Income and Loss

[Steve_and_Lina 0]

Just to update everyone on this thread.

Upon consulting with my wife and someone willing to step forward as a cosponsor, we filed the cosponsor I-864s with Moscow. On 8/7, my wife received the visas for her and my stepdaughter and we are now finalizing plans for them to come here to the US.

In the meantime, I've received responses from the NVC and USCIS concerning my inquiries. I don't have time to get into them now, but essentially, all parties passed the buck to the consulate, who then passes the buck back by saying that they're only following the guidelines given them.

Catch-22, anyone?

We may pursue this further. Or others on this board may wish to take this up. I think it's worth pursuing and a lot of people are being hurt by the current interpretation of the rule and I hope a reasonable solution can be found.

In the meantime, I want to wish everyone here the best of luck in this long and maddening process and I thank everyone for their opinions and insights and apologize if I came off a bit cranky. We all know that being without our loved ones can do that to a person.

Cheers!

Steve

[thepizzadude 26]

Just to update everyone on this thread.

Upon consulting with my wife and someone willing to step forward as a cosponsor, we filed the cosponsor I-864s with Moscow. On 8/7, my wife received the visas for her and my stepdaughter and we are now finalizing plans for them to come here to the US.

In the meantime, I've received responses from the NVC and USCIS concerning my inquiries. I don't have time to get into them now, but essentially, all parties passed the buck to the consulate, who then passes the buck back by saying that they're only following the guidelines given them.

Catch-22, anyone?

We may pursue this further. Or others on this board may wish to take this up. I think it's worth pursuing and a lot of people are being hurt by the current interpretation of the rule and I hope a reasonable solution can be found.

In the meantime, I want to wish everyone here the best of luck in this long and maddening process and I thank everyone for their opinions and insights and apologize if I came off a bit cranky. We all know that being without our loved ones can do that to a person.

Cheers!

Steve

Hehehe good luck to ya Steve

[Gary and Alla 3,694]

Just to update everyone on this thread.

Upon consulting with my wife and someone willing to step forward as a cosponsor, we filed the cosponsor I-864s with Moscow. On 8/7, my wife received the visas for her and my stepdaughter and we are now finalizing plans for them to come here to the US.

In the meantime, I've received responses from the NVC and USCIS concerning my inquiries. I don't have time to get into them now, but essentially, all parties passed the buck to the consulate, who then passes the buck back by saying that they're only following the guidelines given them.

Catch-22, anyone?

We may pursue this further. Or others on this board may wish to take this up. I think it's worth pursuing and a lot of people are being hurt by the current interpretation of the rule and I hope a reasonable solution can be found.

In the meantime, I want to wish everyone here the best of luck in this long and maddening process and I thank everyone for their opinions and insights and apologize if I came off a bit cranky. We all know that being without our loved ones can do that to a person.

Cheers!

Steve

Glad you got your visa. Good luck. Given our current tax code and the way welfare is handled I do not see any changes coming. Better to push for the FAIR TAX with your legislaors and end this nonsense once and for all. Yeah, good luck with that too. A government agency will never take a position if they can pass it to someone else and the NVC, USCIS and the Consulates can all pass it to someone else as they do not write the tax codes or handle welfare.

[pushbrk 12,822]

Just to update everyone on this thread.

Upon consulting with my wife and someone willing to step forward as a cosponsor, we filed the cosponsor I-864s with Moscow. On 8/7, my wife received the visas for her and my stepdaughter and we are now finalizing plans for them to come here to the US.

In the meantime, I've received responses from the NVC and USCIS concerning my inquiries. I don't have time to get into them now, but essentially, all parties passed the buck to the consulate, who then passes the buck back by saying that they're only following the guidelines given them.

Catch-22, anyone?

We may pursue this further. Or others on this board may wish to take this up. I think it's worth pursuing and a lot of people are being hurt by the current interpretation of the rule and I hope a reasonable solution can be found.

In the meantime, I want to wish everyone here the best of luck in this long and maddening process and I thank everyone for their opinions and insights and apologize if I came off a bit cranky. We all know that being without our loved ones can do that to a person.

Cheers!

Steve

Congratulations. Please update your profile, as you must have obtained CR1 and CR2 visas with I-864 forms. K3 and K4 use the I-134.

[Steve_and_Lina 0]

Congratulations. Please update your profile, as you must have obtained CR1 and CR2 visas with I-864 forms. K3 and K4 use the I-134.

Thanks. And just did change it. We originally were going for those visas, but then within 2 weeks we found out they (my wife and stepkid) could go for CR-1/CR-2 visas, so we decided to wait another month and do that, but I never changed our profile here.

