In my training workshops we call this "Canada to Mexico". This idea is for you if you find that you are getting lost in a sea of tax returns, every interruption means you have to
"Please send me a copy of your current guidelines for tax return analysis."<long pause>That is the typical response when, preparing for an onsite training on tax return analysis, I ask for written guidelines.Written Guidelines are
What a hoot! Kimberly Meyer with my office was just working with one of the lenders from a continuing client of ours. Cashmere Valley Bank has been sending lenders to our open-enrollment Tax Return Analysis
Desperate for more qualifying income? Do you go flipping the pages of the tax return to see if there is more income, anything at all, you didn't notice the first time? Ah! Schedule SE has
Wouldn't it be great if you had this guy to warn you? "Stop...these are fraudulent documents!" CPAs, in planning their audits, consider the risk of fraud with a variation on these three questions: Is the
I just sent out my monthly Lender's Q&A answering this question from a lender: "Why are tax returns and financial statements for the same year sometimes so different?" {If you want info on
Interesting question...and one I cannot answer definitively here. Check with your guidelines. Talk with a senior lender. I can tell you what I find is common from talking with lenders in my tax return analysis
"Here is my tax return but let me tell you what I really make." At this point, many lenders want to put their hands over their ears and say "I can't hear you!" Why? Because
In a recent AICPA (American Institute of CPAs) survey, CPAs were asked what they think the major source of the tax gap is. The tax gap is the estimate of the shortfall of revenue collected
In my tax return analysis workshops I ask the lenders for common adjustments to get them from taxable income to recurring cashflow to pay debts. The first one mentioned - and the loudest - depreciation.
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