Often they ask for proof of income when a procedure is carried out, such as applying for a loan, when renting an apartment, or if you decide to purchase insurance for your car.
Hence the importance of knowing what it means to have proof of income as well as how this document can be obtained.
What is proof of income?
Proof of income is the document used to prove that your bearer or holder has biweekly, monthly, and even temporary income (provided by a third party for whom you work), or by yourself if you are a self-employed worker.
A proof of income confirms the financial capacity of the person who submits it to any institution to carry out a specific procedure. An example may be when you need to ask for a loan from a bank, or when you apply for a credit card.
In both cases, it is necessary for the financial services company to know the level of income that the interested party receives per month, the proof of income being ideal for this purpose, so it is the document that supports the validation of the economic solvency of its bearer.
Example of proof of income
An example of proof of income for workers who are in a subordinate employment relationship is the payment receipt, document with which you can prove that you receive a salary that is paid weekly, biweekly or monthly.
The payroll receipt It is another type of proof of income for a worker who receives a salary, regardless of whether it is paid monthly, biweekly or weekly.
As for the receipts for payment of professional fees (for those who practice a profession independently), these can be generated by the SAT (Tax Administration Service), and they can perfectly support or prove your income, and can be used as proof to any financial institution.
The same can be done with payment receipts for renting a property, which are also issued by the SAT and which can also be used as proof of income.
Proof of income for self-employed workers
A self-employed worker can also prove their income, despite not working as an employee in any company, since for this purpose there are documents with which they can specify this purpose.
The account statement is one of them because it demonstrates, in a concise way, the monthly income that remains in the bank account, since its content is reflected, helping the self-employed worker to prove their income.
On the other hand, purchase notes are another option, since they serve to demonstrate on the part of the self-employed worker that he is constantly acquiring merchandise. This also applies to the annual tax return for any self-employed worker, merchant or entrepreneur. This way, if they are registered with the SAT, they can demonstrate or verify their monetary income.
How to get proof of income?
This actually applies both to those who work independently and to those who work as employees in a company.
To do this, we must follow a series of steps below:
- On a blank sheet, create a document that, in the first place, indicates The city in which it was written, as well as the corresponding date.
- In addition, it is necessary to incorporate the references Who is the letter addressed to, regardless of whether it is a bank or any other type of company.
- Indicate the activities you carry out.
- Mention The amount of monthly income and the currency in which they are received.
- Complete the document that will serve as proof of income with a farewell and the signature of its owner.
Proof of income is the essential document for anyone to prove their level of income, regardless of how often they receive them, if they are employed by a company or if they are self-employed.
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