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Tag Archives: commercial tenants

I Bought A Building This Week

being a commercial landlord

It’s been a fun week. I did some laundry, got a haircut, and, oh yeah, bought a commercial building. Before you think I’ve lost my mind, it really wasn’t that big of a deal. I’ve owned half of the commercial building that holds my optometry practice for almost ten years, and this was just the other half of the purchase. Commercial real estate is a bit different that residential. It has pluses and minuses, but it makes sense if you are your own tenant. Keeping the Tax Man Away One thing I didn’t really understand or ever think about before owning a brick and mortar business was that you can own your own building and still pay yourself rent. It is a good way to take income out of the business without having it taxed as part of your salary. In reality, smart business owners would like their net income to be zero or even show a loss. That doesn’t mean you aren’t making money. It just means that you are running as many expenses as you can through the business so that it helps with income taxes. For example, I use my cell phone to take emergency after hours ...

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