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.
Reporting. How you deduct depreciation on your primary house depends on whether your business use of the home was as an employee or as a business owner. If your deduction was for employee business expenses you must itemize your deductions and claim your depreciation on Schedule A of IRS Form 1040.he IRS does not require you to use your primary house exclusively as a residence. If you operate a business out of your home, use a portion of your home regularly and exclusively for business, or rent out a portion of your home, part of your primary house might qualify for the depreciation deduction.