How do I Prove Income for a Car Title Loan in Miramar, Florida If I am Self-Employed?

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If you’re self-employed in Miramar, you may not have the luxury of a steady, reliable paycheck. Some months might be better than others, and if you’re looking for a loan you might be wondering how you can accurately prove your income. Proving income with a car title loan in Miramar can be quite simple.

Here more information on that, and details on an easy, flexible title leoan solution, title loans serviced by LoanMart.

When Are You Considered to Be Self-Employed in Miramar, Florida?

When you hear of someone being self-employed, you might immediately think of plumbers, electricians, accountants, mechanics, or gardeners. In a lot of these situations, a self-employed person will either drive to a customer’s location or the customer will come to visit them, but in reality, it’s not always that simple.

If you charge someone money for a product or perform services without appearing on their payroll, the chances are the IRS considers you to be self-employed. As a result, depending upon the circumstances, you might receive either a 1099-MISC or a 1099-K form for that tax year.

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For example, you’re self-employed if your work involves either of the following:

  • Contract Work—Any kind of contract work where you get paid for each job. Besides freelance work, such as landscaping, writing, or graphic design, this includes driving for Uber, Lyft, or a delivery service like Postmates or DoorDash.
  • Selling Products—If you create or buy products and then sell them. Nowadays, a lot of folks are earning money with their own online storefronts through retailers such as eBay, Cafepress, Etsy, or Amazon.

You might already have a full-time job but drive for Uber at the weekend. Technically, you’re working for Uber on a contractual basis and Uber is required to report your earnings to the IRS. The good news is that you could use this money as income for a loan.

What Proof of Income Can Be Used to Get a Car Title Loan in Miramar, Florida When Self-Employed?

When self-employed there are many ways to provide proof to match your stated income for the year, any of the following can be accepted as proof of income:

  1. Bank statements
  2. Paychecks
  3. Letters of Employment

A lot of freelance workers and contractors get paid by having their payments directly deposited into their bank account. Even contractors who receive a check or cash will often still deposit the money, making it one of the easiest ways to prove income.

When you apply for a title loan in Miramar, Florida the loan officer will review the bank statements and look for any deposits related to your work. This can include cash or check deposits as well as transfers directly into your account from your customers.

You don’t need to have an account with one of the big banks either. Credit unions, PayPal, and even pre-paid Visa direct debit cards, such as Green Dot or Netspend, are all acceptable.

Can I Still Get a Car Title Loan in Miramar, Florida Without a Bank Account?

Yes! Bank statements are one way to prove income but they’re not the only way.

For example, if you receive a steady payment from a specific customer or are contracted to an employer, you could ask them for a Letter of Employment. You can also submit copies of the paychecks you’ve received for your work. Both these methods can show how often and how much you typically get paid and can be used to calculate your annual gross income.

Regardless of how you get paid, your loan officer will work with you to find a solution that works best for you.

Why Choose a Title Loan for Funding in Miramar, Florida?

If you need a quick, hassle-free solution to a temporary cash-flow problem, a title loan serviced by LoanMart could be just the answer you’re looking for1.

A title loan serviced by LoanMart has a number of advantages over a more traditional title loan. Not only is the process typically a lot quicker and easier, but it also allows flexibility throughout the process1.

To find out if you qualify, simply visit the website and complete the short inquiry. You could be approved in minutes and could have the money in your hand within just a few short hours – regardless of who you work for1!

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