Tobie Oshea: No.First you pay the income tax, THEN you decide what to do with it. In fact, if you pay down the mortgage, your tax bill will go up. (By less than what you pay to the bank in interest, though.)
Kenneth Blacker: if your mortgage is your residence and no part of it used for the business, of course notyour business is your business and your personal is your personalyou can certainly have rentals that might change your tax status
Booker Moros: Mortgage interest on your home is deductible regardless of where the money comes from.Small business income is taxable regardless of what you do with the money.Short of giving the money to charity or losing it in a failed investment, there is no real way to shelter the money other than putting as much as you can in to a retirement account....Show more
King Bringle: No.In fact, if you're a corporation, it's generally considered malpractice for any professional to advise you to transfer real estate into t! he corporation.Don't take tax advice from whomever came up with this unworkable scheme....Show more
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