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re: To deduct or not to deduct, that is the question.
Posted on 12/15/15 at 11:23 am to TheOcean
Posted on 12/15/15 at 11:23 am to TheOcean
Net income is gross income less expenses.
He HAS expenses.
He is withholding information from a bank that is needed to make an informed decision. There is a difference in reporting, to a bank, gross income of $100,000 and net income of $20,000 when you have $80,000 of expenses.
He HAS expenses.
He is withholding information from a bank that is needed to make an informed decision. There is a difference in reporting, to a bank, gross income of $100,000 and net income of $20,000 when you have $80,000 of expenses.
2
Posted on 12/15/15 at 11:25 am to krehn11
Mortgage fraud is a crime in which the intent is to materially misrepresent or omit information on a mortgage loan application to obtain a loan or to obtain a larger loan than would have not been obtained had the lender or borrower known the truth.
Posted on 12/15/15 at 11:30 am to krehn11
Where did the OP say he wasn't going to claim expenses?
All he is saying is that he may not choose to deduct certain expenses. But I can guarantee he will be claiming those expenses
All he is saying is that he may not choose to deduct certain expenses. But I can guarantee he will be claiming those expenses
This post was edited on 12/15/15 at 11:31 am
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