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South Central IL | One time a buddy had land debt, one tractor payment and combine payment. Enough equity in the farm that this debt was not a problem. He told me he paid cash for his motorcycle, truck, camper and said borrowing money for toys was foolish.
What is the difference? debt is debt. He could have paid off the combine and tractor instead bought toys. Same as borrowing money for the toys. I understand the interest is deductable, some business debt is necessary, etc, etc, etc.
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cash ?
