LET YOUR CORPORATION BUY A VACATION HOME
          
          
               Instead of buying a vacation home, you lend the
          purchase price to your corporation.  If this is a real
          debt and the corporation does not have excessive debt,
          then the corporation can deduct the interest payments
          it makes to you.  You will get pre-tax dollars from the
          corporation, which means a bigger payout is available
          to you at a lower tax burden. 
               Then the corporation can use the cash to buy the
          vacation home, treating it as an investment.  The
          corporation will not be subject to the same passive
          loss rules as an individual and can deduct all rental
          losses against its other income.  This means that more
          after-tax income is available to the corporation -- and
          to you. 
               Or the corporation can treat the property as an
          entertainment facility rather than a rental property. 
          The corporation can deduct all expenses related to the
          facility if it is made available to all or most
          employees for their use. 
               At retirement, you can trade your current house to
          the corporation for the vacation/retirement home.  In
          essence, you are making a tax-deferred sale of one
          principal residence for another principal residence.