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.
Your deduction is based on your business use percentage, i.e., your business miles as a percentage of your total miles. The second method is to multiply the miles you drive for work by the Internal Revenue Service standard mileage rate, which changes every year (and sometimes twice a year).ederal tax law allows you to claim a deduction for the business mileage if you're not reimbursed for the expense. If you work for an employer who requires you do some traveling using your own car, federal tax law allows you to claim a deduction for the business mileage if youâre not reimbursed for the expense.