Personal Tax Return Analysis
Description: Personal Tax Return Analysis is designed to teach students the basics of analyzing personal tax returns. The course begins with a discussion about analyzing personal tax returns to determine a projected income. Students will learn about income trends, recurring versus non-recurring income, and how tax returns can be used as a sales tool. By the end of the course students should be confident in analyzing personal tax returns.
Audience: Bank personnel who are in a position to use personal tax returns from clients for lending analysis.
Learning Objectives: After completing this course, students will be able to:
- Describe what constitutes a complete tax return and how to identify signs of fraud
- Identify income trends and non-recurring situations used in analysis
- Describe the areas on tax returns that can be used to identify cross-sell opportunities
- Analyze wage and tip income including the non-cash and pre-tax benefits associated with the source of income
- Analyze taxable and non-taxable interest and dividend income
- Describe and calculate the source of income information on Schedule C
- Explain and calculate capital gains and losses
- Differentiate the areas on Schedule E and calculate rental income
- Calculate limited partnership income