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    dseitz's Avatar
    dseitz Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 19, 2015, 09:08 PM
    Statement of no business
    My previous CPA filed my taxes and submitted a schedule C for a business loss. Now that I am trying to buy a house the mortgage company needs a letter stating that I do not have the business anymore even though I have assured them that I do not have the business. Since she is reluctant to write the letter. Can I go to another CPA and ask for the letter stating I do not have a business?
    Wondergirl's Avatar
    Wondergirl Posts: 39,354, Reputation: 5431
    Jobs & Parenting Expert
    		  
    #2

    Nov 19, 2015, 09:11 PM
    Why is she reluctant to write the letter?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #3

    Nov 19, 2015, 09:27 PM
    Yes, was there really a business? And did you really stop the business?

    Was the CPA your business accountant, or just doing your taxes?

    And why would just a letter from you, as owner of the business not be enough?

    And lastly, what difference does it make, if you are operating or not operating a business? It should be your over all credit and/or your current incomes?
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
    		  
    #4

    Nov 19, 2015, 11:27 PM
    Don't know that this is an accounting issue. All your CPA knows for sure is there was a business and it might not have been profitable. Where is the business registered? Has it's registration been cancelled?
    joypulv's Avatar
    joypulv Posts: 21,591, Reputation: 2941
    current pert
    		  
    #5

    Nov 20, 2015, 05:17 AM
    Your tax preparer doesn't know that you don't have a business. You could be suffering more losses as we sit here for all anyone knows.
    Your lender has a right to be assured of all that, and as far as I can see, you have to end your business license with your state, and anything else such as a local permit to operate at a location.
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