It is very difficult for self employed business people to obtain mortgages in today's real estate market. The lenders are no longer willing to make loans to many self employed workers regardless of how great their credit. I frequently speak to frustrated established business owners that can not get a loan for Charlotte Homes. Why is this?
Self employed workers include business owners and those who employ the majority of our citizens. I have recently encountered many business people who no longer qualify for loans. These owners must not only be responsible for their employees' livelihood, they must also be able to meet business expenses, vehicles, pay local and federal taxes in addition to paying accountants and many more. These are actually the people in our society that create jobs, spark the entrepreneurial spirit and keep our country going forward. They do have a wide variety of expenses and deductions and this is what the mew rules do not like. Lenders understand money and also understand that an established business owner understands finances and is the model person to loan money. The why will they not lend any more?
It is this business owner, through diligence and careful planning, that supports the sign maker, the print shops, the advertisers, the restaurants and other entertainment venues, the local sports teams, the schools and so much more. The financial squeeze on these owners will require them to stop feeding the economy, pay their profits to the Government via taxes just to get a loan. This is going to have a HUGE negative impact on our economy,
Tax rules are written for a reason. It would appear as though the Government only wants to allow the multimillionaires to utilize the tax rules and not the small businessman. This is just wrong. No matter which party you support, consider supporting the true employers in our society. If the Government is truly concerned about businesses applying legal tax rules, then they should want to remove the rules form the books. Why have the rules if it is punish the little guy and only benefit the large corporations. Go with a flat tax and make it fair to everyone. The small business is what drives our economy! They are not the enemy or part of the problem! Putting them out of business only further compounds the national economic crisis; as we put them out of business, they lay off their employees and then more of us can not pay for our homes!
Please contact your representatives and help stop the madness! The current system is broken and we need people in there that actually know how to fix the problem. We do not need professional politicians that have never had to make payroll, had to make tough decisions to make ends meet, not make money off of law suits and tax dollars; we need leaders willing to lead! We are either part of the problem or part of the solution. The choice is ours! Help our economy; help the real estate industry and help yourself!