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Updated over 7 years ago,
Tax deductions and Loan Qualification
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