BEGIN:VCALENDAR VERSION:2.0 METHOD:PUBLISH PRODID:-//ddaysoftware.com//NONSGML DDay.iCal 1.0//EN BEGIN:VTIMEZONE TZID:Eastern Standard Time BEGIN:STANDARD DTSTART;VALUE=DATE:18000101 RRULE:FREQ=YEARLY;BYDAY=SU;BYHOUR=2;BYMINUTE=0;BYMONTH=10;BYMONTHDAY=25,26, 27,28,29,30,31 TZOFFSETFROM:-0400 TZOFFSETTO:-0500 END:STANDARD BEGIN:DAYLIGHT DTSTART;VALUE=DATE:18000101 RRULE:FREQ=YEARLY;BYDAY=SU;BYHOUR=2;BYMINUTE=0;BYMONTH=4;BYMONTHDAY=1,2,3,4 ,5,6,7 TZOFFSETFROM:-0500 TZOFFSETTO:-0400 END:DAYLIGHT BEGIN:STANDARD DTSTART;VALUE=DATE:20070101 RRULE:FREQ=YEARLY;BYDAY=SU;BYHOUR=2;BYMINUTE=0;BYMONTH=11;BYMONTHDAY=1,2,3, 4,5,6,7 TZOFFSETFROM:-0400 TZOFFSETTO:-0500 END:STANDARD BEGIN:DAYLIGHT DTSTART;VALUE=DATE:20070101 RRULE:FREQ=YEARLY;BYDAY=SU;BYHOUR=2;BYMINUTE=0;BYMONTH=3;BYMONTHDAY=8,9,10, 11,12,13,14 TZOFFSETFROM:-0500 TZOFFSETTO:-0400 END:DAYLIGHT END:VTIMEZONE BEGIN:VEVENT DESCRIPTION:Qualifying Borrowers Using Personal Tax Returns Part 1: Basics\ , Itemized Deductions\, Interest &\; Dividend Income\, Sole Proprietors hips &\; Capital Gains How do you verify a borrower’s income from a tax return? Many people take AGI and add back depreciation. That might be rig ht\, but even a broken watch is right twice a day. Extracting cash flow fr om a personal tax return is much more detailed than that. This session wil l teach you how to read and understand a borrower’s tax return and convert taxable income into cash flow. Loans are paid with cash flow\, which rare ly matches a borrower’s taxable income. We will start with the basic incom es\, then move to interest and dividend income (Schedule B)\, sole proprie tor income (Schedule C)\, gains or losses on sales (Schedule D) and instal lment sale income (Forms 6252 and 4797). Overestimating income from a tax return can lead you to approve a weak loan that could eventually cost you tens of thousands of dollars. Underestimating income can lead you to deny good loans you need to grant in this tough economy. This seminar will make the process of analyzing personal income tax returns simple and understan dable by using quality instruction and frequent examples. HIGHLIGHTS Diggi ng through a return’s front page to segregate real cash flow from phony ta xable income Interest and Dividends: Separating recurring and non-recurrin g forms of interest and dividend income Identifying and removing “phantom” interest and dividends that passed through from partnerships or S Corps. Sole Proprietorships: Recognize 4 forms of hidden income and 1 hidden expe nse Capital Gains: Income that may (or may not) be received in future year s Forms 6252 and 4797: Picking up hidden income from installment sales TAK E-AWAY TOOLKIT Lenders Tax Analyzer© allows lending professionals to obtai n a borrower's real cash flow from a Form 1040\, including income from ren tals\, self-employment\, farms\, partnerships\, S Corporations\, investmen ts\, etc. Three tax years are all linked on one report. WHO SHOULD ATTEND? This informative session is designed for anyone in the lending area inclu ding chief lending officers\, MSRs\, sales staff\, brokerage staff\, new a ccounts personnel\, loan officers\, loan underwriters\, credit analysts\, loan processors\, branch managers\, CEOs\, and other key lending staff. DO N’T MISS PART 2! This program is the first of two in a series. Watch for “ Understanding Borrowers’ Tax Returns\, Part 2: Income from Rentals\, Royal ties\, Partnerships\, S Corps &\; Farms” on Wednesday\, February 20\, 2 013. ABOUT THE PRESENTER – Tim Harrington\, CPA\, TEAM Resources Tim Harri ngton is a Certified Public Accountant who specializes in working