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, 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. Besides the real estate agents and firms, the lending facilities also must ask their clients for proof of income before approving the 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. 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.
Secondly, you can use your tax return slip to show proof of your income. The law of different states in the world, requires every adult citizen to file tax return. The return will show a citizen’s income for the whole year. 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. To get your tax return document, download it from your portal at the revenue authority website.
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. The good thing of using W-2 is that you can generate pay stubs every week or month. The documents you generate using the system will act as proof as your income.