Time running out on stimulus deal for commercial condos
Silicon Valley / San Jose Business Journal - by Katherine Conrad
Commercial condominiums: The concept has proved popular and affordable, especially with financial help from the Small Business Administration.
The option allows for real estate ownership versus leasing, which enables a business owner to control occupancy costs. The idea has broad appeal, from accountants and real estate agents to mechanics, lawyers and caterers.
This year, the investment was sweetened by the 2008 Economic Stimulus Act.
The tax package offered a twofold incentive to small-business owners purchasing these units: It lets business owners depreciate 50 percent of construction-related costs in the first year, up from 2.5 percent; it almost doubles the amount -- up to $250,000 -- that owners can deduct for certain property assets purchased and put into use in 2008.
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