Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

How do I show proof of income if I'm self employed?

I'm self employed and make less than $100 a month. About $200 YTD.
How do I document that as income?
Am I supposed to register as a business?

 
Anonymous

Asked by Anonymous at 7:41 PM on Jul. 22, 2010 in Money & Work

This question is closed.
Answers (18)
  • That stinks! Well, then I guess use some of the suggestions that some of the ladies have suggested. What do you need the proof of income for? If it is something that you need right away, maybe ask the company to write a letter on what they have paid you YTD. Kind of like daycares and preschools do for parents at tax time. They put how much the parents have paid for services and they include their TIN. The company could do a reverse of that and put how much they have paid you. Good Luck!

    JeremysMom

    Answer by JeremysMom at 8:24 PM on Jul. 22, 2010

  • If you file taxes and would be the only way to show it. Otherwise you could do a P&L.
    Kari126

    Answer by Kari126 at 7:43 PM on Jul. 22, 2010

  • Is this a business that you are trying to grow and get more clients? Or is this just something to do to bring in an extra $100 each month? If this is an actual business then you will probably need to call City Hall and see if you need a business or occupational license. You may also have to call the state and see if you need a license with them. Also, don't forget to file for an TIN (Tax Identification Number).

    JeremysMom

    Answer by JeremysMom at 8:00 PM on Jul. 22, 2010

  • Profit and Loss. It is a spreadsheet to keep track of your income and your expenses.
    Kari126

    Answer by Kari126 at 8:00 PM on Jul. 22, 2010

  • Self employment income has to be reported if it's over $600 in the course of a year. Also, if you recieve money no matter what the amount is a cancelled check can be proof of the income recieved or the amount posted to your bank statement would be reflective of the amount you received for a given month from your self-employment.
    CafeMochaMom1

    Answer by CafeMochaMom1 at 8:03 PM on Jul. 22, 2010

  • For your situation, would it be possible to have the company "hire you". That way it would take all the hassle of whether or not you have to have a license and you will be able to get a pay check stub which will be proof of income.

    JeremysMom

    Answer by JeremysMom at 8:10 PM on Jul. 22, 2010

  • receipts?
    jennifer588

    Answer by jennifer588 at 7:42 PM on Jul. 22, 2010

  • I would call my local city hall and ask them.
    AdrianaS

    Answer by AdrianaS at 7:43 PM on Jul. 22, 2010

  • What type of work do you do? What you do would depend if you have to register or not.
    JeremysMom

    Answer by JeremysMom at 7:44 PM on Jul. 22, 2010

  • If your making under 800/yr you don't have to claim it as income.
    EveMomToThree

    Answer by EveMomToThree at 7:50 PM on Jul. 22, 2010