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Updated over 3 years ago on . Most recent reply

User Stats

177
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Delbert Standifer
  • Rental Property Investor
  • Carson, CA
74
Votes |
177
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Paying all cash what are the tax benefits

Delbert Standifer
  • Rental Property Investor
  • Carson, CA
Posted

I’m trying to understand what are the tax benefits for having a property paid off.

  • Delbert Standifer
  • Most Popular Reply

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    Steve Vaughan#1 Personal Finance Contributor
    • Rental Property Investor
    • East Wenatchee, WA
    16,108
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    Steve Vaughan#1 Personal Finance Contributor
    • Rental Property Investor
    • East Wenatchee, WA
    Replied

    What a bunch of horse sh*t.  So you can't take depreciation if you don't have debt?  LOL

    The tax advantages are you will no longer get a -70% return.  Give the bank $10k in interest and the IRS gives you $3k back.  That's your 'tax benefit'.

    The real savings happen when you buy without a loan.  Saves me $5k in borrowing costs, bs appraisal and bs lenders insurance every time. 

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