Reply: How do you feel about tip affidavits as a form of income proof?

How do you feel about tip affidavits as a form of income proof?

Reply: How do you feel about tip affidavits as a form of income proof?

Name	Leave blank to post anonymously.
E-mail	Your e-mail address will never be displayed on the site.
Subject
[quote="anonymous post=638990 userid=0"]They should be claiming their tips so they will have proof on their pay stubs or tax returns . You don’t need an affidavit for that. And if you really want to use one, have it filled out by their manager .[/quote]
Attachments	Allowed file extensions : jpg, jpeg, gif, png, zip, txt, doc, gz, tgz, xls, xlsx, docx, pdf Maximum File Size : 0.5 MB Maximum Image File Size : 0.5 MB Add Files... You can drop files here or use the add files button.

Chris Finetto

Yep, done it! But, I only allowed it be a percentage of income. I allow for “other income” it has to be documented, to the extent that it can. 20% or less.

Posted 1 year 3 weeks ago

Katy Schmidt I'm just not sure I see any advantage to that. Affidavit is just a fancy word for someone scrawling with crayon "I swear I make $500,000 a year." on the back of a napkin and signing it. That is an "affidavit". Just because someone uses an official or less common word to describe something, doesn't increase the chances that it is authentic.

Posted 1 year 3 weeks ago

Katy Schmidt

Miles Scruggs that is how I feel, but someone from my group asked as she had used it with a previous company

Posted 1 year 3 weeks ago

Miles Scruggs

If they flow the funds through a bank account and report to the IRS then you can use the bank statements and tax returns to qualify the income. If they are keeping the money all off book and committing tax fraud, what makes you think they will respect your lease?

Posted 1 year 3 weeks ago

Katy Schmidt

I am just looking at form examples and several have the form require notary…so that is why I ask

Posted 1 year 3 weeks ago

Miles Scruggs

Katy Schmidt What is the advantage of having it notarized? Is there even the slightest concern that the signature wasn't actually signed by the person it claims to be?

Posted 1 year 3 weeks ago

Discuss!

Multifamily Insiders Discussions

The Front Lines

How do you feel about tip affidavits as a form of income proof?