affidavit of support

[JANETandLYLE 11]

My Fiance, Janet has an interview date set for October 14th, but I need some hlp on finishing up this Affivadit of Support paperwork. I am self employed and I own a auto repair shop. Last year I filed a loss of income with the IRS so now I must show assets three times the minimum which is roughly $66,000.00 i prefer to show hard assets such as my collector cars and will include a professional apprasial, NADA values on the vehicles, back up with copies of the titles (free of leins) all in my name. They will exceed the needed value by a fair amount. This should handle my 08 tax loss shown. Should I also include the three previous tax years, just to show that normally I make enough? Also, I do not want to ask family for co-sponsorship, as I have enough here to do this. My bank account is not usuable at this time, so I am looking at using all hard assets. I was thinking of including a letter as to why I showed a loss for 08 and the economy issue to help my case. Since I am self employed, what all would I need to submit so we have no issues. I don't get pay stubs, etc from work. No letter from an employer, etc. Thanks for the help all!

[Dakine 26]

My Fiance, Janet has an interview date set for October 14th, but I need some hlp on finishing up this Affivadit of Support paperwork. I am self employed and I own a auto repair shop. Last year I filed a loss of income with the IRS so now I must show assets three times the minimum which is roughly $66,000.00 i prefer to show hard assets such as my collector cars and will include a professional apprasial, NADA values on the vehicles, back up with copies of the titles (free of leins) all in my name. They will exceed the needed value by a fair amount. This should handle my 08 tax loss shown. Should I also include the three previous tax years, just to show that normally I make enough? Also, I do not want to ask family for co-sponsorship, as I have enough here to do this. My bank account is not usuable at this time, so I am looking at using all hard assets. I was thinking of including a letter as to why I showed a loss for 08 and the economy issue to help my case. Since I am self employed, what all would I need to submit so we have no issues. I don't get pay stubs, etc from work. No letter from an employer, etc. Thanks for the help all!

Since you are self employed it's a GOOD idea to have the last 3 years of IRS tax transcripts. 800 829 1040. Free and 24/7

[Rocky_nBullwinkle 6]

My Fiance, Janet has an interview date set for October 14th, but I need some hlp on finishing up this Affivadit of Support paperwork. I am self employed and I own a auto repair shop. Last year I filed a loss of income with the IRS so now I must show assets three times the minimum which is roughly $66,000.00 i prefer to show hard assets such as my collector cars and will include a professional apprasial, NADA values on the vehicles, back up with copies of the titles (free of leins) all in my name. They will exceed the needed value by a fair amount. This should handle my 08 tax loss shown. Should I also include the three previous tax years, just to show that normally I make enough? Also, I do not want to ask family for co-sponsorship, as I have enough here to do this. My bank account is not usuable at this time, so I am looking at using all hard assets. I was thinking of including a letter as to why I showed a loss for 08 and the economy issue to help my case. Since I am self employed, what all would I need to submit so we have no issues. I don't get pay stubs, etc from work. No letter from an employer, etc. Thanks for the help all!

Since you are self employed it's a GOOD idea to have the last 3 years of IRS tax transcripts. 800 829 1040. Free and 24/7

Definitely send the last three years worth of tax returns

I know at least a couple of folks that showed a loss in the previous tax year, and got denied. The CO's are not tax experts, so you may need more to show them that you indeed have income. They get nervous when they see negative income for the petitioner. I might suggest preparing a profit/loss statement for the current year to date, and a statement of net worth as well. Having an accountant certify both documents would be a plus. Depending on your bussiness, references from some of your biggest clients might help as well.

--Mr. Bill (Bullwinkel)

[DEDixon 39]

A business that showed a loss doesn't mean the business owner had negative income. The business owner had to live on something! This "something" is what you report to USEM and it should be on your personal income taxes too. And yes, submit 3 years of taxes when self employed... do it or take a huge risk in getting denied.

