In this mini episode of That Backyard Property Podcast, we explore the concepts of good debt and bad debt. Good debt is typically tax-deductible, such as investment loans, while bad debt includes non-tax-deductible debts like home loans, credit cards, and car loans. We discuss strategies for increasing your tax-deductible debt while reducing your non-tax-deductible debt, and highlight the importance of consulting with your accountant for personalized tax advice.
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Chapters:
00:00 Introduction to Good Debt vs. Bad Debt
00:22 Defining Good Debt and Bad Debt
01:09 Strategies for Managing Debt
01:22 Personal Perspective on Home Loans
01:55 Debt Recycling Explained
02:50 Final Thoughts and Community Engagement
03:32 Closing Remarks and Upcoming Episodes
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Produced by Podwave Studios
#Gooddebt #baddebt #Realestate #MichaelKilliner #PodwaveStudios
