Self-Employed Taxes

[zarco 0]

Hi All,

I have a question: I'm self-employed and make 125% above the poverty line for a family of 2. The tax-preparer usually adds business expenses/deductions that cut into the total yearly income which bring the gross amount slightly below the poverty level. What I'm wondering, is if I will need a co-sponsor or if I can submit my tax transcripts with affidavit of support showing the total amount I made for the year? Thank you in advance.

[L+T 71]

Hi All,

I have a question: I'm self-employed and make 125% above the poverty line for a family of 2. The tax-preparer usually adds business expenses/deductions that cut into the total yearly income which bring the gross amount slightly below the poverty level. What I'm wondering, is if I will need a co-sponsor or if I can submit my tax transcripts with affidavit of support showing the total amount I made for the year? Thank you in advance.

You would need a cosponsor at 134 and 864 filings, unless you or your fiancee have significant assets, or your fiancee has income.

[KayDeeCee 4,893]

Hi All,

I have a question: I'm self-employed and make 125% above the poverty line for a family of 2. The tax-preparer usually adds business expenses/deductions that cut into the total yearly income which bring the gross amount slightly below the poverty level. What I'm wondering, is if I will need a co-sponsor or if I can submit my tax transcripts with affidavit of support showing the total amount I made for the year? Thank you in advance.

For the self-employed, you would use total income, line 22 of your 1040. If that amount is 125% or more of the poverty line for a household of 2, then you should be ok without a co-sponsor. If you have any assets such as savings, you can add those to the form too. Assets must equal 3x the amount you fall short in income. Just for example, if you needed $20K but you only made $18k, you need 3x the $2k you are missing, or $6k in assets. Of course if you do not have enough to reach the 125% level, then you need to secure a co-sponsor.

[Gary and Alla 3,694]

Hi All,

I have a question: I'm self-employed and make 125% above the poverty line for a family of 2. The tax-preparer usually adds business expenses/deductions that cut into the total yearly income which bring the gross amount slightly below the poverty level. What I'm wondering, is if I will need a co-sponsor or if I can submit my tax transcripts with affidavit of support showing the total amount I made for the year? Thank you in advance.

They go by your PERSONAL income and that is line 22 of the 1040 form. The expenses are deducted from the BUSINESS income. USCIS does not care about the business income, a business cannot support an immigrant. YOU do. What is YOUR income? Line 22 of the 1040.

what happens if you do not deduct the expenses and costs of your business? You have a higher income and you get to pay the 15.2% self employment tax on all of it. Your choice. You are not required to claim all business deductions if you do not want to.

You would need a cosponsor at 134 and 864 filings, unless you or your fiancee have significant assets, or your fiancee has income.

Fiancees assets and income are not used.

[L+T 71]

Fiancees assets and income are not used.

True, they are not used in i-134 application. However, if otherwise admissable (except public charge), a fiancee may post bond or other. The assets or income of the fiancee would then be used at 864 as spouse.

[LeftCoastLady 441]

True, they are not used in i-134 application. However, if otherwise admissable (except public charge), a fiancee may post bond or other. The assets or income of the fiancee would then be used at 864 as spouse.

Oh god, here we go again.

[Gary and Alla 3,694]

True, they are not used in i-134 application. However, if otherwise admissable (except public charge), a fiancee may post bond or other. The assets or income of the fiancee would then be used at 864 as spouse.

And which consulate would you recommend doing that with? Please, do give the details for the OP so he can perhaps use this method

How does a K-1 spouse have income in the US when they cannot work until after adjustment of status?

[L+T 71]

And which consulate would you recommend doing that with? Please, do give the details for the OP so he can perhaps use this method

How does a K-1 spouse have income in the US when they cannot work until after adjustment of status?

Paragraph 3 of 134 instructions allow posting of "bond or other" for all consulates which use 134. Income can be in many forms, ie, investment income, interest income, owning foreign business, pension, rental income etc...

[Gary and Alla 3,694]

Paragraph 3 of 134 instructions allow posting of "bond or other" for all consulates which use 134. Income can be in many forms, ie, investment income, interest income, owning foreign business, pension, rental income etc...

And you are aware that a consulate can issue a K-1 anyone simply based on their judgement that they will not become a public charge, right? It is entirely up to their discretion. They do not even need an I-134. And several consulates allow an applicant to self sponsor in SOME instances.

Most will not and basing an application on this is foolish. If you do not have sufficient income, I do not suggest you go to an interview without a co-sponsor. It is a diservice to suggest otherwise.

