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Self Employed Mortages
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<blockquote data-quote="ridered3" data-source="post: 661658" data-attributes="member: 1371"><p>Basically my former employer had an Excel Template he used for most clients with built in formulas so that when you entered data into Tab1 it automatically pulled it into Tab2 so you didn't have to enter everything twice. </p><p></p><p>Tab1 had all the Tax Write Offs for the specific client (Loses, Depreication etc) and was used for Tax Returns. </p><p></p><p>Tab2 showed straight Income and Expenses for the business, but did not show all the tax stuff. </p><p></p><p>The nuts and bolts of their business was the same and accurate, but the ending Net Income/Loss was different based on how many write offs etc. </p><p></p><p>These clients were pretty well established in terms of lending via Lines of Credits as well as taking salaries etc out off the top. </p><p></p><p>While this method works, I didn't care much for it since it was legal, but messy at times too.</p></blockquote><p></p>
[QUOTE="ridered3, post: 661658, member: 1371"] Basically my former employer had an Excel Template he used for most clients with built in formulas so that when you entered data into Tab1 it automatically pulled it into Tab2 so you didn't have to enter everything twice. Tab1 had all the Tax Write Offs for the specific client (Loses, Depreication etc) and was used for Tax Returns. Tab2 showed straight Income and Expenses for the business, but did not show all the tax stuff. The nuts and bolts of their business was the same and accurate, but the ending Net Income/Loss was different based on how many write offs etc. These clients were pretty well established in terms of lending via Lines of Credits as well as taking salaries etc out off the top. While this method works, I didn't care much for it since it was legal, but messy at times too. [/QUOTE]
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