Welcome everybody to this week's episode of the Main Street Business Podcast

with yours truly Mark Kohler and the amazing Matt Sorenson.

Yes, now Mark and I are together in Phoenix, but separate.

Separate but together.

Yeah.

Yeah. There, we're, there's a microphone issue if we're in the same room together. Also, we just kind of get out of control.

They need to put separate boxes.

Yeah, it's safer this way for everybody.

But we are building a studio here in Phoenix. So pretty soon you'll

see some studio appearances down here. But today's topic is awesome. It's one that Mark and I have

done ourselves. A lot of our clients have done over the years. We want to talk about buying a building

for your business.

Love it. And I would say that's the, yeah, so should I rent my own building to my own

business? And some you may see the wisdom in that right out of the gate, but there are things

to be aware of. What is how does the

IRS treat it? What if I, what do I do with the depreciation and the writeoffs and the losses?

Is there a gain? We had an interesting situation where a client this week was told by their

accountant, you can't do that. You can't rent your own building. We're like, um, squeeze me. What, but planning?

You're on, I missed that part. Lots of smart people are doing this. Um, yeah. So, um, but there's

lots of great reasons to do it. We're going to walk you through those today and, um, just dig into it.

Because there's great financial reasons for

some stability, long-term wealth building, of course, and of course, some tax perks. Yeah, and I'm going to

...