How to Provide Evidence of Your Income
If you are self-employed, there are some things that you cannot do without showing proof of your income, click here to learn more. For instance, if you want to rent new apartment, some real estate firms will insist of having your proof of income, read more now, or click this page. Even the financial lending institutions in the field will ask for proof from any client requesting for loan. Therefore, even if you are self-employed, you must find ways to show proof of income to gain access to various services in the market. These are some of the various ways one can use to show proof of income.
First, you can show proof of your income by the use of 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. 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 returns shows a person’s earnings for the whole year. So, the tax return document is one of the legal things one can use to show proof of income. For that reason, do not worry if you want to borrow a loan from any lending institution an asked for proof income, use your tax return paper. To get your tax return document, download it from your portal at the revenue authority website.
The easy way you can use to show proof of your income is by paying yourself if self-employed using pay stubs and W-2. 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.