u/IrenaReina

I’m self employed and take a lot of deductions. Unfortunately, my tax returns make me look destitute. I know—I screwed up by taking so many deductions…unfortunately my time machine is broken.
The problem is that I’m trying to assume the mortgage from my ex so I can keep my interest rate and stay in my home. It’s 204k for 20y at 4.25%.
The lender says I don’t make enough to get approved. They can’t use bank statements qualify me, nor a P&L. They also said I can’t use a income from renting a room bc the house is my homestead (wtf?) I absolutely make enough to pay the mortgage, I just can’t prove it to them in any form that they will accept. I feel so defeated.
How do small business owners do it?!
I feel like I’ve failed at being an adult. I’m not even convinced I’d be approved to rent a house 😩
So, they told me to find a co-signer. My mom agreed but she lives on SS and only brings in 20k/yr. My tax returns claim $24k. Even our measly returns together can’t get us to that 50k threshold that I need.
I’ve applied to be an scorp which will help, but I’ll have to wait 2 years before they can use those returns to qualify me.
I don’t know what to do. Should I just sell the house and rent?

I have been a cosmetologist for 22 years. I currently work from home operating my own small business with a consistent and reliable income of about $65k/yr. I love what I currently do for multiple reasons, but I’m also feeling a little burnt out on entrepreneurship. I’m responsible for my own retirement, PTO, health insurance, etc. Including those added expenses I feel stretched thin. I’m not sure I want to do what it takes to earn the extra money in this career…more hours behind the chair, social media following, continuing to raise prices.

I’m considering going back to school for a career that would offer more support. I have 2 children, single mother, and I’m not getting any younger!!

I’ve always been interested in medicine and in fact I did a brief stint (one year) working as a PCT in a hospital 13 years ago. I also completed all the pre-reqs for nursing at that time. Clearly I never completed nursing school, and I won’t get into why, but the timing wasn’t right.

My experience in the hospital turned me off of nursing, but I’m still interested in the science of medicine. Radiology seems like a good fit because I think I can still work while completing the program…? Unfortunately this is necessary to cover expenses.

All that to arrive at my actual question: Can I jump straight into nuclear medicine without first doing a radiology program? Or would I need to do radiology first, then make the move after some experience?

Long story so I’ll just give bullet points:

I have a bachelor’s degree in studio art

Currently working as a hairstylist from home (garden studio) making 65k/yr

I am divorced with 2 children. Single mom with 50/50 custody

I have already increased my hours as much as I possibly can while maintaining my home/parenting responsibilities/resting my body

I’ve increased prices 3 times in 6 years

My goal is to make 100k/yr to feel less financial anxiety

I want benefits…PTO, vacation, retirement, etc

My body will eventually fail me in this career

I would love some advice from other single moms that went back to school. What did you choose to learn? How did you juggle your current career, school, kids, life? I know I will suffer, feeling burnt out and exhausted all the time. Was it worth it?

Do I grab the low hanging fruit and continue working in this industry? What specialty will earn me 100k?

I’m here searching for ideas and potentially a mentor. I feel stuck bc my current situation is not that bad. There are so many things I absolutely LOVE about owning my own business and feeling like a part of my community. I’m just worried it’s unsustainable, and I’m weary of constantly worrying about finances.