[quote=meadandale][quote=SD Realtor]How do you pay yourself? Showing W2 income makes it a no brainer.
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Unless you pay yourself a pretty low salary via w2 to avoid outrageously high payroll taxes…;-)[/quote]
If we want to accommodate gaming of income taxes by the self-employed, then why not have two categories of home loans – one that is deductible if the underwriting for income was based exclusively on income tax returns, and an alternative on which no interest is deductible and which can use income information other than tax returns?
