The economy is changing, and calculating income for affordable housing projects is growing increasingly challenging. As the popularity of convenient rideshare and food delivery apps flourishes, more and more of our residents and applicants are taking advantage of the “gig economy” to provide for their families. While site staff members are learning to navigate the many potential verification sources and calculation methods for these “new” types of income, many are still a bit confused about how to calculate more “traditional” types of income. Though the HUD Handbook 4350.3 REV-1 Change 4 provides insight, it can still be difficult to come up with the most accurate projection of a household’s annual income.
NCHM’s special Advanced Income webinar will clarify how to approach the more complicated sources of non-asset income. Combining real-world experience with fresh examples, the instructor will guide the class through the grey areas of income calculation. We will discuss self-employment, special employment pay types, child support and alimony, medical payments, and asset/lump sum pay-outs.
Designed for experts and for brand new employees, Advanced Income is a fantastic resource for either a refresher or an introduction to the most appropriate methods of calculating annual income.