Poverty Guidelines - Support

[Jonathan415]

I will be filing soon. However, there is something that worrys me.

 

I'm self-employed, with three employees. But in 2005, I had profits of only $15,000 on my tax return. Reason was from buying $40,000 in computer equipment as deductions and from spending agressively on research and development this year. I was okay in 2003, and 2002 with around the $50,000-60,000 range. Would one bad (most recent) year hurt my chances?

 

I don't have any trouble supporting myself, but I was wondering if the government would interpret that last year ($15,000) in 2005 as insufficient?

 

Anyone have a similar experience? How did that go?

[david_dawei]

You are talking about company "profit", but I would think that the guideline we are evaluated against is your "income".

 

Even the bank statement letter I have heard some talk of, mentions "deposits" for the year, but NOT withdraws.. which, again, implies, what your income was (I understand that deposits imply 'net' since most get something taken out).

[frank1538]

Take a look at Q18 under the Income Requirements at: http://uscis.gov/graphics/publicaffairs/fa...eets/affaqa.htm. Typically, the requirement is based on gross income, not net profit. The link is a little dated, but it should give you a good idea.