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$250M Founder Reveals How The Rich Avoid Taxes (Legally)
My First Million
Maximizing bysiness tax benefits by owning your own office real estate
Owning your office building or any physical building related to your business allows you to use depreciation to offset a significant portion of the purchase price as a business loss. This strategy is also applicable when buying vehicles attached to your business, as you can depreciate more of the purchase price if the vehicle weighs over 6,000 pounds. The tax cuts and jobs act during Trump's administration further increased benefits for business owners, allowing them to deduct 20% of their income and real estate developers to utilize bonus depreciation, depreciating 20 to 30% of the purchase price upfront. These incentives continually evolve to favor business owners and real estate developers.
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