Does he have to pay rent or lease on this equipment to the corporation and what are the tax ramifications. At present he pays nothing to the corp. How do we determine what would be owed to corp or IRS. He is also living in a corporation home he pays no rent for this also he built a shop and grain bins on corporate property he did have permission to build the shop but the land was and still in the corp nothing in written or deeded . I recently inherited these shares and am wondering of all the other things he is doing with corporate assets. really need to get this right. It's a mess with only verbal agreements. Does the corporation now own the shop since no land was deeded.