Wednesday
Jan 23
2019

Determining Cash Flow from Personal Tax Returns After 2018 Tax Reform Part 1: Newly Revised Form 1040 & Schedules B & C

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This is the biggest change in some tax forms in 20 years!

With the 2018 Tax Cuts and Jobs Act there are important tax law changes and some of the IRS tax forms are hardly recognizable. Even experienced lenders and credit analysts will feel like they’re starting over. The good news is that the basic concepts are the same. Tax returns show taxable income. But borrowers don’t repay debt with taxable income; they use cash flow. The trick is learning how to obtain a reliable monthly or annual cash flow from a personal tax return. Incorrectly estimating cash flow from a tax return can result in bad loan decisions – or missed opportunities. Once you’ve properly converted taxable income into cash flow, that information can be used in your credit scoring model, debt-to-income ratio, or disposable income calculation.

Designed for consumer and commercial lenders, this two-part series will teach you an easy, reliable method to convert a borrower’s personal tax return (Form 1040) into a cash flow statement using the free software included with this course. Part 1 will cover Form 1040, Schedule B (Interest and Dividend Incomes) and Schedule C (Sole Proprietorship Incomes). (Note: This method does not follow Fannie, Freddie, or QM rules used in mortgage lending.)

Continuing Education: Attendance verification for CE credits upon request

HIGHLIGHTS

  • Making sense of the new six-page Form 1040
  • Recurring versus nonrecurring income
  • Schedule B: Determining cash flow from interest and dividends
  • Schedule B: Correcting phantom pass-through interest and dividend incomes earned from partnerships and S corporations (Schedule E partnership and S corporation income will be addressed in Part 2)
  • Schedule C: Hidden incomes and a hidden expense in a sole proprietorship

  • TAKE-AWAY TOOLKIT
    • Free copy of Lenders Tax Analyzer© software
    • Employee training log
    • Quiz to measure staff learning and a separate answer key

DON’T MISS PART 2!

This program is the first of two in a series

"Determining Cash Flow from Personal Tax Returns After 2018 Tax Reform Part 2:
Schedules D, E & F"

Tuesday, February 19, 2019

WHO SHOULD ATTEND?

This informative session is designed for anyone in the lending area including chief lending officers, service representatives, loan sales staff, new accounts personnel, loan officers, loan underwriters, credit analysts, loan processors, branch managers, CEOs, and other key lending staff.

 

NOTE:  All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.

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