October 2, 2020
If you work in the Hospitality business and you make tips, the YES you should claim your them when filing for your next tax return. Not only is it the legal thing to do, but if you are in the market to buy a home, a lender is going to look for 2 years of income on your tax returns and pay stubs. If you are looking to buy a home, this will help you qualify for a mortgage. Without claiming, the lender can only use your hourly wage minus your tips. So don't hesitate, start now and you will be better prepared when you are ready to buy a new home! Contact Robert DiGiore at 813-504-8593 or email him at Robert.DiGiore@FreedomMortgage.com if you have any questions!
If you are looking to buy or sell your home, contact us today. We save our clients money and sell our homes for top dollar.
Phone: (516) 909-9213 or at (813) 699-1800
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