2006-06-08 09:02:25 · 4 answers · asked by Joan G 1 in Business & Finance ➔ Personal Finance
sure
2006-06-08 09:05:43 · answer #1 · answered by laura468 5 · 0⤊ 0⤋
If you have been reporting tip income on your annual tax returns you should not have a problem because you can show evidence of income over and above what is on your weekly paystub. If you have been underreporting, you'll have a harder time because your paystub only shows the $2.50/hour or whatever the current wage for tipped employees is, and you have no evidence that your income is really higher than that.
If you are looking to buy a home or other large purchase, you can do what's called Stated Income, where you tell the lender this is what you make and pay an increased interest rate; in return for the higher fees, the lender does not verify your income. The increased rate is usually pretty high-- I've got friends with Stated Income home loans as high as 12% even if they have good credit and a decent down-payment--- so it might be in your best interest to resubmit your tax returns for last year (maybe even longer depending on what you want the loan for) and declare more income. You'd have to pay the back tax and probably some penalties but if it saves you 4 points on a mortgagte, it's well worth it.
2006-06-08 10:31:37 · answer #2 · answered by dcgirl 7 · 0⤊ 0⤋
When my ship docks after 42 years in the sea, no problem. That's how long my boat has tossed and turned.
2006-06-08 09:07:57 · answer #3 · answered by Aria 4 · 0⤊ 0⤋
not sure of your question
so check my profile use the link there
see if it helps
2006-06-08 10:09:35 · answer #4 · answered by umdanddvd 3 · 0⤊ 0⤋