A cousin carry a $200k heloc at 10%; He has some family matters (unsure of the details) but ask if he should pay off the $200k heloc or keep $200k to buy CD at 5%
- heloc interest is 100% tax write off since it's business expense.
hence $20k interest/year tax write off and $10k cd interest with 15% tax bracket
vs.
0% interested paid and 0% interest earned but lost control of the money.
Enuff
am I missing anything? any thought please
- heloc interest is 100% tax write off since it's business expense.
hence $20k interest/year tax write off and $10k cd interest with 15% tax bracket
vs.
0% interested paid and 0% interest earned but lost control of the money.
Enuff
am I missing anything? any thought please