If you are in the service industry and maybe you’re a bartender, a busser, or a server somewhere where it’s very tip heavy, you may be inclined to claim basically no cash tips.
My advice to you, especially if you want to get into real estate investing or buying a home: claim those tips.
That way, you’re showing significant income. When you do want to go get a loan, it’ll be a lot easier to get that money and secure it.
I’m by no means a tax advisor, but I would say that that would be really helpful. I’ve talked with a lot of servers or people in the restaurant industry that truly can buy a home, but they haven’t claimed what they really claimed on income.
If you want to learn a little bit more, we’d love to get you pre-approved and talk a little bit more about the process.
I want to help more people like you acquire homeownership.