Tax forms

[Oliverpb 2]

I have a question for those of you who applied at MOS. I am currently living the dream of owning my own business. I have been self employed for 7 months now and I am just filing my taxes for 2011. MOS asks for 5 items,

1. original tax forms signed from last year... Check

2. Form I-134... Check

3. Form W2. I have mine from last year since I left the company in July...

4. Bank Statement... Check (letter stating average balance, years with bank, current balance. Also current statement)

5. Letter from employer... What do I do in this case? write my own letter? I do very good for myself and the business is taking off great, but I have read self employed need 3 years of tax forms. Same if the business just started?

I also have a sizable 401K, own my own home, and savings. copies of these?

Thanks for the help. I should post in main forum too.

[I AM NOT THAT GUY 5,715]

Answered in your other post.

[Gary and Alla 3,694]

I have a question for those of you who applied at MOS. I am currently living the dream of owning my own business. I have been self employed for 7 months now and I am just filing my taxes for 2011. MOS asks for 5 items,

1. original tax forms signed from last year... Check

2. Form I-134... Check

3. Form W2. I have mine from last year since I left the company in July...

4. Bank Statement... Check (letter stating average balance, years with bank, current balance. Also current statement)

5. Letter from employer... What do I do in this case? write my own letter? I do very good for myself and the business is taking off great, but I have read self employed need 3 years of tax forms. Same if the business just started?

I also have a sizable 401K, own my own home, and savings. copies of these?

Thanks for the help. I should post in main forum too.

5. Nothing. Letters from employers are optional. Opt out. The instructions say you can present ANY of these items, they do not say you must present ALL of these items.

401K and savings are easy, the house not so much. You need a professional appraisal and a mortgage balance sheet and then they may not allow it as it could not be sold without substantial loss to the family...you have to replace it.

If your income is sufficient and well documented you do not need anything else, leave it blank.

[1HappyGuy 45]

For self employed they want to see bank statements to see that you have enough deposits to substantiate the total receipts reported on your business. That's the reason for the bank statements. Your description of your business are part of your overall application will state about your business so obviously an employer letter is not necessary. Most often the employer letters are used for people that have only been at a particular job for a short time.