Free Printable Financial Statements Forms make life easier
Financial Statement Forms are required when you need to explain your financial situation to a concerned party. It is basically a formal record of all financial transactions. This is an extremely important document whose filing should not be taken lightly.
However, there is no cause for worry because you can easily find tips and templates for Free Printable Financial Statements Forms.
Here are a few necessary parts to it which you should know about: –
- Gross Weekly Income
This includes every aspect of weekly income before taxes. This is why it is termed as Gross Weekly Income. It can include the following categories.
- Base Pay
- Income from Self-employment
- Social Security retirement payments
- Public Assistance if any
- Rental Income
- Other sources such as child support and alimony
- Deductions from Gross Income
The deductions can include federal and state taxes, FICA and Medicare. These basically entail the taxes and direct payments made to the government.
- Other deductions from Salary
Apart from taxes and government payments, there could be other deductions that come out of your salary. The weekly amount needs to be mentioned in a proper systematic way.
- Gross Income from Previous Year
This refers to income which was received in the previous year before taxes.
- Weekly Expenses
Expenses on house supplies, Laundry, cleaning, incidentals need to be mentioned on a weekly basis.
These include real estate, personal property, automobiles, etc.
All kinds of debts and amount owed to creditors need to be taken into account.