Reading & Understanding Income Tax Returns

 Member Service  Lending/Collections

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$200 for Affiliates Non-PLP
Non-Affiliated Contact Leslie Poole

Program Description

How do you calculate a self-employed borrower’s actual cash flow and ability to repay a loan? Tim Harrington, CPA, will help take the mystery out of your borrowers’ tax returns. You will learn how to ‘Cash Flow’ a personal Federal Form 1040 including, Sole Proprietor Income (Schedule C), Capital Gains and Losses (Schedule D), Rental and Royalty Income (Schedule E page 1), Partnership and S Corporation Income (Schedule E page 2) and more.

With this information, you will have the knowledge and tools you need to make solid loan decisions on self-employed borrowers as you learn:

  • To determine a borrower’s true cash income from a personal tax return
  • How to identify hidden income that may qualify a borrower
  • How to identify hidden expenses that may disqualify a borrower
  • How to deal with a borrower who says “I really earn a lot more than this, but this is all I report to the IRS”
  • How to determine the real impact of rental income

Program Length: 95 Minutes

Who Should Attend

  • Chief Lending Officers
  • Loan Officers & Underwriters
  • Loan Processors
  • Member Service Representatives
  • Branch Managers
  • CEOs

Meet The Presenter:

Tim Harrington is a CPA who uses his knowledge, wit and unpretentious delivery to make a “boring, old tax course” very interesting and informative. Tim has trained loan officers how to transform tax returns to useful cash flow statements since 1992. He has provided training for hundreds of credit unions and tens of thousands of their staff and volunteers nationwide. He has spoken for all the national credit union organizations and NCUA, as well as for credit union leagues in forty-eight states. In addition, Tim is on the faculty of the CUNA CU Finance for 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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