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Different Documents You to Use as Proof of Income for the Self-Employed Individuals

You should show you have a stable source of income when signing the rental agreement or applying for a loan. The purpose of the proof of income is to show you have a source of money to pay the rent or pay back the loan. You can use a letter from the employer or your monthly payslips if you have a formal job. It may, however, be challenging to do this when you are self-employed. You need to find resources that will recommend other ways for the self-employed people to show proof of income. Continue reading this blog to see different ways to show proof of income when you are self-employed.

To show proof of revenue when you are an entrepreneur, you can print your company’s profit and loss reports. One popular form of self-employment is by having a business. Therefore, as the business owner, you are entitled to receive all profits. Hence the profit and loss statement is one of the documents you can use as proof of income when you are self-employed. All you need is to have accurate and up-to-date profit and loss statements. The goal is to have a comprehensive statement that shows the business revenue, expenses, and what you get as profit.

You can also use bank statements as proof of income when applying for a loan or planning to rent an apartment. Maybe you do freelance work, and your clients pay you through your bank. Hence, you have a bank account that shows different payments you received in a given period. Hence, you can visit your bank and request an account statement that you will present to the property owner when signing the rental agreement.

The other option for proving income when you are self-employed is by making the payslip yourself. Maybe you are unwilling to give out your bank statements when renting an apartment. If you are facing this challenge, you should seek resources on other ways you can prove income. It is, therefore, wise you search for an online platform you can use for generating the pay stubs. You will aim to find an easy to use tool for creating personal pay stubs. The idea is to use this online platform to input your cash income and produce the payslip. Hence, you need to learn the essentials to help you determine the top website to use for creating the personal pay stubs.

It is therefore wise you carefully review the above documents that you can use as proof of income when you are self-employed to decide the one to use. Always go for the documents that are easy to use and applicable for you.

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