eTrain: Reading & Understanding Income Tax Returns —
03, 2013 —
10:00-11:30 a.m. PT
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Presented by Tim Harrington, CPA, President, Team Resources, Inc.
If self-employed loan applicants only have a tax return to verify their income, how do you determine their actual cash flow?
In this course Tim Harrington, CPA, will help you take the mystery out of tax returns as you study Federal Form 1040 including , Schedule C (Sole Proprietor Income), Schedule D (Capital Gains), Form 6252 (Installment Sales), Schedule E page 1 (Rental and Royalty Income), and Schedule E page 2 (Partnership and S Corporation Income).
Get the knowledge and tools you need to make solid loan decisions on self-employed applications as you learn:
- How to obtain cash flow from tax returns (tax returns show taxable income, not cash flow)
- How to determine if the borrower is really making money or if this is just a tax income
- How to analyze if they are really losing money or are just sheltering their income from taxes
- If they are self-employed, how much income the owners are taking out of the business
- Non-taxable forms of income that are true cash flow
- Expenses that reduce taxable income but are NOT negative cash flow
- One expense that is not deducted from a tax return that we have to deduct
A VERY SPECIAL GIFT! All participants will receive a FREE copy of the popular LENDERS TAX ANALYZER© software, used by lenders nationwide to determine cash flow from personal income tax returns. The LTA software normally retails at $239.
Who Should Attend?
- Chief Lending Officers
- Loan Officers & Underwriters
- Loan Processors
- Member Service Representatives
- Branch Managers
Meet the presenter, Tim Harrington:
Tim Harrington uses his knowledge, wit, unpretentious delivery, and his years of credit union experience to provide consulting and training for hundreds of credit unions and tens of thousands of their volunteers and staff members nationwide. He has made presentations for many national credit union organizations and NCUA, as well as for credit union leagues in forty-five states. Tim is also on the faculty of the CUNA "CU Finance for Non-Financial Managers and Volunteers" School, CUNA Management School and the CUNA Volunteer Certification School.
Since 1996, Tim has been President of T.E.A.M. Resources, providing consulting, strategic planning, and training to large and small credit unions from coast-to-coast. Tim was formerly the Chairman of the Board of a $150 million credit union in Tucson, Arizona, and, prior to that, a Partner with the nation's 3rd largest auditor of credit unions.
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