Quote:
Originally Posted by scho63
That's the dumbest advice Ive ever heard.
You should always try to be debt free.
The exception is if you can borrow money at 3% and get a guaranteed return great than the rate you borrowed at, go for it.
To carry debt just for tax purposes is assinine.
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Yeah. I’m not sure exactly what he’s getting at from the tax side of things. Sure interest is deductible, but principle payments are exclusively post tax. You get depreciation, so if you keep it for the term of the depreciation and term of the note, it’ll net 0 on the tax side.