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Posted by on 25. 2. 2021

How to Show Proof 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 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. 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. Accessing your bank statement is not difficult, you can get a print one from your banking service provider, or download online from the bank’s website or app.

Another important document you can use to show proof of income is your tax return. Each year, all the citizens of different states are required to file the 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. 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 using W-2, it is possible to generate pay stubs weekly or monthly. So, the documents you will get from this system can act as your proof on income when needed by your lending institution, or real estate agent.

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