Self-employed people cannot take part in some activities without showing proof of their income, you can read more here, or visit this website to know more about these information. For instance, today, if you want to move into a new apartment, the real estate agents will ask you for proof of income, you can read more now on this homepage. Even the financial lending institutions in the field will ask for proof from any client requesting for loan. Therefore, even the self-employed people are affected and must provide a legit proof of their income to access various services in the field. In this article, you will learn some of the various ways you can use to show proof of your income.
You can use a bank statement. If you want to show proof of your income to any institution, one of the best things to use is the bank statement. If you are have been making deposits into your account whether self-employed, the bank as all the record of your account since it was opened. Therefore, if you want to rent an apartment or request loan from any financial institution, you can use your bank statement to show proof of income. Getting bank statement is easy, you can contact your banking service providers, or get it online via the bank’s app.
Use your tax return. All individuals residing in any state are required to comply with law that states that citizens are to file their tax return annually. The tax return shows individuals income for the whole years. Tax return document is one of the documents that is accepted in many institutions as proof of individual’s income. Therefore, if you want to borrow money from a lending facility, the other best document to use as proof of income is your tax returns. Getting your tax return document is easy, you can get it online from your portal at the revenue authority website. Be sure to click here for more info!
You can also use the pay stubs and W-2 if self-employed. Majority of people think that only individuals employed by the government should use pay stubs and W-2, but even the self-employed people can pay themselves using this system. Therefore, instead of filling out a 1099, or directing payments into your bank, you can pay yourself using W-2. After paying yourself using W-2, you can generate the pay stubs weekly or monthly. The documents you generate using the system will act as proof as your income. Get more info.