2024 Tax Form Overview
What changed in the 2024 tax forms? How do I read the forms to better understand my borrowers income?
Business Ownership
K1 Business Income
1120 Income
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Master 2024 Tax Returns
Unlock the secrets to accurately analyzing 2024 tax returns and streamline your underwriting process with our comprehensive webinar. Whether you’re a seasoned underwriter or new to the field, this session provides essential insights into navigating the complexities of tax documents and ensuring precise income calculations.
What You’ll Learn:
- Key Updates for 2024: Understand the latest changes and consistencies in tax forms, debunk common myths about tax return complexity, and focus on what truly matters for underwriting.
- Dates and Deadlines: Learn crucial dates for using 2024 tax returns, including application date considerations and extension rules, ensuring you stay compliant with Fannie, Freddie, FHA, VA, and USDA guidelines.
- Navigating Tax Forms: Demystify the 1040 form, Schedule 1, and other supporting documents like Schedules A-F, and understand how they point to various income types.
- Self-Employment Income: Dive deep into Schedule C (Sole Proprietorship), Schedule E (Rental, K1s), and Schedule F (Farm Income). Learn how to identify and verify income from these sources, including detailed guidance on K1 tracking and 1120 Corporations.
- W2, Dividends, and Interest: Understand the nuances of W2 wages, dividends, and interest income, and how tax returns act as pointers rather than complete income documents.
- Practical Tools and Insights: Get a glimpse of Income Expert, our software solution designed to simplify income analysis, automate calculations, and provide rep and warranted accurate results.
Why You Should Watch
- Gain Confidence: Overcome the challenges of tax return analysis and make informed decisions with clear, actionable knowledge.
- Stay Compliant: Ensure you adhere to the latest guidelines and avoid potential audit issues with up-to-date information.
- Increase Efficiency: Learn how to quickly identify and verify income sources, saving time and improving your underwriting workflow.
- Maximize Income Opportunities: Discover potential income enhancements for borrowers by understanding the details within tax documents.
- Expert Insights: Benefit from 30 years of underwriting experience and learn from real-world scenarios and practical tips.
Level Up
Don’t miss this opportunity to enhance your skills and streamline your income analysis process. Request access to the recorded webinar now and take your underwriting expertise to the next level!
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Testimonial
I like that it is very user-friendly, especially with the aspect of changing calculation methods accordingly, per loan product type. It is nearly impossible to do an incorrect income calc with this software!
It’s a great product, and provides so much relief in underwriting.
User Friendly, And graphical representation make simple to understand.
I love that it consistently updates to the changes in rules and regulations for representatives. I love that I know that my income calculations will be the same no matter who on our team calculates it. That consistency is vital to fair lending, compliance and overall a strong loan portfolio!
It is very easy to calculate the income on Blueprint and the beautiful thing is you will get a detailed report generated which you and further review.
Everything about the software is awesome! Ever since I became a user back in 2016, my income calculations have gotten better, and my understanding of income has improved. I would recommend this program to any mortgage company, loan officer, or loan processor.