If a corporation owns my house and doesn’t charge me rent, then imputed rent is a taxable benefit. Same with a car. If my corporation owns a biz jet, then the

If a corporation owns my house and doesn’t charge me rent, then imputed rent is a taxable benefit. Same with a car. If my corporation owns a biz jet, then there has to be a purpose to the travel it offers. The IRS is going to look askance at trips to Hawaii with your spouse and kids being explained as “for business”. Best case, they identify it as a taxable benefit and then you pax tax, interest, and penalties. In general, I think there’s an overestimation of what the IRS hasn’t already cottoned to WRT people trying to live within a corporation. Now family trusts are different, but that’s not the subject of discussion.