aggiepilot87
Well-known member
- Joined
- Nov 26, 2001
- Posts
- 120
- Total Time
- -
I'm considering buying a larger plane to haul around my family. I'd like to offset expenses by buying and operating the plane under a corporation. The purpose of the business would be flight instruction, which I would do in the plane part-time. I believe I could form the corp as a Sub S type, knowing it would result in a loss each year and I'd be able to offset my personal taxes with that loss.
A couple of quesions -
Anyone else done this? Please offer any comments you'd recommend.
Can a Sub S corp exist with a loss every year indefinitely?
Thanks
A couple of quesions -
Anyone else done this? Please offer any comments you'd recommend.
Can a Sub S corp exist with a loss every year indefinitely?
Thanks