1099?

[-Cinnamon- 0]

From my K1 Visa Attorney:

If you are self-employed, then you may not be able to provide W-2’s or a letter from your employer. In that case, it will help to provide a business license, 1099’s and three most recent months of company bank statements to show current revenue earnings.

As you are probably aware, you must show that you will be able to financially support your fiancee in order for her to be issued a fiancee visa. According to your taxes from last you, you have negative income. From what I can see based on your taxes, you do not have a positive income. Therefore you will not be able to prove that you can support your fiancee. Unfortunately the US Consulate in Manila doesn't usually take cosponsor's either. According to our initial hire details, you had informed us that you make about $100,000 annually. Can you please explain to me why your income is negative on your taxes? Thank you very much.

To My Accountant:

I sent him the 2006-2007-2008 tax files that you sent me yesterday. Issue is the US Embassy in Manila will need proof of income. My draws from 08-07-06 to present and it shows $181,677.00 in * Transport INC. There is also income for * Southwest in 2006. I am not sure what will satisfy them. Do you have any clue. Sorry to be a pain.

From My Accountant:

I have not heard from the Visa attorney. The 1099's do not apply in this case, your company whether a S-corp or Sole Proprietor does not issue 1099s to its owner. I will wait to hear from the attorney. Thanks

If anyone has been thru this can you please respond. I can get a letter of deposits from 2006 till today stating a average monthly balance of $15,000.00 and total deposits of $1,200,000.00 to date. I have a S Corporation in California. As the owner I pay myself in draws from equity. I can prove income from the checks to me from the Corporation totaling over $190,000.00 during the above mention time.

[muñequita linda 0]

You should also present your corporation's tax returns (Form 1120-S). If the corporate tax returns show taxable income, with salary given to owner(s), I think you should be okay.

But the most important matter here is that your salary (if any) and your flow-through share of the corporation's income must be reported on your form 1040. And your salary is subject to payroll taxes too. The feds, whether Treasury or Department of State agents, are not too kind on people who under report their taxable income.

[AbbynSheryl 0]

hey

i am exactly on the same boat with u

i have a s corp and i am the sole owner

i send my wife in philippines my corporation certificate, my state licence and my transcripts from IRS for the year 2005, 2006,2007 and 2008

if u file tax for the corporation under your name then u r getting all the profit from the corporation and u paying tax on that amount to IRS.

if u have cpa just ask him to give u the copies of ur tax returns or just go to local IRS office and ask for the transcripts.

BTW manila dont care how much u put in the bank because they only care about the amount u pay tax on. as long as u pay over $17500.00

or close to about $20000.00 a year then u have no problem, but u need the proof that u make that much money and the proof they want is from IRS.

bcz that is the way immigration works.

goodluck and i hope it help u to understand.

abby n sheryl

Edited July 30, 2009 by AbbynSheryl