2025 Tax Returns Analysis: Business & Personal

Tax Returns Analysis: Business & Personal 

This one-day seminar is designed to strengthen your ability to analyze personal and business tax returns within a simple, logical and consistent framework.  It provides the tools needed to reduce large amounts of financial information into a concise, relevant picture of cash flow or an assessment of an individual's financial strength as guarantor of a business loan, or business itself.

INSTRUCTOR:

Richard Hamm
Advantage Consulting & Training

Personal Tax Returns learning goals include:

• The limitations of a personal financial statement (PFS) and why more information (often tax returns) is needed
• Why personal tax returns can be difficult to analyze and how to target relevant information consistently
• Understand the spectrum of situations and linking resources and types of income to the primary tax return schedules
• A simple cash flow approach using worksheets and cases
• Simple case with owner of small, sole proprietorship, focus on Form 1040 and other basic forms
• More complex case with business owner and related Schedule K-1s and capital gain
• The concept of global cash flow and its pros and cons
• How to uncover cross-selling opportunities from personal tax returns

Business Tax Returns learning goals include:

• Business financial statement and tax returns analysis options and tools, plus the basic structure and purposes of financial statements and tax returns
• Introduction to the three methods of business accounting with a focus on comparing and contrasting the cash method and accrual method of accounting
• Construct a business tax return balance sheet (Schedule L), income statement and Schedule M-1 on the cash basis for an example business (case)
• Identify the role and function of Schedule K-1, plus differentiate between income/expense and actual cash flow from the business to its owners
• Map a business tax return to the internal financial statement of a business
• Calculate a group of financial ratios from a business tax return
• Brief overview of the Form 8825 as the dominant tax schedule for investment real estate, plus developing capital expenditures, if any, from the balance sheet (Schedule L)
  
  
  

ABOUT OUR INSTRUCTOR:
Richard Hamm has been training bankers for more than 30 years, including both creating and teaching courses for the American Bankers Association (ABA) and the Risk Management Association (RMA), plus regional banking schools (Graduate School of Banking – Wisconsin, Graduate School of Banking at Colorado, Southwestern Graduate School of Banking and Barret School of Banking – Memphis), numerous state banking and community banking associations and individual banks.