Financial situation

[stacato]

I am self empolyed. My last year (05) was very good and no problem with my tax return. However, 04 and 03 are borderline as far as the povery line goes (Had a lot of deductions...) my question is: Are they going to judge me on all 3 years or is the last one sufficient. By the way, 06 looks to be a very good year also, so I am wondering if I should try to delay the interview (It may happen anyway) to 07 so that I will have 2 good years of income. Anyone has any knowledge of this?

 

Thanks

[Guest ShaQuaNew]

I am self empolyed. My last year (05) was very good and no problem with my tax return. However, 04 and 03 are borderline as far as the povery line goes (Had a lot of deductions...)  my question is: Are they going to judge me on all 3 years or is the last one sufficient. By the way, 06 looks to be a very good year also, so I am wondering if I should try to delay the interview (It may happen anyway) to 07 so that I will have 2 good years of income. Anyone has any knowledge of this?

 

Thanks

214152[/snapback]

It's an interesting question, and I don't recall seeing this scenario discussed.

 

http://candleforlove.com/forums/index.php?showtopic=15273

 

If your income was above the poverty guidelines for 2005, and continues to be for 2006, it would be a good idea to have that emphasised in your paperwork should it come into question during the interview. As you can see in the thread above the requirements for K1 are much looser than other visa types.

 

You may want to consider posting your question in the GUZ Speaks forum.

[stacato]

I am self empolyed. My last year (05) was very good and no problem with my tax return. However, 04 and 03 are borderline as far as the povery line goes (Had a lot of deductions...)  my question is: Are they going to judge me on all 3 years or is the last one sufficient. By the way, 06 looks to be a very good year also, so I am wondering if I should try to delay the interview (It may happen anyway) to 07 so that I will have 2 good years of income. Anyone has any knowledge of this?

 

Thanks

214152[/snapback]

It's an interesting question, and I don't recall seeing this scenario discussed.

 

http://candleforlove.com/forums/index.php?showtopic=15273

 

If your income was above the poverty guidelines for 2005, and continues to be for 2006, it would be a good idea to have that emphasised in your paperwork should it come into question during the interview. As you can see in the thread above the requirements for K1 are much looser than other visa types.

 

You may want to consider posting your question in the GUZ Speaks forum.

214160[/snapback]

Thanks Shaq, good to see you back

[Randy W]

I am self empolyed. My last year (05) was very good and no problem with my tax return. However, 04 and 03 are borderline as far as the povery line goes (Had a lot of deductions...)  my question is: Are they going to judge me on all 3 years or is the last one sufficient. By the way, 06 looks to be a very good year also, so I am wondering if I should try to delay the interview (It may happen anyway) to 07 so that I will have 2 good years of income. Anyone has any knowledge of this?

 

Thanks

214152[/snapback]

 

 

Don't forget your assets - if you have enough in the way of assets to cover the lack of income for those years, that is ok. Home equity, car, stocks, bonds, etc.

[Guest pushbrk]

I am self empolyed. My last year (05) was very good and no problem with my tax return. However, 04 and 03 are borderline as far as the povery line goes (Had a lot of deductions...)  my question is: Are they going to judge me on all 3 years or is the last one sufficient. By the way, 06 looks to be a very good year also, so I am wondering if I should try to delay the interview (It may happen anyway) to 07 so that I will have 2 good years of income. Anyone has any knowledge of this?

 

Thanks

214152[/snapback]

It's the gross income that qualifies you, not the taxable income. You may want to provide additional financial information to make sure you've got it covered.

[LeeFisher3]

I may be mistaken on this, but the CR1 visa is based on the I-864 with a single years tax return that you will submit to NVC for approval.

 

I believe the only thing GZ would be requesting is an updated tax return if the interview gets into March 2007.

[stacato]

I am self empolyed. My last year (05) was very good and no problem with my tax return. However, 04 and 03 are borderline as far as the povery line goes (Had a lot of deductions...)  my question is: Are they going to judge me on all 3 years or is the last one sufficient. By the way, 06 looks to be a very good year also, so I am wondering if I should try to delay the interview (It may happen anyway) to 07 so that I will have 2 good years of income. Anyone has any knowledge of this?

 

Thanks

214152[/snapback]

It's the gross income that qualifies you, not the taxable income. You may want to provide additional financial information to make sure you've got it covered.

214167[/snapback]

I was told that it is the adjusted gross income, and this is what I am going by.

[Guest pushbrk]

I am self empolyed. My last year (05) was very good and no problem with my tax return. However, 04 and 03 are borderline as far as the povery line goes (Had a lot of deductions...)  my question is: Are they going to judge me on all 3 years or is the last one sufficient. By the way, 06 looks to be a very good year also, so I am wondering if I should try to delay the interview (It may happen anyway) to 07 so that I will have 2 good years of income. Anyone has any knowledge of this?

