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- Jan 17, 2015
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Hi:
I have picked up on this forum over the years and thought I would join and see if I can get any tips on the following:
I have allowed my sister and her son to live in my 2sd house (One that I paid off yrs ago) rent free (they paid me no rent and I did not ask for it) for 6 yrs now. After being laid off from his job in 2009 and getting a degree in some form of radiology, the son still cannot find a job.
I finally gave them a demand letter saying something like "I can't do this anymore, you must pay me rent of $XXXX, a fair market value, or surrender possession.. by YYMMDD."
They are distraught - no money and no place to go except very small apartments.
I thought of a one last alternative: the house is big - if they moved into one-half of it, I could use the other half, maybe, as an office for own my own small consulting company,a "C". I am sole owner, - I could charge my company rent (reasonable amount not sky high) for the space used for the office (no foot traffic, just computers and phones - no zoning issues) and reduce the rent on the other portion of the house used by my sister and her son. I have not seen anyone address an issue where someone rents a portion of one's personal property to one's company. I wonder what that would like on the corporate tax side and on the personal income side. if anyone has done that or knows of it please let me know. Thank you.
I have picked up on this forum over the years and thought I would join and see if I can get any tips on the following:
I have allowed my sister and her son to live in my 2sd house (One that I paid off yrs ago) rent free (they paid me no rent and I did not ask for it) for 6 yrs now. After being laid off from his job in 2009 and getting a degree in some form of radiology, the son still cannot find a job.
I finally gave them a demand letter saying something like "I can't do this anymore, you must pay me rent of $XXXX, a fair market value, or surrender possession.. by YYMMDD."
They are distraught - no money and no place to go except very small apartments.
I thought of a one last alternative: the house is big - if they moved into one-half of it, I could use the other half, maybe, as an office for own my own small consulting company,a "C". I am sole owner, - I could charge my company rent (reasonable amount not sky high) for the space used for the office (no foot traffic, just computers and phones - no zoning issues) and reduce the rent on the other portion of the house used by my sister and her son. I have not seen anyone address an issue where someone rents a portion of one's personal property to one's company. I wonder what that would like on the corporate tax side and on the personal income side. if anyone has done that or knows of it please let me know. Thank you.