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Updated about 5 years ago on . Most recent reply

Tyler Matthews's profile image
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Tyler Matthews
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  • from Acton, ME
  • Member since Nov 30, 2019
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Tyler Matthews's profile image
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Tyler Matthews
  • Investor
  • from Acton, ME
  • Member since Nov 30, 2019
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Tyler Matthews
  • Investor
  • Acton, ME
6
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6
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Tax, SDIRAs & Cost Segregation

Cash Out Refinance -Tax Free

Tyler Matthews
  • Investor
  • Acton, ME
Posted

I have been listening to several podcasts where people talk about cash out refinancing their property and the money is tax free. How is the money tax free? I'm located in Maine

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    Natalie Kolodij
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    ModeratorReplied

    You're just taking on more debt. 

    So while you got cash, to the IRS you still owe that money so it's not really income- it's a liability to you. 

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