I really hope my question is not too simple for posting here. But tax consequences can be very complicated, so I am asking for advice.. A few months ago I bought a commercial office building, and I (my business) occupy part of it. I have a loan which has no restrictions on prepayment. I am in a financial position now where I am able make additional payments on the principal. What are the questions/ ramifications I should consider before pre- paying this loan? I admit this appears to be a very simple question. In part I am wondering about consequences, if any, on tax deductions, and depreciation... I thank you all in advance. If I have omitted important facts, I will do my best to answer any questions.
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