Home Purchasing Power and Tax Deductions
Every year as a self employed or W-2 worker bee you may have the ability to write off certain expenses to reduce your tax burden, but this can effect purchasing power as a home buyer. The lender will look at a buyer’s income after subtracting these deductions effectively reducing the amount the lender will be willing to lend.
Here are two interesting blog posts I found thanks to Michael Sousa and GuaranteedRate.com worth reading before filing your taxes next year:
