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.
As a general rule, you can claim a tax deduction for the salary, wages, commissions, bonuses, and other compensation that you pay to your employees, provided the payments meet the following requirements.The compensation must be: 1  ordinary and necessary, 2  reasonable in amount, 3  paid for services actually provided, and.s a general rule, a business can claim a tax deduction for the salary, wages, commissions, bonuses, and other compensation it pays to its employees. However, compensation paid to business owners may be subject to serious scrutiny by the IRS. Related Content.