Lenders usually average most recent 2 years income, so you really only need to pay high taxes for 1 year. Get the loan and close on the house, then just do a revision and get your money back. You have 3 years to revise. This is about as simple as you can get and still be able to save on taxes in the end.
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Help Support Hardline Crawlers :
Self Employed Mortages
- Thread starter KPatterson
- Start date
doubleud
Well-Known Member
Apparently this isnt a popular opinion but what is it that makes it okay to defraud the government? Then take it a step further and get on an internet forum and brag about ways you did it. This is whats wrong with America these days, nobody gives a **** about laws, rules, or their fellow man. There is no difference between a business owner disagreeing with tax laws and committing fraud and an ordinary street criminal who thinks "the man" is holding him back so he doesnt bother following the law. If you think falsifying your taxes is not wrong then youre just lying to yourself. I agree the .gov wastes alot of money, then spends much of the rest on things I disagree with. People picking and choosing which laws to obey and which laws to intentionally disobey is where many of the problems we deal with as a society today started. Just pay your taxes like the rest of us, and feel good that at least some of that money will go to support the military that keeps you and me safe at night.
And yes I know this has changed nobody's mind, just wanted to put it out there.
And yes I know this has changed nobody's mind, just wanted to put it out there.
money_pit_yj
Well-Known Member
You're going to pay it in one way shape or form. OP saved money for years not reporting all his income and now is being penalized by paying higher interest rate. I have seen farmers play all kinds of games to keep from paying taxes and it NEVER pays off unless they get really shady and file bankruptcy. Render to Caesar what is Caesar.d_daffron said:
For what its worth, I just got 4.5% on a 30 year fixed.
onepieceatatime
I like turtles...
Re: Re: Self Employed Mortages
I know what side you would have been on in 1776
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I know what side you would have been on in 1776
.d_daffron said:
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redneckengineered
Trailer Park Panty Dropper
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d_daffron said:
What the **** are you talking about. Just because you can show a loss/minimal profit on your books for tax purposes and make money at the same time does not make it illegal. Trump got crushed for this in the leadup to the election. You use the laws on the books to minimize your tax liability. Nothing illegal about it. He still has to submit his taxes to the IRS, if he's doing illegal **** he'll get audited. End of story. You on the other hand can keep paying more into the system and pat yourself on the back from your ivory tower. Whatever helps you sleep at night.
mrdrinksalil
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Send me over your financials Kerry and I'll get you a killer mortgage. Especially after the IRS pays me the 30% bounty on all the back taxes you haven't paid from the whistle blower law.
...use your head bro
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...use your head bro
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mrdrinksalil
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redneckengineered said:
Yeah but he admitted his reported taxable income won't match his actual income. That's tax evasion. Deductions/credits/expenses etc are another thing
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doubleud
Well-Known Member
Like I said, you can call it whatever you want to make yourself feel better but at the end of the day if you earn money and hide it from the Gov then you have committed FRAUD. If someone was talking about deductions or other legal means of reducing tax burden then they would be showing their real income on their tax documents, therefore they could take those tax documents to the bank and get a loan and there would be no need for this thread. The point is thats not what were talking about here were talking about "showing no/minimal profits for obvious reasons". Are we "showing" minimal profits or are we making minimal profits? It sounds alot to me like hiding true earnings by false reporting.
And yes I will continue to do the right thing even though I know that other people get away with breaking the law, no Ivory Tower necessary.
Are you implying that intentionaly disobeying the laws set in place by the US Constitution makes you more like the founding fathers of this country than me?onepieceatatime said:
And yes I will continue to do the right thing even though I know that other people get away with breaking the law, no Ivory Tower necessary.
blacksheep10
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Constitution? Taxation is legal? Muh roads?
onepieceatatime
I like turtles...
Re: Re: Self Employed Mortages
I also always love when people get mad at other people who "pick and choose" which laws they want to follow and which ones they don't. If you look at every law currently on the books I guarantee there's not a single citizen who isn't it or hasn't broken a law in their life so that argument is pretty hypocritical. If you just look at our drug laws you'll find chemicals on the Schedule 1 drug list that are produced by the human body so we're literally all breaking the law just being alive and that to me goes to show just how out of control our government has gotten. The Founders set out to create the smallest government in the world and it's now the biggest.
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Can you please tell me where in the Constitution that it says it's legal for the Federal government to force me to pay for someone else's education, healthcare, retirement or bail out their bad business practices? I've read it a few times and haven't seen where it gives them that power which makes it illegal for them to do and I think the Founders would be more pissed about that then they would be about citizens trying to find ways to not let the government steal so much of their money.d_daffron said:
I also always love when people get mad at other people who "pick and choose" which laws they want to follow and which ones they don't. If you look at every law currently on the books I guarantee there's not a single citizen who isn't it or hasn't broken a law in their life so that argument is pretty hypocritical. If you just look at our drug laws you'll find chemicals on the Schedule 1 drug list that are produced by the human body so we're literally all breaking the law just being alive and that to me goes to show just how out of control our government has gotten. The Founders set out to create the smallest government in the world and it's now the biggest.