 

Thanks

214152[/snapback]

It's the gross income that qualifies you, not the taxable income. You may want to provide additional financial information to make sure you've got it covered.

214167[/snapback]

I was told that it is the adjusted gross income, and this is what I am going by.

214171[/snapback]

I don't know who told you that but I would double check it. It may possbly be true for a sole proprietership business income but I've seen no indication that you are to use an income number on the I-864 other than the Gross income number on the 1040.

[stacato]

I am self empolyed. My last year (05) was very good and no problem with my tax return. However, 04 and 03 are borderline as far as the povery line goes (Had a lot of deductions...)  my question is: Are they going to judge me on all 3 years or is the last one sufficient. By the way, 06 looks to be a very good year also, so I am wondering if I should try to delay the interview (It may happen anyway) to 07 so that I will have 2 good years of income. Anyone has any knowledge of this?

 

Thanks

214152[/snapback]

It's the gross income that qualifies you, not the taxable income. You may want to provide additional financial information to make sure you've got it covered.

214167[/snapback]

I was told that it is the adjusted gross income, and this is what I am going by.

214171[/snapback]

I don't know who told you that but I would double check it. It may possbly be true for a sole proprietership business income but I've seen no indication that you are to use an income number on the I-864 other than the Gross income number on the 1040.

214175[/snapback]

I asked two immigration attorneys and they both told me the same thing.

[izus]

stacato you might want to be sure to also have your bank records handy as well. i think the more you show that youve been ok over the past couple years the better.

 

your checking account bank can fax over a special paper called a immagration page which is showing all your transactions from the past year.

you can get your total deposits also included in that as well,

this is as long as you didnt bounce or anything

[Guest pushbrk]

1040 Schedule C is used to calculate self-employment income. The net is then carried to 1040 page 1 and added in with other income before adjustments.

 

The concept is if I received $100,000 in sales and my cost for the products I sold was $90,000, I made $10,000; not $100,000.

214198[/snapback]

Yes, when I refer to Gross Income, I mean line 22 on the 1040.

[obxtrainman]

I may be mistaken on this, but the CR1 visa is based on the I-864 with a single years tax return that you will submit to NVC for approval.

 

I believe the only thing GZ would be requesting is an updated tax return if the interview gets into March 2007.

214170[/snapback]

You definitely need the last three years for CR-1. I might add, they didn't accept copies of my taxes,,they wanted real tax returns, and, they especially wanted the W2's

 

I-184=last three current Tax returnes.

[Guest pushbrk]

I am self empolyed. My last year (05) was very good and no problem with my tax return. However, 04 and 03 are borderline as far as the povery line goes (Had a lot of deductions...)?my question is: Are they going to judge me on all 3 years or is the last one sufficient. By the way, 06 looks to be a very good year also, so I am wondering if I should try to delay the interview (It may happen anyway) to 07 so that I will have 2 good years of income. Anyone has any knowledge of this?

 

Thanks

214152[/snapback]

It's the gross income that qualifies you, not the taxable income. You may want to provide additional financial information to make sure you've got it covered.

214167[/snapback]

I was told that it is the adjusted gross income, and this is what I am going by.

214171[/snapback]

I don't know who told you that but I would double check it. It may possbly be true for a sole proprietership business income but I've seen no indication that you are to use an income number on the I-864 other than the Gross income number on the 1040.

214175[/snapback]

I asked two immigration attorneys and they both told me the same thing.

214178[/snapback]

Unless you are filing the 1040EZ, (highly unlikely if you are self employed) they are both dead wrong.

 

from http://www.uscis.gov/graphics/publicaffair...eets/affaqa.htm

 

18. Which income line from the federal tax return is used for income determination?

 

 

The line for gross (total) income on IRS Forms 1040 (line 22 in 1996) and 1040A (line 14 in 1996) is used to determine income. The line for adjusted gross income is used for persons filing IRS Form 1040 EZ (line 4 in 1996).

[LeeFisher3]

I may be mistaken on this, but the CR1 visa is based on the I-864 with a single years tax return that you will submit to NVC for approval.

 

I believe the only thing GZ would be requesting is an updated tax return if the interview gets into March 2007.

214170[/snapback]

You definitely need the last three years for CR-1. I might add, they didn't accept copies of my taxes,,they wanted real tax returns, and, they especially wanted the W2's

 

I-184=last three current Tax returnes.

214254[/snapback]

They changed the rules early this year to require only 1 years tax returns. See how much easier it would have been if you had just delayed things a bit?

[stacato]

I am totally confused now. Maybe I should post this at the GUZ forum?