There has been an increasing trend of banks, landlords, and/or lenders asking self-employed individuals for letters from a CPA to verify, certify, vouch for, or attempt to estimate the income of the applicant. This income statement is then assessed by the lender when determining whether the loan should be approved. Some examples of requests (variable wording but roughly the same request) include:
- CPA-certified letter projecting income
- CPA letter verifying income is consistent with prior years
- CPA verification of employment
- CPA verification of income
- Financial projection/estimate
- CPA Income Projection
- 12 or 18 month Income Projection
- Financial statement signed by CPA
- Statement of Net Worth
Sometimes, the lender also requests this CPA letter to be notarized (the CPA must sign in front of a notary).
With the right disclaimer, it is possible to both meet the paperwork and compliance needs of the bank while also preserving the integrity of the CPA.
The types of persons being asked for such types of letters include:
- Contractors
- Those paid on 1099
- Persons owning a single-member LLC or other small business
- Freelancers
- Self-employed individuals
If you have been asked for this type of letter, please contact us below and we will complete it for you. We serve all 50 states and are Federally licensed.
Tags: income statement cpa / income verified cpa / letter from cpa / self-employed income letter cpa
Hello, I am a psychotherapist in private practice. I do my taxes on TurboTax, but I am signing a lease on an apartment and they are requiring a CPA letter to verify my business.
Need to file 2021 taxes. Need letter verifying my income. I need this letter ASAP. Trying to close on a lease by Wednesday October 19th.
I am trying to move into a new apartment. I qualified a year ago, but now the conditions have become stricter. Last year I needed to pay on back taxes and now I have paid that off. It was a costly mistake.
The rent is 4900.00 Their condition for rental require liquid assets equal to 2.5 x the rent for the entire lease of 15 months in the account. This is = 187500. I continue to save ,but I am not at this level. My bank account has grown by 50 thousand dollars in 6 months, but I do not have the required amount yet.
They are willing to work with me under the following conditions:
If you are self-employed, we will accept one of the following as proof of income:
A financial statement signed and notarized by a CPA verifying your current income.
Can you help me with this? I need this done soon. Deadline is Oct. 19th. I am supposed to close the deal on the 20th.
I am anxiously awaiting your response.
I can upload the bank statements. I have no other debts at this time. I am making a car payment. No outstanding credit card debt. I will owe taxes for 2021, but
I am hoping some of the write offs will help. My FICO score is 8 and credit scores are
Experian data Oct 12, 2022 739 Equifax data Oct 12, 2022 745 TransUnion data Oct12, 2022 753
I receive social security around 3000.00 , as well as two commission checks for 2500-3500.00 each. I have 8000.00/month before I see any patients.
Please let me know asap if this might be a service you could provide.
I do still need my 2021 taxes done. They are ready for someone to review the information.
I can be reached by phone 760 840 7293 or text. my email is drcole@agingbetter.com
I look forward to your response.
Dr. Andrea Cole Raub
769 840 7293
drcole@agingbetter.com