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Except the lenders do get something. A massive tax write off.
by powerslacker 5y ago
Except the lenders do get something. A massive tax write off.
- GauntletWizard 5y ago"The Producers" aside, not paying taxes on money you gave away but didn't get back is not exactly a compelling business case.
- xracy 5y agoAlright, you give me 70k. I can give you back 70k, or you can take the tax write-off for the loss... which one would you rather have? And if the answer is that you'd rather have the tax write-off I would love to take out a personal loan from you. And I don't imagine you'll be in the lending business for very long.