[garmar 0]

<!--quoteo(post=3111033:date=Jul 12 2009, 10:44 AM:name=thepizzadude)--><div class='quotetop'>QUOTE (thepizzadude @ Jul 12 2009, 10:44 AM) <a href="index.php?act=findpost&pid=3111033"><{POST_SNAPBACK}></a></div><div class='quotemain'><!--quotec--><!--quoteo(post=3105749:date=Jul 10 2009, 02:39 AM:name=tomi)--><div class='quotetop'>QUOTE (tomi @ Jul 10 2009, 02:39 AM) <a href="index.php?act=findpost&pid=3105749"><{POST_SNAPBACK}></a></div><div class='quotemain'><!--quotec-->If you owned your business and on your tax paperwork, you showed loss. Will that count against you? will that give us a RFE or Red Flag?

<b>It depends if you are saying your business showed a total loss or just lost some money for that time period.</b>

I only had my business for half the year last year and I worked right after that. The total income is well over $20K which is above the poverty level?

<b>When you say the "total income" is well over $20K. Do you mean the sales are well over $20K before you take out expenses etc...OR after your losses the leftover money is well over $20K?

</b>

Also, lets say, I made $8k working for a business, and I have a $20K car.. How do I calculate the car as an asset?

<b>Unless you have 2 cars it won't count. The $8K will count if you have a 1099 or w-2.</b>

<b>Like Gary said Line 22 on you 1040 federal tax form is the # you need to be concerned with.

Good Luck</b>

<b>BTW I have my own business and dealt with this issue quite extensively last year moving money from one place to other to qualify without giving up ALL my allowable write offs. This process is very unfair to the business owner, you must give up GENUINE allowable expenses sometimes to qualify, and that in my opinion is unfair.</b><!--QuoteEnd--></div><!--QuoteEEnd-->

<!--QuoteEnd--></div><!--QuoteEEnd-->

As a small buisiness owner myself, here is MY 2cents worth here...

You do not necessarily HAVE to write off losses in the same year that they occured as a 'loss' or 'expense' to your buisiness. Some losses may also be written off over a period of time instead of all at once in a single year (The 'leasing' of a buisiness vehicle comes to mind here vs. just straight up buying one outright for cash... You STILL got a buisiness vehicle but you spread the loss out over a period of time instead of it occuring all at once... ) 'Depreciation over time' is also something to consider here... <img src="http://www.visajourney.com/forums/public/style_emoticons/<#EMO_DIR#>/good.gif" style="vertical-align:middle" emoid="" border="0" alt="good.gif" />

Another Example: I could buy some tools or supplies for my buisiness this year but 'misplace' the receipts and not actually write them off until next year or the year after... It is still a legitimate buisiness expense and you are not forced to write it off in the same year that you incurred it. This would make your buisiness income appear higher for that year. <img src="style_emoticons/<#EMO_DIR#>/innocent.gif" style="vertical-align:middle" emoid="" border="0" alt="innocent.gif" />

You can also move the income numbers from one year to the other by planning your purchases in advance and timing them correctly. Ex: If you know that your buisiness income is too high for the year and that they are going to kill you on taxes, Go out and buy the stuff you were planning to purchase for the buisiness in the following year NOW so those legitimate buisiness expenses can help offset the higher income on this years taxes. Same idea also works the other way, If your buisiness income is too low this year, put off spending that is not absolutely required to keep things going. Let the 'inventory' run low for a bit and then stock back up after the new year rolls around... <img src="style_emoticons/<#EMO_DIR#>/innocent.gif" style="vertical-align:middle" emoid="" border="0" alt="innocent.gif" />

If you sit down with a 'good' accountant / tax preparer and explain what you are trying to do here they can help you get the number to 'do right' without you having to worry about an audit. It is best to see one sooner than later... <img src="style_emoticons/<#EMO_DIR#>/whistling.gif" style="vertical-align:middle" emoid="" border="0" alt="whistling.gif" />

Taxes suck!!! <img src="style_emoticons/<#EMO_DIR#>/devil.gif" style="vertical-align:middle" emoid="" border="0" alt="devil.gif" />

A good accountant / tax professional can advise you and help you keep those numbers where they need to be to meet your goals.

[garmar 0]

I'm concerned with your statement "Unless you have 2 cars it won't count" There is nothing on the I-134 or I-864 that says that personal property is counted at all.

I am considering buying a second car so I can use my car as an asset. Not sure though. How did you get that information?

[Anh map 2,098]

I'm concerned with your statement "Unless you have 2 cars it won't count" There is nothing on the I-134 or I-864 that says that personal property is counted at all.

I am considering buying a second car so I can use my car as an asset. Not sure though. How did you get that information?

You are asking a question in a 2 year old thread.

Assets must be easily convertible into cash with placing undue hardship on the sponsor. Selling one's only car would be undue hardship. The CO's won't consider a sponsor's primary vehicle.

I-864 FAQ >>>> http://travel.state.gov/visa/immigrants/info/info_3183.html#6