If you’re self-employed or an independent contractor, you probably don’t get pay stubs like regular employees. There are times that you will need a pay stub as proof of income when you apply for a credit card or loan. Keep reading to learn how to generate a professional pay stub.
Employee and Independent Contractor
First of all, let’s define the difference between regular employees and independent contractors.
A regular employee will:
Work for scheduled hours for a pay period
Have taxes withheld from their wages
Work for one company
Have benefits like paid and sick leaves and health insurance
Receive Form W-2 from the employer
Whereas, an independent contractor will:
Do not have scheduled hours
Do not have tax withholdings
Work for more than one company
Do not have benefits like regular employees
Receive Form 1099 that lists the total amount of income you earned during the year from the employer
How to generate pay stubs for independent contractors?
That’s it! Preview your pay stub whether the information is correct. If your information is accurate, you can complete the order and choose to download or email the pay stub. Now that you have a professional pay stub, you can use it as proof of income.
If you’re an independent contractor and in need of pay stubs, you can use our free online pay stub generator. It’s easy and convenient and takes only a few minutes to create your professional pay stubs.
Checkout this video to create paystub for contractors.