Tax minimization: Business vs Real Estate ownership

[Ashan D]

Hi,

I've heard that real estate is a decent tax shelter because it allows for a lot a tax write-offs: mortgage interest deduction, building depreciation, deferring capital gains through 1031 exchanges etc.

I'm less knowledgeable about small business taxes. If anyone owns a small business, would you consider your business to have tax-shielding benefits as well? How do the tax benefits of the business compare to your RE assets?

Thanks