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, 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. 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 if you are self-employed, you must find ways to show proof of income to gain access to various services in the market. 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. One of the effective way to show proof of your income is by using bank statement. Even if you are not employed by the state authorities, if you have been saving some money from in your account, the bank has all the records to act as proof of all the transactions. 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.
Use your tax return. Each year, all the citizens of different states are required to file the 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. So, in case you want to borrow money from any institution, one of the best document to use as the proof of income is tax return paper. 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. 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. It is advisable that instead of taking time filling out 1099, or directing payments to your bank account, it is better to pay yourself using W-2. After paying yourself using W-2, you can generate the 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.