From time to time a person is asked to prove his or her income by producing tax returns. This is why tax preparation experts recommend holding on to tax returns for several years. But what if a person doesn’t have copies of his or her
If you’re in the process of applying for a mortgage, it’s likely you’ve been providing the underwriter with lots of documents. Mortgage companies typically ask for pay stubs, legal documents, and bank statements to verify your financial well-being. The mortgage underwriters may want more information
Banks have become more cautious than ever since the mortgage crisis, so they are no longer able to simply ask if a person has the ability to repay a loan. There are many people able to provide enough information without resorting to the bank asking
When you’re ready to apply for a business loan, there are many factors you need to be aware of. Applying for a business loan is easy but getting the loan approved can be difficult. While there are plenty of options when it comes to finding
When you apply for a mortgage, you’ll be asked for information by the lender. The mortgage company is taking a risk every time they loan money for a home purchase, and they need to ensure that they verify all the information that’s provided to them.
When you apply for a loan from a bank, you should expect them to ask you for verification of your income. Before the economic crash of 2008, it was easy to get a loan simply by self-certifying your income. Those days are long gone, and
You run your own business and find yourself in need of money for operating costs, inventory and payroll. A business loan may be the solution to giving your business the best chance to make it. Here are a few things that banks look for when
When you own a business, there are many important details that you must attend to. Taxes are one of the items that should top your list when it comes to following the rules. Filing business taxes incorrectly could create long-term problems with the Internal Revenue
Several places require proof of income for many different reasons. Income is important for determining your ability to pay back a loan, or in determining access to various health care insurance plans. Your income can impact your life in many different ways. Banks and rental companies
Self-employment income is the money someone earns when they work for themselves. People who are freelancers and solopreneurs are obligated to report their income to the government. If they don’t, they can be charged with tax evasion. There are various penalties and consequences if you