3515)