TrustMeIamRight
Well-Known Member
When filing taxes as a SE person, make sure you state just enough income each year to give yourself at least a 50% debt to income ratio. You can't say you make 18k a year anymore being self employed and buy anything, Stated loans, no income loans etc....they don't exist anymore. I talk to several SE people every week who could lower their mortgage and save a bunch of money, but they don't qualify because their tax returns say their debt ratios are over 100% because they got greedy when lying.
Very good advice for anyone who files as self-employed.