Hi,
I'm looking in to buying my first house. I'm wondering if having my own business can be used to my advantage when purchasing a property. I suspect I know the answer but thought it was asking just in case.
My business has a fair amount in the bank account and I did consider shutting it down and taking the tax hit for that as it would be lower then just getting hit for 40% when I take the money out.
I suppose what I'm really asking is that I've got a fair amount of cash tied up in the business, can this help me in any way, ignoring the ways where the tax man just hammers me.
Thanks for any advice.
Steve
I'm looking in to buying my first house. I'm wondering if having my own business can be used to my advantage when purchasing a property. I suspect I know the answer but thought it was asking just in case.
My business has a fair amount in the bank account and I did consider shutting it down and taking the tax hit for that as it would be lower then just getting hit for 40% when I take the money out.
I suppose what I'm really asking is that I've got a fair amount of cash tied up in the business, can this help me in any way, ignoring the ways where the tax man just hammers me.
Thanks for any advice.
Steve
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