Ep. 223 - How Policy Loan Interest Works
Farming Without the Bank Podcast · Mary Jo Irmen
November 10, 202321m 35s
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Show Notes
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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