For a while I was driving my VWs for about three years and trading them for a new one. I got a good deal on the trade, and the purchase price was below invoice. The problem now is that it's almost impossible to find a standard transmission, so I'll drive my CC until it falls apart.
That is another reason to keep a car. They are not selling anymore cheap stick shifts. I am keeping mine until it is completely worthless. I will keep repairing it even after the mechanic says that it would be cheaper to get a new one.
So money used to buy useful things should be taxed, but money wasted on interest should be tax free?
I should have seen that one coming. I have seen a lot of tradespeople who can not fit some things in a van, but cannot allow many things to get wet in a pickup truck. If only there was some sort of swappable back side to a van/truck... But every time I have seen that tried, it has failed.
Income is taxed. Don't you remember back when credit card interest was deductible? It's not exactly a new concept.
LOL. In my younger days I did indeed find creative ways to ship large counters or bulky cabinets in my standard van. Now I've got one of those large Promaster vans with the high roof. My business has morphed into one of heavy on service related work and almost no manufacturing. There is so much more money in the former. When I do kitchen renovations the semi custom cabinets are delivered to the job.
I am one to talk. I keep meaning to keep a record of all my business travel, but just never bother. It would be a bit less on my taxes, but really not enough for me to care. My accountant shouts at me to do it every year.
I use credit cards for everything. Paperwork reduction, as it were.
You really need to use credit cards. Trying to do it all with cash is impossible.
Obviously, business debt is a business expense, so is tax deductible. I do not know that consumer debt(other than home mortgages) were ever tax deductible, at least not during my adult life, which started after that.
It was.
Or checks. Debit cards make it easy, but I only use them to make deposits at the ATM. I earn several hundred dollars/year on my credit cards.
You are correct. I just looked it up, and even if I did not, you are an honest person so usually right. There are others here I could not say the same about.
Credit cards are great, if you pay your statement balance every month. There are laws in place that force retailers to charge the same rate to credit cards and cash. Retailers have to pay the credit cards a share of the sale, and then the credit cards pay us much of that. They also provide guarantees against being defrauded. And no one is allowed to charge us extra for all this.