| reformedbanker - 1/27/2024 06:30
Only in my capacity as the banker of a customer being audited... the IRS would just need to see the interest payment on the LOC. The IRS doesn't care a bit if you leverage your business to fund lifestyle. It is business collateral and business debt.
Why is this upsetting you?
Edit: also, my advise above was pay down debt is a strong risk free return to OP's question
I’m not upset but what you are suggesting is fraud. The irs will absolutely discover it if under audit.
You are recommending dangerous conduct that could be very costly. |
Save on operating interest or invest in mutual funds?
