I'll be starting a small business within the next 6 months.
I'll be building a builiding, buying land, and purchasing equipment to do so.

Do YOU own the land/business, charging yourself rent; or does the Corporation own both?

What type of corporation are you?

How much do your benefits cost the company to offer, if you have them?

Many thanks for your time-
Hobbit

I am incorporated but have a service oriented business and, therefore, don't require commercial space.

Not knowing what you're planning to do, manufacturing, size of space needed, number of employees, etc. it's hard to say.  Do you have the capital / credit to buy and build?  Is it important on the balance sheet to incure that much debt?  Is the prospective property under or over valued?

Quoted: I'll be starting a small business within the next 6 months. I'll be building a builiding, buying land, and purchasing equipment to do so. Do YOU own the land/business, charging yourself rent; or does the Corporation own both? What type of corporation are you? How much do your benefits cost the company to offer, if you have them? Many thanks for your time- Hobbit

We are a limited liability company.

The LLC owns all fixed assets and receives the tax benefit of depreciation, which is passed through in the form of a K-1 earnings statement to the partners at the end of the year.

LLCs have no retained earnings.

Benefits vary. Average is $2400 a year for a very mediochre health insurance package for 40 employees. We pay up to 16% of base salary in the form of profit sharing at the end of the year into a Simplified Employee Pension. Normal unemployment FICA applies.

We run an incorporated business in TX.

The bossman owns the land and buildings, which the business rents/maintains/and pays all taxes.

Benefits are running something like $700 a month for health insurance, whatever gets put away into the profit sharing at the end of year, and bi yearly bonuses (avg of about $1000 an employee).  2 Week paid vacation.  Paid Christmas Vacation. <---Dependant on salary of employees.

Hardest part in manufacturing is dealing with the OSHA audites.  Pain in the ass.  Expect them every 2 years if you manufactur, expect a fire inspection every 4 - 6 months, and the occasional problems with city codes.

My c corp owns just about everything.

I have a pawn shop under an S-Corp. Talk to a GOOD CPA and/or a GOOD business lawyer!!!

what kind of business??

I'm a veterinarian.
It looks like I'll be establishing myself as an S-corp.
My debate is whether to own the land and building and have my corporation pay rent to me [thereby avoiding some taxation because the income is then regarded as rental income, as opposed to regular income], or letting the business own the building.

One benefit that I can see is that if the corporation is sued, it limits the assets that the corporation holds if the building/land belong to me personally.

Can anyone tell me how you are running depreciation of equipment/building?

There will probbly be a two-phase buildout. Phase one will employ 6-8 people, and phase 2 will employ an additional 6 or so people.

Many thanks for the replies. If you've got words of wisdom or an experiences you think I might benefit from, I'm all ears.

-Hobbit

Quoted: I'll be starting a small business within the next 6 months. I'll be building a builiding, buying land, and purchasing equipment to do so. Do YOU own the land/business, charging yourself rent; or does the Corporation own both? What type of corporation are you? How much do your benefits cost the company to offer, if you have them? Many thanks for your time- Hobbit

The best way to fuck yourself over is to be careless about things like sales tax when "you" rent to "the business."  A competent accountant is worth whatever he charges.