IF I BUY A SMALL STORAGE BLDG FOR MY BUSINESS, DO I TAKE THE EXPENSE USING DEPRECIATION?

Other answer:

Rivera:
depreciation is the business expense
Andi:
It would be more likely to be considered an investment !!!

It would however be considered an asset
– whose value to the company should be periodically 'valued'
and when you eventually sold it – that would represent a profit.

You only need to depreciate assets that immediately lose value over time or by virtue of being sold.
eg Furniture, cars, PC's etc.

John D:
Real estate doesn't depreciate. Only fixed assets depreciate.
L. E. Gant:
Depreciation is against the capital asset value.

Expenses are expenses, and are treated separately.

Henry:
s
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