Proof of income self employed question

[Epiphany 0]

Can I just send my long-forms or do I need a transcript?

How many years worth?

Do they look at gross or net?

Thanks........

[YuAndDan 153]

Tax transcripts work best, you can get them from IRS and only need past year (2006) but can provide 3 years worth if you feel it will help.

http://www.irs.gov/faqs/faq1-6.html

They want gross income, before taxes.

EVIDENCE OF SUPPORT. You should be able to demonstrate that you will not become a public charge or be a burden on the U.S. taxpayers for financial support. Submit your petitioner's most recent U.S. Federal income tax return (Form 1040) and wage statements (Form W-2). Employment letters stating salaries and bank statements may be included. A completed I-134 Affidavit of Support Form will be useful to the consular officer to evaluate your petitioner's ability to be financially responsible for you.

http://manila.usembassy.gov/wwwfivk1.pdf Edited June 13, 2007 by YuAndDan

[Yodrak 7]

Epiphany,

What do you mean by "gross or net"?

They want your gross personal income, not your business's income. Line 22 on the Form 1040.

Yodrak

Can I just send my long-forms or do I need a transcript?

How many years worth?

Do they look at gross or net?

Thanks........

[Milenka 0]

Just to clarify, on the line asking for the annual income we put the gross annual income (personal)? And if there are two people in that household working, do we put a combined amount? They file together but just one of them is the sponsor. Also at the moment we don't have the 2006 report just 2005 and 2004, but we have a note from the account saying it will be filed before the "deadline" in the US, since the income increased, the note is on her letterhead. Sorry for hijacking the thread, but didn't want to start another "Affadavit of Support" thread...

[Yodrak 7]

Milenka,

Sponsor's income. There's no interest in the income of a person who is not sponsoring.

Yodrak

Just to clarify, on the line asking for the annual income we put the gross annual income (personal)? And if there are two people in that household working, do we put a combined amount? They file together but just one of them is the sponsor. .....

[Dakine 26]

They want your "adjusted gross income"As some said! Tax transcripts are best as they show you did file and pay.

Anyone can make out a 1040 and submit it to USCIS without even submitting it to IRS.

W2s and 1099s are really the only things that show you at least made the dough.

If there is a question tho USCIS can require you to get tax transcripts.

I've "heard" USCIS may require tax transcripts in the future.

May as well get at least 3 years while you're getting them.

They required 3 years taxes when we were doing AOS.

Did for me and I think it was because I'm self employed.

You can get tax transcripts for free . Call 1-800 829- 1040. 24/7 automated. Took 7 days for me to get them!

Aloha

Edited June 13, 2007 by beckypua

[Epiphany 0]

They want your "adjusted gross income"As some said! Tax transcripts are best as they show you did file and pay.

Anyone can make out a 1040 and submit it to USCIS without even submitting it to IRS.

W2s and 1099s are really the only things that show you at least made the dough.

If there is a question tho USCIS can require you to get tax transcripts.

I've "heard" USCIS may require tax transcripts in the future.

May as well get at least 3 years while you're getting them.

They required 3 years taxes when we were doing AOS.

Did for me and I think it was because I'm self employed.

You can get tax transcripts for free . Call 1-800 829- 1040. 24/7 automated. Took 7 days for me to get them!

Aloha

Thanks, had to guess what ext but guessed correctly.

They want your "adjusted gross income"As some said! Tax transcripts are best as they show you did file and pay.

Anyone can make out a 1040 and submit it to USCIS without even submitting it to IRS.

W2s and 1099s are really the only things that show you at least made the dough.

If there is a question tho USCIS can require you to get tax transcripts.

I've "heard" USCIS may require tax transcripts in the future.

May as well get at least 3 years while you're getting them.

They required 3 years taxes when we were doing AOS.

Did for me and I think it was because I'm self employed.

You can get tax transcripts for free . Call 1-800 829- 1040. 24/7 automated. Took 7 days for me to get them!

Aloha

Sorry to be so daft but adjusted means NET income. Example I earn 100k and have 30k write offs my adjusted is 70k?

[Yodrak 7]

Epiphany,

Look at a form 1040. Line 22 is total income, line 37 is adjusted gross income. Your income that you can report on an affidavit of support is the number on line 22.

(And is that number $70,000?)

Yodrak

They want your "adjusted gross income"As some said! Tax transcripts are best as they show you did file and pay.

Anyone can make out a 1040 and submit it to USCIS without even submitting it to IRS.

W2s and 1099s are really the only things that show you at least made the dough.

If there is a question tho USCIS can require you to get tax transcripts.

I've "heard" USCIS may require tax transcripts in the future.

