Hey, Weird Tax US Question.

[SeoProMatt]

Hey guys,

I have a weird question for people that file tax in the U.S.

I want to invest in property. I make about $100,000 with my day job and online work. Break Down is Approximately $80,000 from my day job and $20,000 from Affiliate marketing.

Because I have student loans, in order to get a duplex in the price range I want, I need to be making $120,000-$150,000/year.

What are the chances of me getting caught if I say I make MORE in affiliate marketing than I actually do? Instead of writing that I make $20,000 in affiliate marketing, I say I make $50,000 in Affiliate marketing.

Yes, I would pay more taxes but I would be able to qualify for a larger property.

I know most people try to lie and say the made less than they did but what if I say more?

I know the penalty, but what are my realistic chances of getting caught.

A few years ago I maid $11,000 from affiliate marketing and wrote I only make $4,000 and I got away with it. This time I want to do the opposite.

Any advice is welcome but to reiterate my question, What are my chances of getting caught if I say I make more than I actually did on my tax return? I don't mind paying the extra taxes as long as I can qualify for the duplex.

 

[ExperimentalSEO]

Even if you don't get caught its fucking stupid. You can't afford the house on your current income, but you want to shell out more money in taxes.

 

[JamaicanMoose]

That's mortgage fraud. Don't be a dumbass.

 

[Deleted member 813988]

Talk to a mortgage specialist and they’ll work out deal for you, don’t do fraud.

 

[mhtro]

I guess one way to find out!

 

[whoami]

Won't the mortgage lender want to see 1099s that support you making $50k?

 

[Amoled]

In general this is fraud, as you are pretending false things, to get a financial advantage/ this mortage whatsoever

 

[zionbar]

Dude, they dont give a shit about what you 'say' you earn. you'll have to show tax returns.
you can simply not deduct expenses and that will show a higher income. completely legal no problem with that, you're basically paying more taxes so ...
but yeah talk to an accountant

 

[SeoProMatt]

Even if you don't get caught its fucking stupid. You can't afford the house on your current income, but you want to shell out more money in taxes.

It's a duplex, the rent from the two units will cover the mortgage and then some.

Won't the mortgage lender want to see 1099s that support you making $50k?

They need to see my tax returns. on a 1099MSC which you need to fill out for affiliate marketing, just ask you how much you made then deductions and things like that.

 

[ExperimentalSEO]

Even though you are plan rent from the duplex, there may be an extended periods that one or both are not rented out.

 

[AlejandroAbroad]

Many people lie on their taxes but it wouldn't be worth it if you just happened to be audited.