I am selling a real estate property that is owned by my corporation. Mr name is on the property, but I used the corporation’s cash as the down payment, and have a bare trust agreement between the corporation and I stating that I personally will not benefit financially.
I am the only shareholder in the company, but can easily add my wife.
What is the best approach to extract the cash from the corp (beyond paying back shareholder debt)?
There will be about 250K pre corp tax. At the point of sale, the corp will have no other active business/ongoings.