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Updated over 7 years ago,

User Stats

1,254
Posts
342
Votes
Rich Hupper
  • Broker / Investor
  • Tewksbury, MA
342
Votes |
1,254
Posts

Tax deductions and Loan Qualification

Rich Hupper
  • Broker / Investor
  • Tewksbury, MA
Posted

Hi Everyone

I am trying to maximize self employed tax deductions while only deducting expenses that can be later be rolled back into my income by lenders. I know it is a balancing act for self employed people. 

So far I have a list of:

Depreciation of rental property

Depreciation of business vehicle

Depreciation of business computer

Business home office space

Can anyone help me add to this list? I do not think my CPA is doing my taxes correctly. 

Also when I file taxes for my LLC can I use the items on this list as well? I want to create credit profile and tax history for my LLC where one day it will not need my personal financials as a guarantor.

Thank you

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