[JANETandLYLE 11]

A business that showed a loss doesn't mean the business owner had negative income. The business owner had to live on something! This "something" is what you report to USEM and it should be on your personal income taxes too. And yes, submit 3 years of taxes when self employed... do it or take a huge risk in getting denied.

I appreciate all the help here! I don't have a problem showing three years of back taxes, or even more. That doesn't bother me. I guess I'm a bit confused here because on some posts people are telling others if you showed a loss last year you have a good chance of being denied (even thought they are showing assets). In some cases, I can see that. I swear somewhere I read if you show a loss any one of the three years, then you must show either bank accounts, or hard assets. Ok, I'm showing a car collection (only showing five of my collector cars). I will have a written apprasial, that backed up by NADA book values on each car to show the apprasial is within reason, and that backed up with copies of the appraised cars titles all in my name and free of any and all liens. The values of the five cars I will be using exceed $125,000.00 so I don't understand or see any reason I should have a problem here. Normally I would have to show three times the 125% above poverty right? But since I show a loss for a years, than I must show three times the 125% above poverty. Thats equates to roughly $70,000.00 I'm showing only five of my cars, and their value far exceeds that figure. I will also send copies of titles to cars in my name (approximetely four other cars) that will not have been appraised. By showing those that means I am showing at least one driving car for getting around if ever I had to sell the collector cars within the 12 month period I read specified. I guess I don't see a major issue here, myself. Does anyone see any reason I would get denied? I can also show shop equipment values, by getting an apprasial from the Snap-on Dealer. Should be at least another $20,000.00-$30,000.00 there. Am I missing something here in regards to my thinking on all this? I thought if you were able to show the assets in a "down" year at the required amount, then generally it was not going to be an issue. Please tell me what you think. Thanks

[I AM NOT THAT GUY 5,715]

You have to remember, that chances are you won't get a chance to explain your situation to the CO. Your I-134 and supporting documents need to speak for themselves. I doubt your fiancee could explain your situation either. The CO has a limitted time, 10 to 15 min for the intereview, and if he has any doubts, then he will set her case aside for further review.

The one case that stands out most, is the case where the petitioner made $125,000 worth of capital investments in the previous tax year, and decided to section 179 the property, thereby wiping out any tax liability. He was denied immediately, and unable to satisfy USEM, despite numerous phone calls, letters, and personal visits.

Another case the petitioner had not filed tax returns for several years, deciding to live off the grid and conducting an undergroud bussiness. However, he was able to produce returns that satisfied both the Peruvian Embassy and the USCIS.

For hard assets, they are looking for assets that can readily be turned into cash within one year. They will be looking at Actual Cash Value. You need to show what similar assets are selling for in your area. If your bank account is unusable, and all you have is stuff to sell, then I don't think that will satisfy them. You need to fluff up your bank account.

Edited September 13, 2009 by Mister_Bill

[JANETandLYLE 11]

You have to remember, that chances are you won't get a chance to explain your situation to the CO. Your I-134 and supporting documents need to speak for themselves. I doubt your fiancee could explain your situation either. The CO has a limitted time, 10 to 15 min for the intereview, and if he has any doubts, then he will set her case aside for further review.

The one case that stands out most, is the case where the petitioner made $125,000 worth of capital investments in the previous tax year, and decided to section 179 the property, thereby wiping out any tax liability. He was denied immediately, and unable to satisfy USEM, despite numerous phone calls, letters, and personal visits.

Another case the petitioner had not filed tax returns for several years, deciding to live off the grid and conducting an undergroud bussiness. However, he was able to produce returns that satisfied both the Peruvian Embassy and the USCIS.

For hard assets, they are looking for assets that can readily be turned into cash within one year. They will be looking at Actual Cash Value. You need to show what similar assets are selling for in your area. If your bank account is unusable, and all you have is stuff to sell, then I don't think that will satisfy them. You need to fluff up your bank account.

