Hi David, Hope all is well with you. Love your newsletter...pearls of wisdom! Wondering whether you can advise regarding a dilemma I have. I'm looking at setting up a medical centre in a building that I buy. Likely too staff 4-5 of my own and rent out commercial space to dentist, specialists, allied medical etc (on a daily basis and long term leases too) I know your take on buying investment property, that it should not be in a company. I am incorporated and wondering whether to purchase this commercial property in my personal name or that of my company (.Inc) and what would if any be more beneficial to me. Your advise will be much appreciated. thanks, --------------------------------------------------- david ingram replies: In some cases, it might make sense to put the building in a corporation but in that case, I would still likely suggest a separate corporation. When the corporation owns the building and business, it makes it harder to sell either as a separate entity in the future. Back in the summer of 1972, Fortune Magazine did an analysis of 1,000 people who had become millionaires. 1% had made it in the stock market. 88% had made it in real estate holdings including owning the land their business operated on. 11% had made it by being self employed and keeping the land after the business had closed. Of course, I do not think professional corporations make any sense either because you lose control of the money. They may make some sense in later years when the professionals house and cottage and sailboat and motorhome are all paid for and their spouse has all their stuff paid for as well for the inevitable divorce but incorporating at the start of a practice makes no sense at all. Goto www.centa.com and read the November 2001 newsletter in the top left hand box. It will explain how being a proprietorship gives you more control over the money and makes it possible for a self-employed proprietor can make their boat loan, their house loan, their motorhome loan, their RRSP loan or any other personal loan interest tax deductible while you lose that ability with a corporation. ==================== David Ingram's US / Canada Services US / Canada / Mexico tax, Immigration and working Visa Specialists US / Canada Real Estate Specialists My Home office is at: 4466 Prospect Road North Vancouver, BC, CANADA, V7N 3L7 Cell (604) 657-8451 - (604) 980-0321 Fax (604) 980-0325 Calls welcomed from 10 AM to 10 PM 7 days a week Vancouver (LA) time - (please do not fax or phone outside of those hours as this is a home office) email to taxman at centa.com www.centa.com www.david-ingram.com Disclaimer: This question has been answered without detailed information or consultation and is to be regarded only as general comment. 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