Quote:
Originally posted by BlueSkyJaunte
Is it unethical to cheat Uncle Sam out of his due? No. Is it illegal? Yes.
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LOL!! I was discussing doing a refi on my house for a 2nd mort. (I didn't do it)
The point is the mortgage rep from the bank made the statement, "Oh, I see your self employed, this means we will have to do a stated income". I asked why and she told me that is what everyone that owns a business does.
I responded I do not have to. I take a paycheck and pay taxes like my employees. I can prove my income.
She laughed and said I was a rarity.
So who is being more illegal? The $400 a day sandwich guy or the small business owner hiding all his income and cheating on their axes?
I guess the answer is both.