Legal Question in Tax Law in New Jersey

I am trying to get a mortgage loan and both my wife and I own a business. My wife just started her business last year and have a lot of business expenses. I am wondering if her business loan will affect me getting a loan. I am applying a loan only under my name. Would it be better to file separately or will filing jointly hurt my chances?


Asked on 4/22/18, 3:52 am

1 Answer from Attorneys
Ronald Cappuccio Ronald J. Cappuccio, J.D., LL.M.(Tax)

It is much more difficult for new business owners to get a mortgage than W-2 employees. From a tax standpoint, you should have your returns prepared both ways, but it sound that MFJ is probably going to be better. Frankly, you will need more documentation and it will take longer, but you should consider trying to get the mortgage.

Good luck!

Ron Cappuccio

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Answered on 4/24/18, 7:27 pm


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