how is income verified for self employed? I do have a W-2 for the business I own, but it's not the entire amount I make each month....I had it setup for taxes, but the amount is actually only 1/6 of what I make each year(the rest of my income from business I pull out as equity withdrawls)....Will they just look at my tax returns for the past two years and not my w-2?
Most lenders will request your tax returns for the last 2 years. Being that you pay yourself as an employee of the business, then maybe you should consider buying the vehicle through the business if your employee income is not high enough. Either way, I would assume that you could go either route as long as you are showing that you can pay for the vehicle. Different lenders require different things though. Some will count your deductions as income and some will not.
