Tax Credit tool???

Has anyone developed a really good program (or Excel Macro) that can be used to calculate annual income that they would be willing to share?


Ideally, I would like to be able to input the pay rate, the units the pay is based on (whether it is monthly, weekly, daily, or hourly), how many hours they work (if income is anything but monthly or weekly), and how many pay periods they have per year as follows:

Let's say an applicant has 3 sources of income to calculate:

1) Person A has monthly SSI/disablity income of $x, and is paid monthly ( 12 * x )
2) Person B has an hourly income of $z, works y hours, and is paid weekly ( 52 * z * y)
3) Person C has income for babysitting and is paid $100 every 2 weeks ( 26 * 2 * $100)

Income for the household would be (12 * x) + (52 * z * y) + ( 26 * 2 * 100).

I do not like reinventing the wheel if someone else has something they would be willing/able to share

Hi Johnny!
Great topic for those of us managing tax credit communities! I have been a community manager for the past 8 years at a community with 240 units 100% tax credit I would suggest that you use a calculation worksheet for each individual verification. In my experience this helps the auditor follow each verification individually instead of one showing them all combined. (again that is just my experience)
Yes I have a calculation worksheet that I think you may find helpful...send me your e-mail address.

What I would like to see is the worksheet that shows the math... I know, tax credit has a lot to do with what can be proven; I joke that I feel like I am back in math class; with the teacher asking us to show/prove the work......

I would like to see what you are working with. Email me directly at [email protected]

What is your email address and I will email you one that our Compliance Department girls came up with. It is very simple and I use it for everything-Childsupport,SSI,Gifts,House Income,Grant Money ( Section 8 people only) etc...

or you could just email me at [email protected] if you dont want to post it for everyone to see.

Jolene

I appreciate the help. My email address is posted in one of the messages on this thread already... Not a big deal to post again.... [email protected].... Please use 'Tax Credit tool' in the subject line...