Income and Assets in a Tech-Driven Economy (Gig Income and New Assets) (LMS)

Continuing advancements in technology have changed how we live our lives, how we earn money, and how we bank. While these changes have created opportunities and convenience, it also expands the income and asset sources beyond the sources covered in the HUD 4350.3. In this two-hour session, Amanda Lee Gross will provide valuable information on how to calculate gig income and how to treat peer-to-peer payment apps.

Gig Income

What is “Gig Income”? Companies like Uber, Lyft, and Upwork are providing workers the ability to earn income on their own terms. This can mean someone driving a few Uber routes a week, taking on a data entry job on Upwork, or f employment through one of the many freelance sites. This presents challenges for assisted housing compliance, as income may be sporadic, subject to change throughout the year, and include self-employment expenses.

Handling Income From Self-Employment

Verifying and calculating income from self-employment has always been challenging for HUD, Tax Credit and other assisted housing programs. Income in the Gig Economy is no exception to these challenges In this webinar, Amanda Lee will discuss the requirements on how to determine annual income from self-employment and how to document anticipated income from employment in this new economy.

• Determining Income from Self-Employment
• Units being Used for Business and business deduction
• Documenting Self-Employment Income (Including specific information for Uber, Lyft, Door Dash, Grubhub, Postmates, and more!)
• Review of IRS Tax Forms, (updated in 2020) 1040 & Schedule C.

Peer-to-Peer Payment Apps

With continued advances in technology, we are now living in the “Age of the App” which has created peer-to-peer payment apps, such as Venmo, Cash, Paypal, etc. The increased prevalence of these apps h spurred the following questions within our industry;

• Are these peer-to-peer treated as household assets?
• Are deposits made into the app treated as income?

In this session, Amanda will provide guidance on Peer-to-Peer Payments apps and will even discuss the treatment of cryptocurrency.

About the Income and Assets in a Tech-Driven Economy  (Gig Income and New Assets) Course

• Instructor: Amanda Lee Gross
• Type of Instruction: 90 Minute Video Presentation
• Quiz Type: One Quiz 
• Certification: 1.5 Hours of CEU
• Certificate Provided: Yes 
• Cost Per Person: $89.00
• Manual: PDF Manual Download 

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