- Joined
- Oct 17, 2007
- Messages
- 295
Hi
I own some commercial property and already have several corporations set up under my own name. I have just had an accepted offer on a 22 suiter. I will be bringing in a new JV partner to put up the cash. He already has his own corporation as well. My question is, should I incorporate everytime I get into business with a new JV or could we not just put the agreed % to each of our corporations? I already have several corporations and tax returns and would love just to have everything under one umbrella. Both my accountant and lawyer danced around the question giving me wishy washy answers. I am curious to what REIN members have done in this situation.
Thanks
Mark
I own some commercial property and already have several corporations set up under my own name. I have just had an accepted offer on a 22 suiter. I will be bringing in a new JV partner to put up the cash. He already has his own corporation as well. My question is, should I incorporate everytime I get into business with a new JV or could we not just put the agreed % to each of our corporations? I already have several corporations and tax returns and would love just to have everything under one umbrella. Both my accountant and lawyer danced around the question giving me wishy washy answers. I am curious to what REIN members have done in this situation.
Thanks
Mark