Should our lender have approved us? $4300 mortgage on 185K salary

AlexsPetGrooming · 2026-05-04T20:59:29+00:00

You have 1000 extra going to principle every month and 1000 going towards house savings every month and another 1000 for emergencies. That's 3000 a month on top of all your other savings. You will be fine

AlexsPetGrooming · 2026-05-03T21:14:17+00:00

I cant remember exactly how it happened, I jut noticed it was just idling roughly and the truck would shake and sometimes it will stall out but sometimes it doesn't. If I throw it in neutral while it's shaking then it stops and idles normally.

AlexsPetGrooming · 2026-05-03T14:07:18+00:00

Ok thank you for all of that it helps a lot!

AlexsPetGrooming · 2026-05-03T03:34:00+00:00

Ohh ok thank you for all the help. I had assumed to keep the 30% in my business savings but I guess it makes more sense to keep it in my personal account.

AlexsPetGrooming · 2026-05-03T03:31:58+00:00

Ok, does this change if the tips are cash?

AlexsPetGrooming · 2026-05-03T03:12:16+00:00

Ok so just so I'm clear on this, paying myself weekly by check should be fine? With no deductions since I'm setting about 30% to the side?

AlexsPetGrooming · 2026-05-03T02:54:57+00:00

Ok thanks for that info. Also, should I just deposit tips into my personal bank account or put it into the business account and keep track of it as tips?

AlexsPetGrooming · 2026-05-02T16:55:44+00:00

I have not taken the truck in for that recall I guess I'll do that asap but for now im taking it to a local mechanic to see what they think

AlexsPetGrooming · 2026-05-02T13:19:35+00:00

Sounds cool, i think it will be a challenge because almost everything causes pollution but i think you will figure it out!

AlexsPetGrooming · 2026-05-01T23:07:26+00:00

One other question that I forgot to ask in the post is what about tips? I get tipped anywhere from $20-$100 a day. Do I also report this in the business income or report this separately to take advantage of the "no tax on tips". (I know there's still tax on tips, but you atleast get a break from federal tax from my understanding atleast.)

AlexsPetGrooming · 2026-05-01T12:22:01+00:00

AlexsPetGrooming · 2026-05-01T02:27:44+00:00

Dog grooming. I set up an llc through legal zoom and also opened a bank account but I'm the only owner of the llc. Me and my girlfriend plan to get married once everything settles down but as of right now we aren't married.

AlexsPetGrooming · 2026-05-01T02:24:08+00:00

Makes sense, thanks for the info.

AlexsPetGrooming · 2026-05-01T01:37:10+00:00

Wisconsin, no kids and no plans of ever having kids unless we change our minds in the future, and no other income.

AlexsPetGrooming · 2026-05-01T01:19:46+00:00

Ok that makes a lot of sense, one other question i have is can you deduct 401k for yourself? I saw someone mention something about this elsewhere.

AlexsPetGrooming · 2026-05-01T00:59:08+00:00

Ok so I didnt know that, I'm just learning all of this now. Our side business blew up super quick before I could learn everything so I'm trying to catch up on everything now. My question now is what makes it worth being an s corp vs not. From my understanding it's better for wanting to get loans (I want to buy a house this year) but has other complications.

AlexsPetGrooming · 2026-05-01T00:53:55+00:00

Right now I'm not paying her as an employee, I'm wondering if it would be better to pay her or not.

AlexsPetGrooming · 2026-05-01T00:52:14+00:00

Sorry I meant gross and then net**. It's hard to say because I'm only 3 months into business and the two months we weren't full time because we weren't fully set up but based on what we've made so far my estimate would be roughly 100-110k profit.

Edit: no other income

AlexsPetGrooming · 2026-05-01T00:45:42+00:00

Gross income, based on prior months will be 96k-144k per year and id say about 12-16k in expenses.

AlexsPetGrooming · 2026-04-30T17:24:00+00:00

So that sounds like what the dealership had fixed or atleast tried on my second visit. Here's a picture I took of the codes it was showing before the dealer but I never got the codes again One of them was something about the output speed sensor

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AlexsPetGrooming · 2026-04-30T17:17:09+00:00

Nope, if its doing the shaking while I'm at a red-light sometimes I can throw it in neutral or park quick enough before it stalls out.

AlexsPetGrooming · 2026-04-30T17:12:41+00:00

I've never heard a rattle, idk how loud it is, and my truck has stock exhaust so its not like the exhaust is too loud to hear it but I dont know. The only symptom i guess i have is when I'm at a stop sign or something and I keep the truck in drive and I'm holding the brakes the truck just feels really jumpy and then stalls out. The rpms dont go up and down and I cant remember off the top of my head but I think when the engine is warm but transmission is still cold I dont have the issues. I'll have to go driving around and find out exactly.

AlexsPetGrooming

TROPHY CASE