Event Calendar

Thursday, February 22, 2024

Cracking the Personal Tax Return Code Part 1: Form 1040, Schedules B&C Webinar

Start Date: 2/22/2024 9:00 AM MST
End Date: 2/22/2024 10:30 AM MST

Event Website: https://financialedinc.com/cracking-the-personal-tax-return-code-part-1-form-1040-schedules-b-c

Organization Name: Independent Community Bankers of Colorado

Maelynn Lewis
Email: mlewis@icbcolo.org
Phone: (720) 607-7937

Tax returns are almost written in a secret code. This program and the accompanying software are the ‘magic’ code breakers you need. Determining actual cash flow from a personal income tax return is critical for a lender because borrowers don’t repay debt with taxable income; they use cash flow. Learn to accurately interpret personal tax returns and identify reliable, recurring income. Tax returns don’t show cash flow; they show taxable income. What you need to know is cash flow because that is how your loan is paid back. With the process outlined in this session and the free Lenders Tax Analyzer© software each registrant receives, you will gain an easy, reliable method to convert a borrower’s personal tax return (Form 1040) into a borrower’s cash flow statement. This is Part 1 of a two-part series.  In Part 1, you will learn to cash flow the front page of Form 1040, Schedule B (interest and dividend incomes) and Schedule C (sole proprietorship incomes). When you finish this session, you will be able do a little ‘magic’ and convert taxable incomes into cash flows that you can plug into your credit scoring model, your debt-to-income ratio, or your disposable income calculation.  (Note: This session is designed for consumer and commercial lenders. This method does not follow Fannie, Freddie, or QM rules used in mortgage lending.)
  • General: Identify recurring incomes as cash flow… and learn to ignore the rest
  • Schedule B: Determine qualifying cash flows from interest-earning investments, dividend-producing investments, etc. 
  • Schedule B: Identify and ignore phantom incomes that pass through as interest or dividends
  • Schedule C: Find hidden incomes and become aware of a hidden expense in sole proprietorships
  • Free copy of 2023 Lenders Tax Analyzer© software for 2023, 2022, and 2021 personal tax returns
  • Employee training log
  • Interactive quiz
  • PDF of slides and speaker’s contact info for follow-up questions
  • Attendance certificate provided to self-report CE credits
This informative session is designed for lending personnel, including chief lending officers, service representatives, new accounts personnel, loan officers, loan underwriters, loan sales officers, credit analysts, loan processors, branch managers, CEOs, and other key lending staff.
Cracking the Personal Tax Return Code Part 2: Form 1040, Schedules D, E & F, Wednesday, March 20, 2024

Consumer Lending Collateral Considerations & Documentation, recording available
Consumer Loan Underwriting 101, Thursday, June 13, 2024
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.
Timothy P. Harrington, CPA, TEAM Resources
Tim Harrington is Founder and CEO of TEAM Resources and has been a financial institution consultant for over 29 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.

1. Live Webinar Includes
  • Unlimited connections within your institution to the Live Webinar
  • Handout and Take-Away Toolkit
  • Available on desktop, mobile & tablet
  • Presenter’s contact info for follow-up
 2. On-Demand Webinar Includes
  • Recording of the Live Webinar
  • Available two business days following Live date
  • Handout and Take-Away Toolkit
  • Available on desktop, mobile & tablet
  • Free Digital Download, yours to keep
  • Share link with anyone at your institution
  • Presenter’s contact info for follow-up
3. Purchase the BOTH Option to receive all the benefits listed above! Full registration descriptions can be found here.

Online Registration

Registration is Closed
Closed: 2/21/2024 3:00 PM

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