Can a business owner with an LLC employ himself and then apply for a full doc mortgage? - mortgage first llc
I own an LLC. I understand that if I for my part, I wait for 2 years, but could then apply for a mortgage in full-doc as an employee? Would it be possible to make a return on my last two years, when he was employed by my own company and ask for a loan full doc mortgage early?
Wednesday, January 13, 2010
Mortgage First Llc Can A Business Owner With An LLC Employ Himself And Then Apply For A Full Doc Mortgage?
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2 comments:
to submit the legal documents that state LLC, which is a legal person, company or person Function
as an employee, you receive a Form W-2 at the end of the year, as an individual and therefore the documentation, you should note is being prepared for your income
You can not change his testimony, unless the LLC is a legal entity for the years that you want to change to restore the life of the LLC
pay yourself as an employee, you must also order the employer to pay 7.65% FICA and state taxes and federal unemployment, and thus a much more in taxes on wages and supplies the submission requirements and deposits of taxes on wages and salaries - weekly, monthly, quarterly, the strict deadlines for the submission and financial penalties if you miss the deadlines
You can not repeat the past few years, a "worker" - to answer your self and no financial penalties for mass production in recent years (30-40 +% easy right now - if you let them do that, I doubt that the fees to be preparing the case) is on the payroll, in addition to the repeat with the tax return in 1040, LLC and its employees in the last 2 years - it costs much more in taxes
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