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.
Before discussing specific small business tax deductions, you must first understand the two classifications of expenses. There are business expenses, and then there are capital expenses. Both fit the criteria of ordinary and necessary, however, both do not qualify as tax deductions in a small business.Business expenses are the typical day-to-day costs of doing business. These include items such as rent, utilities, insurance, travel, and employee salaries-these expenses are deductible.oth fit the criteria of ordinary and necessary, however, both do not qualify as tax deductions in a small business. Business expenses are the typical day-to-day costs of doing business. These include items such as rent, utilities, insurance, travel, and employee salaries-these expenses are deductible.