[PapaBear3625]

OK, so professionals will just form a corporation, have it buy a house, and rent it to themselves. All mortgage interest, maintenance, etc will be business expenses.

[Diana in Wisconsin]

“OK, so professionals will just form a corporation, have it buy a house, and rent it to themselves. All mortgage interest, maintenance, etc will be business expenses.”

We plan on doing exactly that when we start farming full time. ;)

[Atlas Sneezed]

OK, so professionals will just form a corporation, have it buy a house, and rent it to themselves. All mortgage interest, maintenance, etc will be business expenses.

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Won’t work. the individual still have income tax on the income they earned to pay the “rent.”

And the corporation breaks even as the rent income offsets the mortgage and other expenses.

It should be repealed, with a long phase out that does not disrupt markets. Perhaps a declining amount that’s deductible each year, with a 15 year transition to zero.