OnePercenter
Gold Member
- Apr 10, 2013
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If a business operates on a thin profit margin it's because they made it that way from funneling off profit. Net profit, corporate paychecks, corporate credit cards, paying house payments, etc.
It's called deferred income. You can't spend it but you can invest it, and more importantly you can borrow on it. Long term-interest only....think about it.
Yes. It's actually an everyday thing, but don't tell anyone.
WRONG! Smart-Rich-Guy.
You mean like absolutely any employee can put money in their 401K and then borrow against their 401K.... think about it?
So borrowing on a 401K and deferring income are the same?
And I highly doubt anyone would use company money, to buy a property, because that would make the property a possible liability to the company.
In other words, if I own an LLC, the entire purpose of doing that is to limit my liability. Hence the name "limited liability corporation".
If I pay my mortgage with money still in the LLC, that would make the property liable. If the company get's sued, they could very easily make a case that the property is owned by the company, and I could lose my home.... defeating the entire purpose of having the LLC to begin with.
Are there some people who do this? Perhaps. But I would wage few and far between. Most likely people who don't realize just how much danger they are putting their personal residence at. You claim it happens often, but I doubt it.
You've never heard of a home owned by a business? I have 3.