Land Trusts or Personal Holding Corporations and Year

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My question is: Canadian-specific
QUESTION: I like all your answers to the questions. I really hope you can get a moment to answer my questions. I am planning to do real estate investing. I heard some concepts on land trust,corporation holding properties.  What are the major advantages doing land trust and corporation. 
Right now I have four rental properties with positive cash flow (not very much)and all properties were bought under my personal name. I am planning to search some more properties or flip some properties in the future.  Thank you for taking me to read my questions.
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david ingram replies:
I do not know of any advantage of a land trust, a living will or a corporation for a person or family other than that the lawyers and accountants make more money.
In a non-active "rental" holding corporation, the income tax is higher unless there are five full-time employees who are not related to the shareholders.
These types of holdings (in my opinion) are only suitable when there are several people involved and they are trying to separate their legal responsibilities amongst themselves. I do not find them suitable for a husband and wife or a father and child, etc.
I am sure that I will get lots of flack on this so bring it on.
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I have the same opinion about year ends which are other than Dec 31st.  
Yes, there may be a tax deferral saving in that first year.  But every piece of accounting and every P & L and every balance sheet becomes more difficult for the rest of the life of the corporation and adds thousands of dollars of accounting fees for ever.
Because of cross border situations, NO ONE who operates in the US and CANADA at the same time should ever have a year end other than Dec 31st.   
David Ingram's US/Canada Services
US / Canada / Mexico tax and working Visa Specialists
US / Canada Real Estate Specialists
4466 Prospect Road
North Vancouver,  BC, CANADA, V7N 3L7
Res (604) 980-3578 Cell (604) 657-8451
(604) 980-0321 
New email to [email protected]
www.centa.com www.david-ingram.com
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