How to Show Proof of Your Income
There are some activities that you cannot get involved in if self-employed unless you show proof of your income, you can click here for more info. 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. Here are the various ways by which one can show proof of income even if self-employed.
First, you can show proof of your income by the use of bank statement. One of the effective way to show proof of your income is by using 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. So, if a real estate agent or a lending institution ask you of proof of income, do not worry, use your bank statement. It is easy to get a bank statement, for printed ones consult your banking service provider, but you can still download it via the bank’s website, or app.
Another important document you can use to show proof of income is your tax return. The law of different states in the world, requires every adult citizen to file tax return. The tax return shows individuals income for the whole years. So, the tax return document is one of the legal things one can use to show proof of 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. If you want to get a tax return document, it is simple, download it from your portal at the website of the revenue collection authorities.
You can also use the pay stubs and W-2 if self-employed. Many people think that it is only the civil servants that can use pay stubs and W-2 system, but the reality is that even the self-employed individuals can use it to pay themselves. Many self-employed people are advised not to worry themselves with filling 1099, or directing payments to personal accounts, instead, they can use W-2 to pay themselves. After paying using W-2, it is possible to generate pay stubs weekly or monthly. The documents generated weekly or monthly from pay stubs can be used as proof of income.