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if u cant draw direct, then some would argue that deductability is questionable dependon on how you get the money out and to the seller. An attached offset acct that is clear of non borrowed funds and has no other transactions in and out should be fine. Some would argue to use a LOC or get...

If the 132 was never contaminated with having been paid down or redrawn from for purposes other than the home of renvoations to the home, the 132 would be deductible - pls seek specific tax advice. As part if your borrowing strategy, if i was your credit adviser, I would splut the...

Even though the circumstances of your deductability are not ideal, all is not lost. A good debt recycling strategy will help you to convert your new non deductible debt to deductible much more quickly. Properly worked, you would be surprised at the long term effect of your tax savings, in...

40 k in one go, or did you use the loan as an " all in one facility" with wages going in and expenses coming out ? ta rolf