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Income & Assets in Today's Tech-Driven Economy

Working with New Income and Asset Sources

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.

Gig Income

What is “Gig Income”? Companies like Uber, Lyft, and Upwork provide 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 full-time 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 have 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 touch upon cryptocurrency.

Learn to Conquer Compliance

These new sources of income and assets will require new policies and procedures. As well as a new way of thinking about verifying income. In this session, attendees will receive:

  • A certificate of attendance
  • A content-rich PDF manual
  • Interactive webinar training where you can ask questions and participate in knowledge checks
View On-Demand

View On-Demand 120 Min Webinar - $75 Per Person

At all of our compliance webinars, attendees will receive more just world-class training. You will also receive the best training materials in the industry and a lively and interactive training environment. This includes,

• A certificate of attendance
• A content-rich PDF manual
• Knowledge checks and polls, and an interactive presentation

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