• Kastorlain@lemmy.world
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    1 month ago

    Paid it off the third year after we got some consistent business in the industry(food software and logistics). Paid about $400 in interest over that time.

    Yep, it was so they could give me far more than the limit on gifts per year and not get taxed.

    I sold my half of the business to my cofounder about 2 years ago. Been retired and just raising my kids while my wife is getting back into her field(she was stay at home while I built my business).