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doubleud
Well-Known Member
First off I realize I'll never convince anyone that anarchy isnt the way to go, even though you can look at pretty much the entire country of Africa and see that I'm right, laws are definately better than Anarchy. At the point you allow citizens to only follow the laws they agree with then you have anarchy. As I said though I'm not trying to convince you of anything I'm just stating that following the law is the right thing to do.
Also next time you sit down to read the constitution skip on over to the 16th ammendment and see that the gov most certainly has the constitutional backing to tax its citizens. And I guess with your pick and choose mentality you choose to not acknowledge it since its actually an ammendment and not in the original constitution, but before you make that argument realize that puts you in with all the gun grabbers who refuse to acknowledge the 2nd ammendment since its an ammendment to the original.
Also next time you sit down to read the constitution skip on over to the 16th ammendment and see that the gov most certainly has the constitutional backing to tax its citizens. And I guess with your pick and choose mentality you choose to not acknowledge it since its actually an ammendment and not in the original constitution, but before you make that argument realize that puts you in with all the gun grabbers who refuse to acknowledge the 2nd ammendment since its an ammendment to the original.
doubleud
Well-Known Member
And because I'd like to learn something and clear up some misinformation can you name the schedule 1 drug thats produced by the human body?
Furthermore drug laws are based upon possession and possession clearly does not include having said chemical in your system. In laymans terms that means that weed in the pants youre wearing but arent yours is illegal. Thc in your bloodstream is not illegal.
My next question is does it make you a hypocrit to report your car stolen when you know that you stole a candy bar when you were 6? Just because you made a mistake committed a crime once does not make you a hypocrit for not wanting anarchy. In fact many people who commit crimse know their crime was wrong and dont want others to commit the same offense against them.
Furthermore drug laws are based upon possession and possession clearly does not include having said chemical in your system. In laymans terms that means that weed in the pants youre wearing but arent yours is illegal. Thc in your bloodstream is not illegal.
My next question is does it make you a hypocrit to report your car stolen when you know that you stole a candy bar when you were 6? Just because you made a mistake committed a crime once does not make you a hypocrit for not wanting anarchy. In fact many people who commit crimse know their crime was wrong and dont want others to commit the same offense against them.
doubleud
Well-Known Member
Surely youre basing this on some facts you know and not the scientists that "believe" DMT may possibly be produced by the human brain but havnt proven it.
onepieceatatime
I like turtles...
1. Africa isn't a country
2. The government can tax it's citizens but the Constitution limits the powers of the Federal government and doesn't give it the power to steal my money for any of the examples I gave you.
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2. The government can tax it's citizens but the Constitution limits the powers of the Federal government and doesn't give it the power to steal my money for any of the examples I gave you.
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doubleud
Well-Known Member
1. You nailed it Africa is an entire continent of Anarchy, not just one singular country. I was absolutely wrong on that one.
2. So you agree that you were wrong and the constitution does give the government the power to tax you whether or not you call it "steal my money" or not. Do you have any facts to support your theory that Education, medicare, social security etc are ilegal? If you do we most certainly need to take these new facts to the supreme court and get them to overturn their previous rulings on the matter. I hate those things as much or more than you, but I refuse to pick and choose what laws I obey based on my personal opinions.
The thing I hate most is misinformation, people all the time come around quoting internet articles and talk show hosts but seldom do people actually research the things they feel so strongly about. I challenge you to define what "Illegal" is and then explain to me how any of the Government programs you have mentioned are Illegal. You will find supreme court rulings upholding all of these things (except possibly obamacare which I agree is most likely illegal) and if being upheld by the supreme court does not make it legal I dont know what does. After all the supreme court is the entity the general public has agreed to allow to settle arguments just like this.
Anyway unless were about to make new constitutional law here I will try my best to stop clogging this guy's thread about the best ways to defraud the government.
2. So you agree that you were wrong and the constitution does give the government the power to tax you whether or not you call it "steal my money" or not. Do you have any facts to support your theory that Education, medicare, social security etc are ilegal? If you do we most certainly need to take these new facts to the supreme court and get them to overturn their previous rulings on the matter. I hate those things as much or more than you, but I refuse to pick and choose what laws I obey based on my personal opinions.
The thing I hate most is misinformation, people all the time come around quoting internet articles and talk show hosts but seldom do people actually research the things they feel so strongly about. I challenge you to define what "Illegal" is and then explain to me how any of the Government programs you have mentioned are Illegal. You will find supreme court rulings upholding all of these things (except possibly obamacare which I agree is most likely illegal) and if being upheld by the supreme court does not make it legal I dont know what does. After all the supreme court is the entity the general public has agreed to allow to settle arguments just like this.
Anyway unless were about to make new constitutional law here I will try my best to stop clogging this guy's thread about the best ways to defraud the government.
Damn, my reply got everyone fired up, and rather side tracked. Keep on keepin on, I like the debate.
Maybe I was too vague on my post. What I meant is for the OP to hold off on some legal deductions so he can show more income to qualify for the loan. Is there a law that states you have to claim every single possible deduction?
Maybe I was too vague on my post. What I meant is for the OP to hold off on some legal deductions so he can show more income to qualify for the loan. Is there a law that states you have to claim every single possible deduction?
