696888

Are principal payments on business property is tax deductible

I have a commercial land I used for my business. are principal payments on business property is tax deductible

posted

Connect with an expert

1 Reply

Are principal payments on business property is tax deductible

No, just as with a home, mortgage principal is not deductible. Interest is deductible.You take a portion of the cost improvements to the land through depreciation.

http://www.nolo.com/legal-encyclopedia/deducting-business-related-interest-loan-payments.html

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post