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<blockquote data-quote="backhoeboogie" data-source="post: 450831" data-attributes="member: 3162"><p>Pay your debt and you'll get out of debt. :lol: :lol: </p><p></p><p>If you go in debt for a $100K piece of equipment that grosses $200K a year, why in the heck do you want to get out of debt? You want to lose $200K a year so that you are out of debt for $100K? That is bad business. Terribly bad. At the same time, if that $100K debt doesn't make you money, you should never have bit. </p><p></p><p>For personal items you can do a business case analysis the same way. Spend $1,000 a month on rent and you never accumulate equity. Spend $1,200 a month on house payments and you are money ahead gaining equity, tax interests deductions etc. etc. Better to be in debt than rent. </p><p></p><p>Don't take my word for it. Talk to a CPA. That's what I'd do. If not I would make more mistakes.</p></blockquote><p></p>
[QUOTE="backhoeboogie, post: 450831, member: 3162"] Pay your debt and you'll get out of debt. :lol: :lol: If you go in debt for a $100K piece of equipment that grosses $200K a year, why in the heck do you want to get out of debt? You want to lose $200K a year so that you are out of debt for $100K? That is bad business. Terribly bad. At the same time, if that $100K debt doesn't make you money, you should never have bit. For personal items you can do a business case analysis the same way. Spend $1,000 a month on rent and you never accumulate equity. Spend $1,200 a month on house payments and you are money ahead gaining equity, tax interests deductions etc. etc. Better to be in debt than rent. Don't take my word for it. Talk to a CPA. That's what I'd do. If not I would make more mistakes. [/QUOTE]
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