[L+T 71]

And you are aware that a consulate can issue a K-1 anyone simply based on their judgement that they will not become a public charge, right? It is entirely up to their discretion. They do not even need an I-134. And several consulates allow an applicant to self sponsor in SOME instances.

Most will not and basing an application on this is foolish. If you do not have sufficient income, I do not suggest you go to an interview without a co-sponsor. It is a diservice to suggest otherwise.

Yes, i agree the 134 is optional for the consulate, which i stated above (which require 134)... It is a dis-service to suggest a USC making 0% and foreign alien making 200% (or have excessive assets) could not get visa based on foreign alien income or assets, which will meet or exceed the future 864 requirements (in which they will be co-applicants)

Edited March 15, 2012 by Thomas70

[Hank_ 9,174]

Oh god, here we go again.

Ya "someone" read Mother Goose and actually believed it.....

[zarco 0]

Hi again,

My 2011 earnings after deductions on line #22 is: $20,395.00 I listed a family member as a dependent but they don't live in the same household. Will my income be enough for affidavit of support? For AOS, how much money would I need in bank so avoid using cosponsor?

Thank you kindly and Happy Easter!

[KayDeeCee 4,893]

Hi again,

My 2011 earnings after deductions on line #22 is: $20,395.00 I listed a family member as a dependent but they don't live in the same household. Will my income be enough for affidavit of support? For AOS, how much money would I need in bank so avoid using cosponsor?

Thank you kindly and Happy Easter!

If you have a dependent listed on your taxes, then they are counted. So, with you, your dependent and your fiancee, you need $23,862 for a household of 3: http://www.uscis.gov/files/form/i-864p.pdf

As I stated in my earlier post in this thread: "Assets must equal 3x the amount you fall short in income. Just for example, if you needed $20K but you only made $18k, you need 3x the $2k you are missing, or $6k in assets." - You are short $3467. You will need at least 3x that amount.

[JimVaPhuong 4,863]

Yes, i agree the 134 is optional for the consulate, which i stated above (which require 134)... It is a dis-service to suggest a USC making 0% and foreign alien making 200% (or have excessive assets) could not get visa based on foreign alien income or assets, which will meet or exceed the future 864 requirements (in which they will be co-applicants)

Consulates usually apply a restrictive version of the I-864 rules when evaluating an I-134 for a K visa. This means they apply the same basic set of rules, but don't allow some things that would otherwise be allowed with an I-864. It's difficult to give concrete advice for the I-134 because even Department of State doesn't provide concrete rules for the consulates, whereas the I-864 has concrete rules in both law and policy. However, I'm not aware of any circumstance where they allow something with an I-134 that they would not allow with an I-864.

The I-864 only permits the alien's income to be considered if it will continue from the same source after the alien becomes a permanent resident. This is not the case for the overwhelming number of aliens applying for a K1 visa, who will have to quit their jobs before coming to the US.

The I-864 does allow the alien's assets to be considered, but most consulates will not consider them when evaluating an I-134. I do know that the US Embassy in London is an exception, and there are probably others as well. Those consulates have devised methods for the alien to declare this information. Most other consulates don't provide a method for the alien to declare their assets, and the I-134 doesn't provide a way to do this.

BTW, you can pretty much ignore the instructions for the I-134. They were written by INS before the Illegal Immigration Reform and Immigrant Responsibility Act of 1996. At that time, the I-134 was the primary affidavit of support used by both INS and Department of State. However, because the contract portion of the I-134 was written by a bureaucrat instead of a lawyer, it was held as unenforceable in multiple court cases. The IIRIRA Act required a legally enforceable affidavit of support, and laid down concrete rules for sponsor qualifications which became section 213A of the INA. INS (now USCIS) stopped using the I-134 at that point. Department of State still uses it as a screening tool for the public charge determination for some types of visas, but because there are no laws or department wide policies regarding it's use each consulate makes it's own rules.

With a K visa, the consulate wants to see a sponsor who will be able to sign a sufficient I-864 when it comes time for the alien to adjust status in the US. They look at the sponsor's financial documents for this. The I-134 is little more than a cover sheet for those financial documents. The consulate isn't bound by the terms in the form's instructions.

Also, when it comes time to submit an I-864, the primary sponsor is always the primary sponsor. The alien can contribute income (if it's qualified) and assets to help the sponsor qualify, but that doesn't shift any of the burden away from the primary sponsor, or make the sponsor and the alien "co-applicants". The sponsor will be the only person signing the I-864. The alien doesn't sign it or have to agree to it's terms.