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Drusser
Feb 23, 2007, 07:46 AM
If an individual owns and operates several corporations and that income flows over into his personal financials, does the proerty taxes for his personal residence appear on his own Proft & Loss statement?
AtlantaTaxExpert
Feb 25, 2007, 08:57 PM
Not under Generally Accepted Accounting Principles.

Corporations are considered totally separate entities for both legal and tax purpsoes. There should be NO mixing of assets.