r/business 19d ago

Can a company buy a property to write off taxes?

I've seen everywhere a lot of houses and properties worth millions of dollars yet almost no one has a salary bug enough to afford them, do rich people use their business and tax write offs to but these expensive mansions and things?

1 Upvotes

2

u/RelayFX 19d ago

Only if the property is a justifiable business expense like an office building for example. A private residence for the owner doesn’t count.

2

u/ZetrisilSolutions 19d ago

Rent it out a few weeks here or there and it becomes a rental company.