If they work independently, set their schedule, and use their resources, they might qualify as a 1099 contractor, but misclassification risks IRS penalties.Wages for W-2 employees and payments to 1099 contractors are both deductible business expenses, but compliance is key.This post does not create a CPA-Client relationship.

There are cases of local governments delaying payment due to budget constraints.

There are mortgage recast calculators online or you can reach out to your lender.P+I payment will go from 2155 to ~1800 given the numbers you provided.

With the HELOC and then converting it to a term loan you will probably be paying higher interest and/or shorter amortization period on conversion which will mean higher monthly payments.

If you're using financing, evaluate how a rate hike could affect your payments.

Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.- Maintain proper records, such as contracts, settlement statements, and promissory notes.- Additionally, you can track income and expenses consistently using software or spreadsheets.If you track everything, you could show a loss and use that to offset other earned income (such as a W2) which will net you a bigger refund.

The pay stubs can be hard copies or digital PDFs generated directly by your employer and sent via email; we cannot accept screen captures to verify income.Once your completed application materials have been received and it appears that you would meet our qualifying criteria, we would send you a link to perform a credit/criminal background check (this minor expense would be yours), and if those results come back acceptable, we would offer to proceed.

If you use it as several down payments and use leverage you could be off to the races with many more Class B or C units that will still cash flow for you.

It is invaluable to quickly calculate a mortgage payment.3.

If you’re offering $450K, then you could offer to take over the $120K payments and seller finance the remaining $330K.