Originally Posted by
flyguy6
What did you put for business income and years of operation? Did you get asked for any business documentation or business verification? I just got the official letter from Chase today. They are asking for documents with the following info: name of your company, federal tax identification number and proof of current business physical address.
Good explanation. Big thanks!
I've been in operation for about 7 years, which is what I put. Business income around 70k. I was not asked for any verification or documentation. I guess a lot of it depends on what type of business you're claiming as well. For instance, I rent out residential property as opposed to say... brick and mortar retail sales. Everything gets reported under my personal income tax ID number, which probably isn't the smartest thing. I should probably think about an LLC or something eventually but that's off topic. While I somehow doubt that Chase has access to my tax returns, I know that some of the other information (such as property ownership) is public record. No idea how much legwork their underwriters are doing,