The Expense Statement must be prepared, signed, and dated by an American based, third-party Tax Professional (defined as a CPA, Tax Attorney Enrolled Agent (EA), or Paid Tax Professional (PTIN), specifying business expenses as a percentage of the gross annual sales/revenue prepared.
The statement must be provided o the Tax Professional's letterhead addressed to me, and must not contain any exculpatory language that may compromise the integrity of the information provided. Reverse verification and validation of the statement will be completed by the lender for the purpose of a Bank Statement Loan.
Net income from the Expense Statement is calculated by determining total deposits per bank statements (minus any disallowed deposits) multiplied by 100 minus the expense percentage provided by CPA or tax preparer, multiplied by the borrower's ownership percentage, and divided by 12 months.
Ideal Expertise And Skills:
- Certified Public Accountant (CPA)
- Enrolled Agent (EA)
- PTIN Holders
Please note that you'll not only be providing a critical service by organizing and validating these expenses, but your professional credibility is especially relevant in this instance for bank requirements. Experience in similar projects would be highly appreciated.