277 - 1099 Tax Tips for Renters Looking to Buy
How to Buy a Home: The #1 First Time Home Buyer Podcast
David Sidoni
4.8 • 891 Ratings
🗓️ 22 October 2024
⏱️ 23 minutes
🧾️ Download transcript
Summary
Ever feel like your tax return is a ticking time bomb for your homeownership dreams? David Sidoni's got your back! In this episode, he throws a lifeline to self-employed and 1099 earners who might be unknowingly shrinking their mortgage potential with those tempting tax deductions. Get ready to discover the surprising strategy that could boost your buying power and unlock the home of your dreams (without the last-minute scramble!).
Quote: "To say that the stress scramble reduces people to tears, that's actually an understatement."
Highlights:
- Could those "smart" tax moves be secretly shrinking your mortgage potential?
- What if the path to a bigger mortgage involves a surprising twist – paying more to the IRS?
- Is it possible to rewrite your tax history and still come out ahead in the home buying game?
- What if you could start taking action years before you're ready to buy and sidestep the stress scramble entirely?
- Could a "unicorn" lender be the missing piece of the puzzle for self-employed homebuyers?
Connect with me to find a trusted realtor in your area or to answer your burning questions!
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This podcast was created for YOU - to cut through the confusion and empower you to buy your first home. Let's change how the real estate industry treats first-timers, one buyer at a time- starting with YOU!
Visit our Resource Center to "Ask David" AND get your FREE Home Buying Starter Kit!
David Sidoni, the "How to Buy a Home Guy," is a seasoned real estate professional and consumer advocate with over 18 years of experience helping first-time homebuyers navigate the real estate market. His podcast, "How to Buy a Home," is a trusted resource for anyone looking to buy their first home. It offers expert advice, actionable tips, and inspiring stories from real first-time homebuyers. With a focus on making the home-buying process accessible and understandable, David breaks down complex topics into easy-to-follow steps, covering everything from budgeting and financing to finding the right home and making an offer.
Subscribe for regular market updates, and leave a review to help us reach more people. Ready for an honest, informed home-buying experience? Viva la Unicorn Revolution - join us!
Transcript
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| 0:00.0 | Are you seeking the answer to the one big question before you start your home buying plan? |
| 0:05.9 | I get people asking me their big question 24-7. |
| 0:08.8 | So in order to help more of you out there, I'm going to use the next several episodes to answer |
| 0:13.9 | these questions. |
| 0:14.8 | They come directly from you, the listeners. |
| 0:17.3 | And there's something for everybody in each question and each answer. You could be very |
| 0:22.0 | surprised that so many of these answers connect together, creating the building blocks of all the |
| 0:27.8 | pieces of your home buying process. And you're going to get tremendous insight on how to build |
| 0:32.4 | that Jenga tower of your individual home buying plan and keep it from crashing down. Let's get to it. |
| 0:52.5 | What is up, my How to Buy a Homies? |
| 0:55.9 | Welcome to today's show. |
| 0:57.3 | I'm still David Sedone. |
| 0:58.6 | This is the How to Buy a Home podcast. |
| 1:00.6 | Yeah, it's been here since 2019. |
| 1:02.8 | If you're new to the show, I'd like to say welcome to you. |
| 1:05.7 | Be sure you check out the 10 basic steps that every first time home buyer has to know. |
| 1:10.0 | That starts at episode 201. |
| 1:12.2 | Now, what we're going to do is we're going to get into listener questions. |
| 1:14.9 | Today's episode, which is about adjusting tax returns to get a loan approval for self-employed |
| 1:20.6 | and 1099 people. I'll also talk about questions I got on tax deductions, loan confusion, |
| 1:26.5 | inspections, affordabilities, |
| 1:28.4 | adjustable rate mortgages, moving somewhere for just a short time, people sending me Zillow |
... |
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