with com munity financial institutions. Since 1996\, Tim has been President of TEAM Resources\, a firm which provides consulting\, strategic planning\, and t raining from coast-to-coast. A presenter at over 1\,000 financial conferen ces\, seminars and webinars\, Tim has provided consulting and training for hundreds of community financial institutions in nearly every state and fo ur countries. Tim advises boards and senior management teams on strategy\, profitability\, and governance and works with staff on leadership and len ding. In addition\, he is a faculty member of three financial institution schools and is the author of the popular lending software “Lenders Tax Ana lyzer” and has taught lending personnel how to obtain monthly income from tax returns since 1992. PLEASE NOTE: Your registration fee allows you to h ave one telephone connection. However\, as many people as you like may lis ten from your office speaker phone. If you register for the webinar\, your registration fee also includes one internet connection from a single comp uter terminal. THREE REGISTRATION OPTIONS 1. LIVE WEBINAR The LIVE WEBINAR option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view onli ne visuals as the presentation is delivered. You may have as many people a s you like listen from your office speaker phone. Registrants receive a to ll-free number and pass code that will allow entrance to the seminar. The session will be approximately 90 minutes\, including question and answer s essions. Seminar materials\, including instructions\, pin number\, and han douts will be emailed to you prior to the broadcast. You will need the mos t current version of Adobe Reader available free at www.adobe.com. 2. ON-D EMAND WEB LINK** AND FREE CD ROM* Can't attend the live webinar? The ON-DE MAND WEB LINK** is a recording of the live event including audio\, visuals \, and handouts. We even provide the presenter's email address so you may ask follow-up questions. Approximately 1 week prior to the webinar\, you w ill receive an email with the web link. This web link can be viewed anytim e 24/7\, beginning 6 business days AFTER the webinar and will expire 6 mon ths after the live program date. But there's more . . . AS AN ADDED BONUS\ , you will also receive a FREE audio/visual CD ROM.* The CD ROM includes t he original audio/visual presentation\, the question and answer sessions\, and the handouts. Use the on-demand link or this "off-the-shelf" training program for those that could not attend the live seminar and for future t raining. 3. BOTH LIVE WEBINAR AND ON-DEMAND WEB LINK** (INCLUDES FREE CD-R OM*) Includes options 1 and 2 above *CD Rom for PC use only **All material s are subject to copyright and intended for your credit union's use only. NEW! Listen on your iPad\, iPhone\, or Android. Instructions will be email ed to you with the on-demand link. INVESTMENT: $199.00 Webinar per connect ion $199.00 Archived On-Demand Web Link &\; Free CD ROM $249.00 Both Li ve Webinar &\; Archived On-Demand Web Link &\; Free CD ROM TIME: 3:0 0 p.m. - 4:30 p.m. To register and pay by check\, email Mary Zelinsky at m zelinsky@njcul.org and your credit union will be invoiced. To register and pay online\, click here. DTEND;TZID=Eastern Standard Time:20130123T163000 DTSTAMP:20130519T092437 DTSTART;TZID=Eastern Standard Time:20130123T150000 LOCATION: SEQUENCE:0 SUMMARY:> Webinar: Qualifying Borrowers Using Personal Tax Returns Part 1 UID:405189a4-fdd4-4f6e-a5a9-a3ba4b12c86b URL:http://www.njcul.org/-webinar-qualifying-borrowers-using-personal-tax-r eturns-part-1-2013-01-23.aspx END:VEVENT END:VCALENDAR