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A comprehensive personal financial statement for Maine residents, detailing income, assets, liabilities, and expenses. Essential for tax reporting and financial assessment.
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How to fill out personal financial statement

01
Title the document as 'Personal Financial Statement'.
02
Include your personal information: name, address, phone number, and email.
03
List your assets: include real estate, bank accounts, investments, vehicles, and other valuables.
04
Calculate the total value of your assets.
05
List your liabilities: include mortgages, loans, credit card debt, and other obligations.
06
Calculate the total amount of your liabilities.
07
Subtract total liabilities from total assets to find your net worth.
08
Include any additional information, such as income sources, expenses, and other financial details if required.

Who needs personal financial statement?

01
Individuals applying for loans or mortgages.
02
Professionals seeking financial advice.
03
Entrepreneurs requesting business financing.
04
Anyone undergoing a financial review or assessment.
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A personal financial statement is a document that provides an overview of an individual's financial status, including assets, liabilities, income, and expenses.
Individuals applying for loans or credit, business owners, and certain professionals like real estate agents or those involved in financial transactions may be required to file a personal financial statement.
To fill out a personal financial statement, list all assets and liabilities, calculate net worth, document income sources, and provide details on expenses. Use a clear format and ensure all information is accurate.
The purpose of a personal financial statement is to provide a clear picture of an individual's financial health, assist in securing loans, and aid in budget planning or financial decision-making.
A personal financial statement must report current assets, liabilities, net worth, income sources, and recurring expenses.
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