Ok, so if my assets (the cars) won't work what If i transfer some reserves (I will need to dig deep) and can show a bank balance of $5,000.00 to $10,000.00 dollars? I guess I am not sure what they will expect to see in all this I get more confused as this goes along. I guess I thought having prove of ownership of the properties (my collector cars) would suffice, but at this point it doesn't appear that that will be the case. I'm not sure what to think of all of this.

[DEDixon 39]

Your business can take a loss, but you have to be getting a GROSS salary/income from your business. Maybe you need to have a quick chat with an accountant. An accountant would be able to tell you your GROSS income.

Another thing to consider. A business can be worth a million dollars (if sold) can report a loss.

Using cars as your assets is shaky. Often, a lot of emotions go into car appraisals so I think you would also need to include classified ads with pictures and whatnot of like vehicles to support the appraisals. I don't know of any professional organization that USEM trusts that can officially certify the value of the cars. In my opinion, you would need an appraisal from an organization that USEM personnel are familiar with (not vaguely familiar with). Like Mr. Bill said, the COs only have a few minutes and so if the answer isn't easy to obtain, they likely will lose interest fast.

So much emotion often tied to cars - question for you. Do you own a home? You said that only 5 of your cars are worth more than 125,000 and depending on where you live, that might buy more than half a house. If you don't own a home, COs are smart enough to wonder about 125,000 in cars but nothing in a home.

The cars thing is shaky. I have absolutely no interest in cars so I'm quick to discount their value no matter a professional appraisal. If you use the cars as part of your assets, I hope the CO doesn't think like me.

Bottom line, since you are confused and your situation is beyond the normal, you should have a sit down with an accountant. The accountant might be able to simplify all of this for you with some "official" paperwork with a seal on it (everyone likes seals).

[I AM NOT THAT GUY 5,715]

You have to remember, that chances are you won't get a chance to explain your situation to the CO. Your I-134 and supporting documents need to speak for themselves. I doubt your fiancee could explain your situation either. The CO has a limitted time, 10 to 15 min for the intereview, and if he has any doubts, then he will set her case aside for further review.

The one case that stands out most, is the case where the petitioner made $125,000 worth of capital investments in the previous tax year, and decided to section 179 the property, thereby wiping out any tax liability. He was denied immediately, and unable to satisfy USEM, despite numerous phone calls, letters, and personal visits.

Another case the petitioner had not filed tax returns for several years, deciding to live off the grid and conducting an undergroud bussiness. However, he was able to produce returns that satisfied both the Peruvian Embassy and the USCIS.

For hard assets, they are looking for assets that can readily be turned into cash within one year. They will be looking at Actual Cash Value. You need to show what similar assets are selling for in your area. If your bank account is unusable, and all you have is stuff to sell, then I don't think that will satisfy them. You need to fluff up your bank account.

Ok, so if my assets (the cars) won't work what If i transfer some reserves (I will need to dig deep) and can show a bank balance of $5,000.00 to $10,000.00 dollars? I guess I am not sure what they will expect to see in all this I get more confused as this goes along. I guess I thought having prove of ownership of the properties (my collector cars) would suffice, but at this point it doesn't appear that that will be the case. I'm not sure what to think of all of this.

I think that a good accountant might be of assistance here. I assume you are a sole proprietor. You need to show sufficient cash flow to support your lifestyle, and support your fiancee when she arrives in the US, and in a manner easily understood by the CO. I am self employed myself, and understand your frustration. It's easy to move money around, but hard to prove you have any for yourself at times. They won't go by just your cash draws. I just don't know how detailed they are going to get. You could always amend last years return to show enough income, but that may end up costing you too much in taxes and penalties.

[JANETandLYLE 11]

I really appreciate all your help. I am going in today to see my accountant. I'll let you all know what happens. Thanks again everyone!

Edited September 14, 2009 by JANETandLYLE