B
bellarue
Guest
What is the name of your state? California
My husband is a self employed contractor. We requested a draw from the bank for work completed on a job on Dec. 17, 2002-which was supposed to take one week to get. In the meantime, I transferred approx. $30000. from our savings to pay business bills (thinking this would be only for a week). The appraiser took 3 weeks to do the appraisal & we didn't get our money until January 2003. Normally this would be a good thing but we will be applying for a loan for our new house this year & our income will show $30000. less. Is there any way to show this income on 2002 taxes. We are set up on cash accounting method (not accrual). Any advice would be great-I want my new house!
My husband is a self employed contractor. We requested a draw from the bank for work completed on a job on Dec. 17, 2002-which was supposed to take one week to get. In the meantime, I transferred approx. $30000. from our savings to pay business bills (thinking this would be only for a week). The appraiser took 3 weeks to do the appraisal & we didn't get our money until January 2003. Normally this would be a good thing but we will be applying for a loan for our new house this year & our income will show $30000. less. Is there any way to show this income on 2002 taxes. We are set up on cash accounting method (not accrual). Any advice would be great-I want my new house!
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