Going self-employed while waiting for K-1?

[waiting2011]

My fiancee is a Chinese citizen and we received our NOA1 on November 16 from the VSC. We haven't heard anything, no touches were recorded since November 23, but we are getting close to our expected NOA2 date. I have a good job with plenty of regular income (approx 95k/year), but am soon going to quit and buy a large group of real estate properties and become a sole proprietor. Along with this, I'll be moving to a different state. A couple of questions:

 

1. I will be closing at the bank on all of the purchases in Mid-May, and my home will be for sale.

2. I have the flexibility to stay at my current job and house until at least the end of June (maybe later) if it will help the K-1 process move along. I don't want to make any problems with proving income, address confusion, etc.

 

Would you recommend waiting it out at my current job and sending in only tax transcripts and W-2's for the I-134? Or should I not worry about waiting around for it, and send along information for the new business? What should I send for the new business? The new business will have debt of about $3mil, and will show about the same monthly income as I currently have.

 

Also...does a September 3 wedding sound risky considering we are expecting the NOA2 in May?

 

Thanks!

[warpedbored]

You can qualify on income with assets but it may draw more scrutiny from the interviewing VO. It would be less chance of a blue slip if you keep your current job. As for a September 3rd wedding it may be possible but I wouldn't count on it. Expect a year and hope for 10 months.

Good luck

Carl

[Randy W]

At your income and asset level, I don't think you'll have an issue. Get a letter from your present employer (while you're still employed), along with the last three pay stubs.

 

You may wish to get creative, though, and have an accountant draw up a statement which would show your expected income from the new endeavor. My vote would be to not show this unless asked, although the asking may come in the form of a blue slip. But I'm pretty sure you have the financial issue covered - in other words, give the appearance of still being at your present job, but have the gap to the interview date covered in case it's needed.

 

This approach, IMO, would be the least likely to raise any additional questioning.