My SO just got a cash only, under the table job. It is unknown how long she'll have this job (it's a caregiver position and the family is paying cash to take care of their very elderly mother, not to be dark but realistically who knows how long she will last).
We're planning on mortgage shopping next month and are wondering what we should do with the cash. We figured self-employment taxes need to be paid since the family is not going to pay (they said that we can't mention them at all paying for the care, and while that would normally raise some flags, I think it's just because they don't want to get caught(?) being an "employer" that doesn't pay taxes on payroll), so that would leave us taking care of the tax bill.
So what should we do with the money in regards to the mortgage? Should we deposit it into the account we're saving the down payment in and then say that it's from a self-employment job? Or should we just keep it in cash and say that we never got around to putting it into an account so that it would be readily available for emergencies? I don't want to mess up anything since we're looking forward to getting a house. In case it matters, I have two traditional jobs and she has one traditional job and this cash-only job.
Submitted June 18, 2017 at 01:10AM by sometimesstuff-yeah http://ift.tt/2sG9c3y
