All Forum Posts by: Andre Olsen

@Charles Carillo

Thanks for the input. My understanding is what you stated. My partner believes we can put cash payments for the initial down payment unaware it will make our approval for mortgages much easier. Our lender currently will not accept undeclared cash as income as you mentioned.

We work on boats and make a huge amount in cash tips. Previously it was not worth declaring in our taxes but now we are wanting to invest it may be wise too.

Thank you Charles!

Hi all, 

Hopefully posting in the correct place (newbie). 
my partner and I are looking at investing. We make 120k gross income and an additional 50k in cash tips. Couple questions: 

1) Can we use cash for down payments? 
2) if yes, do we have to pay taxes on the cash we use? 

Basically we want to avoid paying taxes on the cash tips we receive but would love to use it as a down payment. 

Thanks for you inputs, 

Andre