We wrap up week one of class with a recap of the foundational online modules:
Green Legos, Six Ns and a Map to Tax Return Analysis
Cash versus Accrual (and why it matters in tax return analysis)
Debt, Debt Ratios and Debt Shortcut
And Linda covers how to find information fast from the IRS.gov website.
Mid-way through the Tax Return Analysis Class we are ready for the business tax returns modules. In this week's lesson we will run through a 30 page 1040 and decide which pages we can completely ignore. BONUS: My technique to tag the pages in such a way that I don't keep looking at them. But don't miss important forms and schedules along the way...
Half-way through the online modules on 1040 Analysis, we pause to run through how to use the Excel-Based Cashflow Worksheet including AGI and SAM approach and how to create copies of individual worksheets when the borrower has more than on Schedule C, for example.
We are down to the last two weeks of the class and cover the walk-thru of the corporate return case study completed this week. Also, we begin to answer the question: Are Guaranteed Payments really guaranteed?