Are there tax advantages of business or office condo ownership?
Condo ownership has the same tax advantages of any commercial real estate ownership, and more. Depreciation, interest, and operating expenses are allowable income tax deductions. Also, typically condos are assessed as improvements and not land, which permits greater depreciation for tax purposes than other real estate. The tax advantages of condo ownership make the after-tax cost of owning a condo less expensive than renting. An experienced CPA can explain this to you.
