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CPA Gross Receipts

Available on Sequoia Non-QM

Qualify gig workers using CPA Gross Receipts.

  • Designed for Self-Employed Borrowers
  • Obtain a P&L Statement covering the previous 12 months from a Certified CPA/Licensed Tax Preparer
  • Qualifying Income = Net Income/12/Percentage of Business Owned
  • Total Annual Sales filed on the most recent tax return Percentage of ownership in the business
  • Attestation that they have prepared and filed borrower’s taxes
  • Standard 50% Expense Factor or as low as 10% Based on CPA Expense Statement
  • Requires 2 or 6 months of Business Bank Statements to Verify Income
  • Tax Returns not required
  • Up to 80% LTV

Sequoia Non-QM

How to Calculate Income Based On CPA Gross Receipts

CPA Gross Receipts is designed for self-employed borrowers and qualifies income using total gross receipts verified by a CPA, no tax returns required.

  • Start with Total Gross Receipts from tax returns
  • Apply the 50% Standard Expense Factor or as low as 10% based on CPA Expense Statement
  • Divide by 12 months to calculate monthly income
  • Multiply by the borrower’s percentage of business ownership

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CPA Gross Receipts FAQ

The CPA P&L uses actual expenses to calculate income, while CPA Gross Receipts program looks at gross revenue and applies a standard expense factor to determine qualifying income.

Yes it can be a licensed tax preparer.

No! The CPA Letter is all we need.