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Income Verification

Acquiring an income verification letter, also known as a CPA letter, can make signing a lease or deed a lot easier. In today’s lending environment, securing a mortgage or apartment has become increasingly difficult and complex. This is especially true for the self-employed, who are often required to prove steady income for longer than traditionally-employed individuals. To provide proof of income, self-employed individuals are often asked to obtain authoritative documentation from a CPA. In most circumstances, a letter written and signed by a CPA certifying the accuracy of the income and/or tax returns of the applicant is sufficient.

It’s exciting to buy a new home or lease a new apartment. However, not without the right documentation. Before you start your housing hunt, make sure you have a CPA letter and income verification letter. At 212 Tax, we believe that innovative and creative individuals drive the growth and success of NYC, which is why we’re glad to provide self-employed individuals with an income verification letter that satisfies the requirements of your lender or potential landlord. For existing clients, this is usually quite a simple request because we are familiar with your income and tax returns. However, we are happy to attempt to do this if you have prepared your tax returns by yourself or somewhere else, as long as you provide us with all of the necessary paperwork and information.

Why Proving Income Matters

Searching for a place of residence used to not be this complicated. However, obtaining a CPA letter or income verification letter actually benefits all parties. Prior to the 2008 housing bubble, many borrowers were able to secure loans that required little income documentation. Today, all lenders — and mortgage lenders in particular — have implemented strict new rules that require borrowers to account for their income. Overall, this is mutually beneficial, as the lender worries less about losing money on a bad loan, and buyers are less likely to enter a contract they may not be able to repay.

Although traditionally-employed individuals can still use their year-end tax forms to prove income, self-employed borrowers need income verification through an independent source. Our tax accountants can help you with your income verification letter, so you can get the documentation you need quickly — and keep your deal moving in the right direction. Do you have an income verification letter, but not sure exactly if it’s legitimate? Our income verification letters can:

  • Confirm your self-employment status
  • Verify your income from self-employment over a multiyear period
  • Verify your business income and ownership percentage
  • 212 Tax & Accounting Services can also help you:

Calculating the profitability and sustainability of your business
Analyzing how a real estate purchase could impact your business finances

212 Tax and Accounting Services

The tax accountants at 212 Tax provide a broad range of services to business owners and individuals in the New York City region. We specialize in helping the self-employed and business owners maximize tax savings while adhering to all city, state and federal laws. When you partner with 212 Tax, you’ll benefit from the prompt, professional support you need and the personalized service you expect.

We can also mentor you and share comprehensive business planning strategies. Our accountants offer:

Contact 212 Tax for Prompt Income Verification Services

The tax accountants at 212 Tax understand that you’re a busy professional. You want to spend your time growing your business and providing value for your customers. To do that, it’s important to work with trustworthy tax accountants who understand the complex landscape of New York City. It’s also important for you to be able to trust your CPA for personal, experienced advice — and that’s where 212 Tax can help.

Isn’t it time you started doing business with tax professionals who understand your unique needs? Explore our Yelp reviews, give us a call, or send us an email to see what 212 Tax can do for you.

Individual Tax Services

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P: (646) 699-3025

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