No Pay Stub? How to Show Proof of Income Without Pay Stubs
Applying for an apartment sure is exciting until you realize that one of the requirements is proving income through pay stubs.
What if you operate a successful business of your own and don’t have any pay stubs?
If you are wondering how to show proof of income without pay stubs, you have options. There are actually several great ways you can do this but it may take a little extra work to do so.
As you’re preparing to go fill out the apartment rental application, you might want to consider using the following methods as they can help you prove your income.
You Could Supply Business Records
Creating a basic profit and loss statement is a great option you have for proving income from your self-employment.
This statement lists the income you earned for a period of time, such as a month, and then lists all the expenses for the month. The difference between these two amounts is your business income for the period.
Printing off monthly profit and loss statements for the last year will show that your company is profitable and will reveal the exact amount of profit you earned each month.
If you currently do not print these statements for your business, you should start. Not only will they be helpful to have when renting an apartment, but they will also come in handy when applying for any type of loan.
While you’re working on printing financial statements, you could also consider printing your own pay stubs through a paystub generator. This is a great way to have pay stubs when you need them, and it’s an easy method to use.
You Could Print Bank Statements
It is also quite easy to prove your income by submitting bank statements. Your bank statements will show the money coming in each month as well as the money spent.
These statements will also show how much money you normally have just sitting in your account. On top of that, they will show if you manage your money well or not.
You Could Show Your Tax Returns
Turning in your tax returns is also a great way to prove your income when you do not have pay stubs. In fact, providing a copy of the last two years of tax returns will also show stability with your small business.
If you have two years of tax returns, it not only shows the money you earned from the business but will also show that you have a reliable source of income coming in.
How to Show Proof of Income Without Pay Stubs Is Not Hard With These Methods
As you consider all the methods listed here, you should have no problem finding enough documentation to prove your income, especially if you decide to print your own pay stubs.
Check out our blog for more tips on challenges you might face if you’re self-employed.
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