return2ozma@lemmy.world to News@lemmy.world · 2 years agoAverage American Debt: Household Debt Statistics, Average household debt hits $101,915www.businessinsider.comexternal-linkmessage-square20fedilinkarrow-up198arrow-down122
arrow-up176arrow-down1external-linkAverage American Debt: Household Debt Statistics, Average household debt hits $101,915www.businessinsider.comreturn2ozma@lemmy.world to News@lemmy.world · 2 years agomessage-square20fedilink
minus-squareTenderfootGungi@lemmy.worldlinkfedilinkarrow-up2·2 years agoMy old boss kept refinancing his house to keep all the debt tax free. Need a new Mercedes? Time to refinance.
minus-squareAstroturfed@lemmy.worldlinkfedilinkarrow-up2·2 years agoThat’s not a thing. Unless he was somehow laundering money through like cash mortgage payments and then refinancing cash out to spend.
minus-squareryathal@sh.itjust.workslinkfedilinkarrow-up2·2 years agoDebt never gets taxed, it’s not income. Debt forgiveness can be taxed as income though.
My old boss kept refinancing his house to keep all the debt tax free. Need a new Mercedes? Time to refinance.
That’s not a thing. Unless he was somehow laundering money through like cash mortgage payments and then refinancing cash out to spend.
Debt never gets taxed, it’s not income. Debt forgiveness can be taxed as income though.