Interesting answer on this. Basically the answer says it’s still a grey area but one should protect themselves by buying the property in a mixed-used property zone so there will not be any issues in the future (should cities start having formal practices on the sharing economy).
so for example a “live-work” loft?
Are you referring to setting up a LLC? Or an Inc.? I am setting up an LLC to provide an “additional layer”.
We have an LLC but both Lawyer and Accountant said it was overkill and an s-corp would have be sufficient.
I’m not a tax accountant but I believe S corp has more documentation or forms or regulations than an LLC. I will check w a local tax guru.