Now I know how Cosmic Cowboy feels...

[Das Texan]

Its such a fucking pain in the ass to be self employed, when you are trying to refinance your home (along with other things) and also somehow try to mimimize your tax burden through perfectly legal means of writeoffs....like depreciation for equipment, mileage driven, business expenses, et al.

If you arent a huge corporation, nobody gives a fuck about you and does everything they can to dick you over, we suffer because big corporations are fucking morons.

Such a fucking pain in the ass.

I hope you assholes with W-2's love your life and the ease at which you have things like getting a fucking mortgage or doing your taxes.


I'm starting to wish we had gone into that depression last year.

[Horn Tooter]

I hear ya loud and clear!!

[Mark in Austin]

If you arent a huge corporation, nobody gives a fuck about you and does everything they can to dick you over, we suffer because big corporations are fucking morons.



I would say we suffer because big corporations are big corporations, but we (moronically) expect them to act like people with common decency. Their only concern are their own profits, period. And most of the time, short term profits.

It's like complaining about lions killing people in Africa. It's just their nature.

[Das Texan]

I'll say this, if it wanst for the corporate fat cats, we dont have this fucking recession, they essentially 'made' it due to their inability to offer credit (when it comes to housing especially) to people that should actually have credit extended to them and then we bail them out and do nothing really but a give them a slap on the wrist if that. I fully believe that if they had done their due diligence and acted properly, the economic crisis we all saw would have been avoided or been a lot less extreme at the very least. Fuck them.

Further, when is the GM shareholders meeting? I'd like to attend, you know since I'm technically a fucking shareholder of the company. :lol (Tongue in cheek before anyone comes raining down on me)

[MiamiHeat]

but you are your own boss.

nobody tells you what to do. you fucking call the shots.

and that is priceless.

[Das Texan]

Why are you complaining about taxes. The more taxes you pay, the more you made. Cheer up.


I'm actually not really complaining about taxes, but how some people dont really know how to calculate income for self employed correctly for the purpose of a federally backed loan aka a home refinance.

I didnt say its not nice to not have to answer to others, but the hoops you have to go through are fucking annoying, especially when people dont know their fucking jobs, and especially so when the fucking big corporations are fucking retarded beyond belief and in turn largely fucks over everyone else, while they get richer.

[Chief]

if you are self employed and cant afford a house on CASH then go get a job and close ur business.

[Das Texan]

if you are self employed and cant afford a house on CASH then go get a job and close ur business.

Ya I dont have 150k laying around. Thats just fucking retarded.

Underwriters just need to know their fucking industry.

[Frenzy]

Well I would think it's only like that for a bit...a year or two right? At least till your business makes profit enough to take care of it's own expense.

If your still bitching about in after long than that than perhaps your working for your business rather than your business working for you.

Takes a lot of heart to say "Hey I can do this on my own" But lets face it if you can't do it after a while may it's wise to cut your losses and get a job to actually help you bring money in.

[pawe]

I feel your pain.
I was recently denied a housing loan because I went from w2 to self employed.
They said they cant include income from self employment if you were on w2 last year.
One way though, the lender told me was get my taxes done but dont write off anything so they can get the average for the whole year of 2009..if i do that, I will pay $xx,xxx in taxes.
I know I can still get the 8k credit but $xx,xxx for taxes???

Greedy cats, now the people who really can afford a house cant even get approved because of all the requirements and rules.

[Das Texan]

Ya they really dick over self employed people in so many ways. You can be making 85k and be an employee and then move over to being considered self employed, just by getting a 1099 cause a company doesnt want to pay benefits of a any type. You could end up making more, say 100k a year, but unless you have been on said 1099 for 2 calendar years (Jan-Dec) you get fucked.

Oh and ya I was also told that if I showed that I made XXXXX for 2009 (which would essentially include writing nothing off for fucking depreciation), then I'd have enough income. I'd have to pay some 65% more in taxes for this year. That's just fucking hilarious.

My understanding is that you are supposed to use Form 1084 when analyzing self employed income under Fannie Mae guidelines (I got a fucking copy of it from their website) You add back depreciation to the fucking income.

Its not that I'm cheating the tax man, or at least not on purpose by writing off stuff like my dog's heartworm medication. I'm taking legitimate writeoffs, you know office expenses like paper, ink, et al. Depreciation expenses like vehicle mileage, laptop, printers, et al. Hell people who get W-2's try to get as many deductions as fucking possible, this is akin to the same damn thing. You add back in depreciation because its a non cash expense (I am almost positive thats how its classified) and I have more than enough fucking income)

I dont even get no 8k credit as I'm refinancing (or trying to).

This has nothing to do with my not being able to make it on my own at this point. This is all about doing your fucking job properly, using the correct form et al.

Oh and mind you my credit score is well over 700, so I guess thats totally useless these days. So much for paying shit off on time for over 10 years.