It is my understanding that if your business is structured as a sole propietor then your SSN# will be your employee ID as long as you don't have any other employees. The company earnings/profits will be added to any other income source you have to calculate your total taxable earnings.
Rent or Mortgage. You should expect to spend between 25 to 30 percent of your net income each month on rent or mortgage. Landlords and property managers typically require you to make at least 2.5 to three times the rent to qualify as a tenant.If your current home takes more than 30 percent of your income, it is time to add to your income, get a roommate or find a cheaper place to live.ercentage guidelines help with money management. Developing percentage guidelines for your family income is vital to a family budget. This allows you to spend what is needed without going over the allotted amount that you have set for each category of expenses.
As for just how big a percentage of your income that housing budget should be? It all depends on whom you ask. Income used for housing: What others say The traditional model: 35 percent/45 percent of pretax income. In an article on how the mortgage crash of the late 2000s changed the rules for first-time home buyers, the New York Times reported: