Self Employed & Wanting to Buy? Read this before filing for 2018!

For self-employed borrowers, tax time usually means writing off as much income as possible through deductions & expenses in order to minimize any payout to the IRS. What you may not realize is that by writing off all your income, you’re taking away from the actual qualifying income that a bank will need to see when they review tax returns to qualify for a mortgage. If you have a thought about buying a home in the next 12 – 24 months, it’s very important to take the appropriate steps to make sure your net income as a self-employed contractor is showing as much income as possible, even if you have to pay more in taxes to the IRS. It’s definitely a catch-22 to show more income and pay more i

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