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Part 2 of this series will cover Schedules E and F, which are some of the most difficult incomes to analyze. Rental properties can be looked at two different ways – one is often too conservative resulting in denied loans that should be approved. Partnerships and S Corps show pass-through incomes that are important to the IRS and tax preparers, yet mean almost nothing when determining cash flow. Farms often report income that was only partially taxable – or from a different tax year!
This session for consumer and commercial lenders will teach you how to read and understand a borrower’s tax return and convert taxable income into cash flow. It will make the process of analyzing personal income tax returns simple and understandable by using quality instruction and frequent examples. (Note: This method does not follow Fannie, Freddie, or QM rules used in mortgage lending.)
HIGHLIGHTS
Schedule E, Page 1: Rental and Royalty Income
Entails more than just adding back depreciation – learn how to find the real cash flow from these properties
Schedule E, Page 2: Partnerships and S Corporations
Most information that is passed through is useless because it doesn’t represent cash flow – learn what income can be relied upon and what should be ignored as phantom income
Schedule F: Farm Income – additional income that might be hidden in farmers’ tax returns
TAKE-AWAY TOOLKIT
Free link to download Lenders Tax Analyzer© software
Employee training log
Quiz you can administer to measure staff learning and a separate answer key
DON’T MISS PART 1!
This program is the second of two in a series Qualifying Borrowers Using Personal Tax Returns Part 1: Schedules A, B, C & D on Tuesday, February 14, 2017
All webinars are available for six months after broadcast
Attendance verification for CE credits provided upon request.
WHO SHOULD ATTEND? Anyone in the lending area including chief lending officers, service representatives, sales staff, new accounts personnel, loan officers, loan underwriters, credit analysts, loan processors, branch managers, CEOs, and other key lending staff.
ABOUT THE PRESENTER – Tim Harrington, CPA, TEAM Resources, President and has been a financial institution consultant for over 27 years. Tim has advised lenders on verifying income from tax returns since 1992, and consults with financial institutions nationwide on issues of strategy, profitability, and board governance. He speaks at nationwide conferences and has presented in Canada, Mexico, Puerto Rico, Jamaica, and the Virgin Islands. Tim is the author of the popular software, Lenders Tax Analyzer. In addition, his book “Eisenhower on Enlightened Leadership” has been used by management teams nationwide to improve leadership skills. He did his undergraduate studies at Gonzaga University and graduate studies at the University of Washington.
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