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<br />04/01/15 Page 7-17 <br /> <br />PART III. VERIFYING INCOME AND ASSETS <br /> <br />Chapter 6, Part I of this plan describes in detail the types of income that are included and <br />excluded and how assets and income from assets are handled. Any assets and income reported by <br />the family must be verified. This part provides PHA policies that supplement the general <br />verification procedures specified in Part I of this chapter. <br />7-III.A. EARNED INCOME <br />Tips <br /> SAHA Policy <br />Unless tip income is included in a family member’s W-2 by the employer, persons who <br />work in industries where tips are standard will be required to sign a certified estimate of <br />tips received for the prior year and tips anticipated to be received in the coming year. <br />Wages <br /> SAHA Policy <br />For wages other than tips, the family must provide originals for past six months of <br />consecutive pay stubs or whatever is applicable for initial eligibility and three months <br />consecutive pay stubs or whatever is applicable for reexaminations. <br /> <br />7-III.B. BUSINESS AND SELF-EMPLOYMENT INCOME <br /> SAHA Policy <br />Business owners and self-employed persons will be required to provide: <br />An audited previous fiscal year financial statement, if an audit was not conducted, <br />a statement of income and expenses must be submitted and the business owner or <br />self-employed person must certify to its accuracy <br />All schedules completed for filing federal and local taxes in the preceding year. <br />If accelerated depreciation was used on the tax return or financial statement, an <br />accountant's calculation of depreciation expense, computed using straight-line <br />depreciation rules. <br />SAHA will provide a format for any person who is unable to provide such a <br />statement to record income and expenses for the coming year. The business <br />owner/self-employed person will be required to submit the information requested <br />and to certify to its accuracy at all future reexaminations. <br />At any reexamination SAHA may request documents that support submitted <br />financial statements such as manifests, appointment books, cash books, or bank <br />statements. <br />5-33