"Here is my tax return but let me tell you what I really make." At this point, many lenders want to put their hands over their ears and say "I can't hear you!" Why? Because
In a recent AICPA (American Institute of CPAs) survey, CPAs were asked what they think the major source of the tax gap is. The tax gap is the estimate of the shortfall of revenue collected
In my tax return analysis workshops I ask the lenders for common adjustments to get them from taxable income to recurring cashflow to pay debts. The first one mentioned - and the loudest - depreciation.
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