Maybe you need to rent an apartment? Perhaps you need a new car? Whatever the case may be, you need to show proof of income.
What you’re wondering is: how do you show such proof? What documents do you need? There are a few you can use, including the following.
Tax Returns
The best way to show proof of income is to use your tax returns. Tax returns are entirely verifiable and are therefore taken as the most reliable proof there is.
Some instances (like getting a lease to an apartment) require just the latest year’s tax return. Other instances (like getting a home) can take the last 2 years’ tax returns.
Just ask the official how many tax returns he or she would like to see. Then, print out copies for him or her to peruse.
Bank Statements
In many cases, you can use bank statements in order to show your income. For instance, if you’re renting an apartment, you can usually prove your income by providing statements from the last 2 or 3 months.
Just make sure that your statements account for all of your income. Set up a direct deposit and ensure that all cash is flowing to the same account.
Paystubs
If you’re self-employed, paystubs can be used to show proof of employment. You can use paystubs to apply for a car loan, to apply for a personal loan, to get a mortgage, and much more.
There are all sorts of programs out there that you can use to help make paystubs for yourself. Create paystubs on a weekly or bi-weekly basis and have them ready to be shown as needed.
Letter of Employment
Many officials will allow you to submit a letter of employment as proof of income. This is essentially just a letter from your boss stating that you do, indeed, make the amount of money that you say you do.
To get one of these letters, quite simply ask for one. Any decent boss will provide you with one gladly.
Disability Insurance
If you get income from disability insurance, you can usually use proof of this insurance to help get yourself a car or an apartment. The exact documentation you’ll need is dependent on the official you’re speaking with. Just know that it is usually a possibility and is something worth considering.
Proof of Alimony/Child Support
You can also use proof of alimony or child support as a means of securing an apartment, vehicle, or other entity. Again, the specific documentation you’ll need is dependent on the official with whom you’re speaking.
There Are Plenty of Ways to Show Proof of Income
In truth, showing proof of income is fairly easy. All you have to do is find some of the documents reviewed above and get them in print. As long as you meet the income requirements for the entity that you’re purchasing, you will be good to go.
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