Debt to income ratio is the amount of total debt you have (car loans, mortgages, credit cards, etc) divided by your total income. Lenders look at this closely to hep minimize risk when originating mortgage loans. Take care.
Deductions you can claim. Where your home is also your place of business, you can claim deductions if you carry out income-producing work at home and incur expenses in using your home for that purpose.You can claim a deduction for the following: If the telephone is used for both business and private calls, you can claim a deduction for business calls. 2  decline in value (depreciation) of office plant and equipment, such as desks, chairs, computers.
1 The one credit you're claiming is your general business credit. 2  The credit claimed is subject to a limitation based on your tax liability that is figured on the form used to compute that particular credit. 3  You enter the allowable credit as your general business credit on Form 1040, Line 53.f you claim only one credit, Form 3800 is not required. The one credit is considered your general business credit. Keep track of each separate credit you claim because they are considered used up in a certain order. See the instruction on Form 3800.