How to prove your income when you work remotely? ?
Hello! I will be moving apartments in September/October. Since I have last moved four years ago, I have switched jobs and no longer get a paycheck. I work mainly online as a tutor and do not really have proof of income. What do you bring to show landlords you are working?
- KateLv 73 weeks ago
Don't you keep records?At the very least you need to have a spreadsheet showing dates, job details, client, amount paid, any expenses. If you are working online then I assume the clients pay into bank account so you should also have printable bank statements.
- SlickterpLv 73 weeks ago
Surely people pay you and you can show money coming in and out, etc. Or your tax returns.
- Coffee DrinkerLv 73 weeks ago
If you're in the USA you are considered self employed. You are required to keep business records and file a tax return reporting the income and paying any applicable income tax or self employment tax owed.
If this is your first year in this business, then show landlords copies of your business records and bank statements showing the steady deposits you are recieving as your clients pay you.
If you have been doing this since last year, then you can also show them a copy of your tax transcript or completed tax returns proving that you reported the income to the IRS and paid whatever tax you legally owe.
If you have not been keeping records or paying your taxes, then you should focus on getting caught up on those legal obligations before you worry about finding a new apartment.
You can't evade taxes by working under the table AND use that under the table income to qualify for things like apartments or bank loans.
- curtisports2Lv 73 weeks ago
Income tax returns. If you are not filing tax returns, then one of two things is happening.
1. You are not reporting income as required and you are guilty of income tax evasion. You may not be earning enough to have to file an income tax return, but if you earn more than $400, you are required to file a self employment tax return and pay Social Security and Medicare taxes.
2. If you don't earn enough to have to file an income tax return, you don't earn enough to satisfy a landlord's monthly income requirement of three to four times the rent.
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- Christin KLv 73 weeks ago
Keep records--give everyone you charge a receipt, use a ledger or spreadsheet to track your income and make sure you invoice everyone either on paper or digitally. You should be able to translate all this into a bookkeeping program such as QuickBooks or some other tax program where you keep an accounting.
- JudyLv 73 weeks ago
Your tax return
- Anonymous3 weeks ago
Explain the situation to the potential landlord and they'll tell you.
- R PLv 73 weeks ago
If you are in the USA, you can show your tax returns as proof of income.
- Anonymous3 weeks ago
Your tax returns are your proof of income.
If you have been committing the crime of tax evasion by not reporting your income and paying the appropriate tax, then on paper you have no income. No apartments or car loans for tax cheats.
It's not too late to file your tax returns for the past several years - or to file amended tax returns that show the correct amount of income. Of course you'll have to pay the tax you owe. Plus penalties and interest. Self-employment tax is 15.3% on every dollar of profit above $400 in a calendar year. Plus any income tax owed.
- ScottLv 63 weeks ago
You could show them your paystub’s or direct deposit information.