Calculating Income For Union or Skilled Trades
Determining income for union workers comes with unique challenges. Unlike conventional employment, these workers typically take on a series of short-term assignments. They don’t job-hop in the traditional sense; rather, they’re dispatched by their union halls to work on projects, moving from one to the next as assignments are completed. You’ll commonly see electricians, welders, […]
How to determine variable income
Variable income is the leading cause of income calculation issues for most lenders. Variable income is generally categorized into the following classes as outlined in the guidelines: overtime, bonus, commission, tips, and base pay when the base is variable. Variability in base pay typically occurs when it depends on hours worked each week, the amount […]