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Started By
Message
Closing on a home and the underwriter wants a Profit & Loss statement for 2013
Posted on 11/8/13 at 9:59 am
Posted on 11/8/13 at 9:59 am
My CPA doesn't due my taxes until after the year is over.
So I talked to him and he wants to charge me $700 to do 10 months of taxes.
I can't do that right now with the down payment and some changes I want to do to the house.
So my question is there somewhere online I can do this myself? Just print out a P&L statement
Thanks
So I talked to him and he wants to charge me $700 to do 10 months of taxes.
I can't do that right now with the down payment and some changes I want to do to the house.
So my question is there somewhere online I can do this myself? Just print out a P&L statement
Thanks
3
Posted on 11/8/13 at 10:32 am to SmackDaniels
Posted on 11/8/13 at 10:39 am to anc
WOW!! Thank you very much. 
Posted on 11/8/13 at 10:46 am to SmackDaniels
No problem. If you want some more advice, a CPA that would charge you $700 for a P&L statement needs to be a former CPA this time next year.
This post was edited on 11/8/13 at 10:47 am
Posted on 11/8/13 at 10:53 am to anc
quote:
a CPA that would charge you $700 for a P&L statement needs to be a former CPA this time next year.
This!
Posted on 11/8/13 at 11:06 am to SmackDaniels
the lender should take a profit and loss from you. dont overthink the document its just a paragraph that needs to state how much you have made so far this year and what your loss's may or maynot be. it pretty common to have one of those when closing a home loan and your self employed.
Posted on 11/8/13 at 12:06 pm to Broke
How many transactions do you have on a monthly basis?
Posted on 11/8/13 at 1:30 pm to anc
You have no idea how much activity the business has. $700 could be a real good deal or really expensive. No way of knowing from the facts provided.
Posted on 11/8/13 at 6:39 pm to tigeralum06
I would look into what they really want with the statement. Like previously stated, I think you will over think it.
Posted on 11/8/13 at 9:05 pm to SmackDaniels
quote:
My CPA doesn't due my taxes
That's right. He doesn't due them. He will do them though.
quote:
I can't do that right now with the down payment and some changes I want to do to the house.
Whether he's overcharging or not, if you can't swing a mere 700 bucks you should rethink this investment.
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