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How to Show Proof of Income for the Self Employed

Self employed individuals who run their own business can do whatever they want. There is nobody to work for but yourself and you can even dictate how much you want to work and how much salary you want to give yourself. But it has its own drawbacks. When applying for a loan or a credit card, you need to show proof of income which are not able to do. Instead of showing your entire bank account to prove your income, it is better to have your own pay slip instead.

If you are a regular employee of a company, you receive a payslip each time you receive your paycheck. Your employer uses a template to document how many hours you have worked, your gross salary, and how much you were paid after all your deductions were paid. For self employed people, there is nobody else who know how much income you earned except yourself and this makes it difficult t prove to the bank your income when applying for a loan. But, if you use a template to create your own payslip complete with all of the appropriate tax deductions, you will have real proof of income. You can create a complete pay stub with your company name and address on it just like the one you would receive if you were working for an employer. If you do this on a weekly basis then you can then have proof income whenever you need it. Even if you do not actually write yourself a paycheck every week, you should still make sure that you have some proof of income available.

If you are looking for a pay slip template you can look for it in any local office supply store and the library. Another way of searching for pay slip templates is from online sources since being a business person would make you use your computer to track your finances. You can search online for different types of pay slips available, then choose the one that has all the features that you need. With you chosen template you can create your own pay slip together with your employees which covers all information about gross pay, taxes, deductions and the net pay. If you need to show proof of your income for a loan, then you can simply show all the pay slips that you have made for yourself through the weeks.

Through online templates, you will be able to provide some proof of your income if you are self employed and use it for whatever purpose your need it.

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