south central WI | Someday - 2/22/2024 18:31
If you pay extra on debt the "extra"isn't deductible that year because of depreciation schedule is already set isn't it?
IMO too many people focus too much on what their tax bill is going to be. Be forever in debt, pay tons of interest, but save a few bucks on taxes. They have to be paid at some point, or you end up broke and assetless at the end.
As far as paying ahead, you're probably right. He will have to pay taxes on what he pays ahead, but at the end he still gets the depreciation off his taxes. That might come in a tight year where he has no money, but even though he didn't have debt to pay off, he still has depreciation to use up. |
So Met With The Banker Again
