Paid off truck and trailer today!

He didn't go belly up just because he had equipment financed.
I bought a new KW and new to me house in 03 and a new Ravens trailer in 05 and some other payments then shattered my left wrist and broke my left leg in 06 with payments on everything. Not only did I not go belly up, but was never late on a single payment. It did do 2 things though, 1 it made me work HARD at physical therapy cause I didn't have any extra time to heal, and 2nd it taught me never to go in debt again at least not that deep. 8 and a half weeks I was back to work, not full tilt and not without some discomfort but making money.

 

I bought a new Ravens in 05 also, last of the Ravens badge. Just had to have it before the brand went away. Traded in my 93 Ravens.

 

I just traded off my 05 Ravens Magnum in Jan. Not only last of the badge but last of the $30,000 new aluminum wagon. LOL It was very good trailer. That where MAC got their idea.

 

so 100 % profit from here on in huh?

 

I've got 5 trucks, newest one is a 1995, don't owe a dime on any truck or trailer.

Newest trailer is a 2017 Landoll. Bought it new and paid $90,000 cash for it.

Have enough cash in the bank to buy a new truck if I wanted to. The old trucks are running fine though, I see no reason to buy a new one.

I didn't get this way overnight. I used to borrow money for stuff, but about 10 years ago I got into a bind and almost lost it all, because I owed my soul to the banker. After coming out the other side, I vowed to pay everything off as fast as I could and never borrow another dime, if I could help it. After I got debt free, the money started rolling in.

I'm not going to say I'd never borrow anymore money, because something catastrophic could happen, but I have no desire to ever borrow again. You don't know what freedom is, until you roll down the road without having to chase a truck payment.

 

Very hard to figure out unless you do your own taxes. I’m always in the 15% bracket striving to be in the 25% !!! Lol. Mo money Mo money I need more money!!!!!

 

All I can say is, AMEN. Living the dream! Same boat, no debt... It is a good feeling.

 

A lot of folks confuse tax deductions with tax credits. Tax credit = dollar for dollar discount on tax liability or % of dollar etc

 

Check google for tax credits and see how many you qualify for lol