So I'm looking to buy a house, I was hoping for next year but being self employed that's not going to happen since I need 2 years tax returns (unless you guys know something I don't).
My gross income is around 380k a year (projected)
So in any case preparing for 2023, obviously I'll have my 2022 tax return. For 2021, I only technically worked for 6-7 months out of the year (projected assuming I work and take December off). I'll be working full 12 months for 2022 so I'll be filing a meatier tax return with almost no deductions to boost income for DTI. My question is: for 2021 can I just file with half of my income so say 190k this year since my business officially opened in July and was officially incorporated in May of 2021 and would lenders understand that hey my income would have been 380 had I been open the whole year like in 2022 or should I just eat the "proof of income fee" as to avoid trouble?
So tldr should I skip out on deductions and eat a larger tax bill for 380k or can I get away with filing for 190 at least this year.
Other question is should I add DW on payroll to give her some income or would we be okay with household if we're going to both be on loan. (I've convinced her to become a housewife since I make more than enough now).
Looking to purchase in the 800k-1kk range, only monthly expenses would be my new car (140k loan over 6 years est 2600 a month), and my other new to me car that's really for my business but will be going in personal credit for about 800 a month. Probably going to be putting 20% down, so the DTI shouldn't be an issue from my research. Just trying to see if I can save 30k on my tax bill lol...
Ex: 742, TU: 726, EQ: 733 03/31/2021
Discover it cashback: $10900
Citi DC: $13000
WF Propel: closed 2k
Amex BCED: $3000
Amex Gold: $NPSL
Amex Plat: NPSL
Cap1 QS: $3200
Cap1 VX $50k
VS CC: $2900
Kohls: $3000
Synchrony car care: $3000
citi best buy visa: $8500
