Ep. 223 - How Policy Loan Interest Works
Farming Without the Bank Podcast
English - November 10, 2023 11:00 - 21 minutes - 19.2 MB - ★★★★★ - 219 ratingsInvesting Business Management flow advice bank cash farming finance investment money plan retirement Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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When taking a cash value policy loan from a whole life insurance policy, it works a bit differently than a bank. It's important to understand all the moving parts here so you can deduct the correct amount of interest on taxes if using that money for a business expense. It can be simple, amortized, and compounding; it just depends how you pay it back.
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