My tax guy recommended that I rent the equipment to my S Corp and this new 'rental' company can be ran through a sole prop tax ID. If the truck payment is $1,000, the S Corp would pay $1500 in rental fee to the me as a sole prop. The extra $500 would cover maintenance and depreciation.
Would this be a good idea or more problems than before?
Can I pay the truck payment through the S Corp AS IF the S Corp owned the truck?
