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Feb 4th

How to Show Proof of Your Income

Self-employed people cannot take part in some activities without showing proof of their income, you can read more here, or visit this website to know more about these information. 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. These are some of the various ways one can use to show proof of income.

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Bank statement. One way you can use to show proof of income is by the use of 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. Getting bank statement is easy, you can contact your banking service providers, or get it online via the bank’s app.

Secondly, you can use your tax return slip to show proof of your income. 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.

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Also, you can use pay stubs and W-2 to pay yourself if self-employed, and use the records as proof of income. 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. 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.

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