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Episode-2898- Matthew Sercely the “Agorist Tax Adviser” — 6 Comments

  1. Thanks Matthew for doing the episode, it was very informative.

    Am I understanding this correctly:

    If I set my growing side hustle/business up as a corporation and transition into this corporation as an employee, on paper I am basically just quitting my job and working for somebody else?

    This would make transitioning to self employment easier on paper when going for a mortgage or loan. Thoughts?

  2. I have done this and the mortgage co could tell I also owned the business. They required the business tax returns alongside mine for a home loan. This was in 2007 when money was easy right before the 2008 crash.

    I would reach out to a random loan shark and ask how they process this sort of transition.

  3. Hey Nicole!

    So from what I understand a mortgage company is going to want to see either two years of books for a soul proprietor or one year of books plus one year of your prior employment.

    My girlfriend and I bought our first fourplex using my credit as I have a W2 slave job and she is the entrepreneur with two start ups. So on paper I need to meet the requirements for a loan.

    Fast forward a couple of years and now we are ready for a second property except that at some point I would like to no longer being employee. That may create a problem because it would mean at minimum a year worth of business before a bank would offer a loan to me. Going S Corp and me be the employee would change that.

    Of course it could be another year or two before real estate actually becomes reasonable again so maybe now is the time to take the plunge instead of waiting.

    No one said being an adult would be this difficult 🙂

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