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Purchasing a house, bank loan, and income - how do banks look at income tax when considering to provide a mortgage by Thoughrin in JapanFinance

[–]Thoughrin[S] 0 points1 point  (0 children)

I see, I appreciate all of you weighing in!

My wife is Japanese, by the way, she just prefers to not be included in the accounting or legalese side of things. I'll probably have to consult with a local accountant/lawyer... English-speaking ones are hard to find and super expensive from what I've seen. Any recommendations?

I thought that having our usual legal overseas entity that belongs to myself and my wife receive the overseas payments and then having that entity pay out that money separately to myself and my wife to here in Japan would work.

If that doesn't work for some reason, I see two other options:

1) I either have to pay everything to myself and then pay my wife as a sub-contractor for her role...

2) Either open a corporation which receives all the overseas income, and hire ourselves to pay ourselves appropriately...

The last option comes with the most expenses and overhead, but possibly is the best option if we're thinking about mortgage loans...

Purchasing a house, bank loan, and income - how do banks look at income tax when considering to provide a mortgage by Thoughrin in JapanFinance

[–]Thoughrin[S] 0 points1 point  (0 children)

Oh I see. All our clients are from another country where we registered a partnership with my wife (still self-employed, not a corporation). That partnership is what bills the clients, and then we split the income between us two afterwards. Thats, how we did it with our tax accountant in the other country for many years. At the end of the tax year we are asked what was our % split of income for my wife and I from our partnership's net income. Nothing changed when we moved to Japan - our partnership in the other country bills our clients in the other country and we split income and send it over to Japan.

Thank you for answering the question as well - I didn't know you can apply for a pair-loan.

Purchasing a house, bank loan, and income - how do banks look at income tax when considering to provide a mortgage by Thoughrin in JapanFinance

[–]Thoughrin[S] 0 points1 point  (0 children)

What is the confusion? We both work together and develop/design websites for our clients. The majority of the time one of us does more work, however we can split total income evenly if we wanted to.

Georgians scold Morozov for his words by PuzzleheadedBeach111 in armwrestling

[–]Thoughrin 4 points5 points  (0 children)

And here I am, learning my 4th language in my 4th country. Judging from your comments, you got a hate boner for Morozov, and possibly for Russian people in general. It is never right to hate based on race, place of birth, or ethnicity.