Understanding Tax Returns

Monday June 4th

Fairway Independent Mortgage

180 Wells Avenue

Newton, MA

Wednesday September 19th

Century Bank

400 Mystic Avenue

Medford, MA

Cost :

$50 MMBA Members

$95 Non-Members

Print Registration Form

Understanding Self -Employed Borrowers/Tax Returns

Monday, June 4th

Fairway Independent Mortgage, Newton, MA

Program: 9:00 AM – Noon

Join Mary Ellen MacInnis in this comprehensive training session, you will learn how to review personal tax returns and schedules focusing on Sole Proprietor (Schedule C), unreimbursed expenses(2106), and rental properties(Schedule E); understand recurring vs. non-recurring loss; review Corporate, S Corp, and Partnership returns; increase efficiency in processing and underwriting self-employed borrower loans and understand documentation requirements, acceptable income and underwriting criteria.

Wednesday, September 19th

Century Bank, Medford, MA

Program: 9:00 AM –Noon

Enhance your understanding of self-employed borrowers and develop an understanding of the components of business tax returns. Allowable add-backs and required deductions will be discussed, and we’ll demonstrate how to calculate income from various business structures, introducing you to the Arch MI Tax Return Analysis Calculator (AMITRAC), the industry’s most user-friendly Schedule Analysis form.