Old 02-10-2019, 05:58 AM
  #37  
anonymous_coward
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Join Date: Jan 2015
Posts: 966
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Originally Posted by NCSUboater View Post
If 10k were his total obligation every year and he's self employed, he'd be getting penalized for not filing quarterly estimates and would probably change his tactics within a year or two.

Stick to mortgages.
It is happening.

PAGE 1 OF 1120S SHOWING BUSINESS OWNERS W2 INCOME AND K1 INCOME
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PAGE 2 OF 1040 SHOWING BUSINESS OWNERS FEDERAL TAX PAYMENT OF $3,868
Name:  tax%20return%20abuse3_zps3pvzlmre.png
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Size:  191.9 KB

The borrower was loaded and had to be pulling in $250k to $300k yet got away with a $3,868 federal tax payment.
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