Hopefully this isn't a stupid question but, I've talked to my long standing accountant (that I inherited) about this subject and he doesn't show much interest in getting me the information I’m needing. I currently own a successfully electric contracting business in Illinois. I'm looking to create a “holding company” that could bring me tax benefits by commingling service. This is what I had in mind:
XXX Holding Company
XXX Electric
XXX Real Estate
XXX Tooling
XXX Holding Company
XXX Electric
XXX Real Estate
XXX Tooling
- My electrical business will rent tools from my tooling company. My electrical business will rent property from my real estate company.
- My tooling business will purchase tools from profits of the holding company which owns the profitable electrical company.
- My real estate business will purchase real estate from profits of the holding company that owns the profitable electrical company.