May as well get at least 3 years while you're getting them.

They required 3 years taxes when we were doing AOS.

Did for me and I think it was because I'm self employed.

You can get tax transcripts for free . Call 1-800 829- 1040. 24/7 automated. Took 7 days for me to get them!

Aloha

Sorry to be so daft but adjusted means NET income. Example I earn 100k and have 30k write offs my adjusted is 70k?

[Dakine 26]

Epiphany,

Look at a form 1040. Line 22 is total income, line 37 is adjusted gross income. Your income that you can report on an affidavit of support is the number on line 22.

(And is that number $70,000?)

Yodrak

They want your "adjusted gross income"As some said! Tax transcripts are best as they show you did file and pay.

Anyone can make out a 1040 and submit it to USCIS without even submitting it to IRS.

W2s and 1099s are really the only things that show you at least made the dough.

If there is a question tho USCIS can require you to get tax transcripts.

I've "heard" USCIS may require tax transcripts in the future.

May as well get at least 3 years while you're getting them.

They required 3 years taxes when we were doing AOS.

Did for me and I think it was because I'm self employed.

You can get tax transcripts for free . Call 1-800 829- 1040. 24/7 automated. Took 7 days for me to get them!

Aloha

Sorry to be so daft but adjusted means NET income. Example I earn 100k and have 30k write offs my adjusted is 70k?

Sure does but if you look on your ITR there isn't any NET income. It says Adjusted Gross Income!! Which is the same as NET!!!

[Yodrak 7]

beckypua,

No, they do not. They want line 22 on the form 1040, which is labeled "total income".

Yodrak

They want your "adjusted gross income"....

[Dakine 26]

beckypua,

No, they do not. They want line 22 on the form 1040, which is labeled "total income".

Yodrak

They want your "adjusted gross income"....

You may be correct for people not self employed but to "my" limited knowledge people that itemize and are self employed use their adjusted [net] income.

So you are saying if I had a total income of 30 K and had 20K in writeoffs and netted 10K and paid taxes on such .

USCIS would use the 30K as the amount for meeting the financial requirement?

Could be but doesn't seem right as you would only have 10 K to exist and support yourself and family on!

USCIS does strange things tho!

[Dakine 26]

beckypua,

No, they do not. They want line 22 on the form 1040, which is labeled "total income".

Yodrak

They want your "adjusted gross income"....

You may be correct for people not self employed but to "my" limited knowledge people that itemize and are self employed use their adjusted [net] income.

So you are saying if I had a total income of 30 K and had 20K in writeoffs and netted 10K and paid taxes on such .

USCIS would use the 30K as the amount for meeting the financial requirement?

Could be but doesn't seem right as you would only have 10 K to exist and support yourself and family on!

USCIS does strange things tho!

Thanks for the info Yodrak!

Thanks to you I will do a 1040x ammended return since I didn't take as many writeoffs as I could have.

Heck my accountant can get my adjusted gross income down to almost nothing.

I'll end up getting quite a bit of dough back!

What's your cut?

[Ki. 0]

You may be correct for people not self employed but to "my" limited knowledge people that itemize and are self employed use their adjusted [net] income.

So you are saying if I had a total income of 30 K and had 20K in writeoffs and netted 10K and paid taxes on such .

USCIS would use the 30K as the amount for meeting the financial requirement?

Could be but doesn't seem right as you would only have 10 K to exist and support yourself and family on!

USCIS does strange things tho!

Yodrak seems to have cleared this up already, but just a heads up - for self-employed USCIS would definitely go on the 10k figure, not the 30k. I learnt this the hard way, as the US embassy only picked up on the mistake we made with our affidavit once I was stood at the window for my interview. Hopefully this can save somebody else the tedium of 221g!

[Yodrak 7]

beckypua,

Get our a form 1040 and a Schedule C and fill in the numbers where they belong. The number that is on line 22 of the form 1040 is the number to use for your personal income.

I expect that the $30,000 and the $20,000 that you mention do not show up on the 1040, but rather on the Schedule C.

Again - it's the personal income, not the business income, that is of interest. The personal income is what is left over after the business has paid its' expenses and taken its' write-offs.

Yodrak

beckypua,

No, they do not. They want line 22 on the form 1040, which is labeled "total income".

Yodrak

They want your "adjusted gross income"....

You may be correct for people not self employed but to "my" limited knowledge people that itemize and are self employed use their adjusted [net] income.

So you are saying if I had a total income of 30 K and had 20K in writeoffs and netted 10K and paid taxes on such .

USCIS would use the 30K as the amount for meeting the financial requirement?

Could be but doesn't seem right as you would only have 10 K to exist and support yourself and family on!

USCIS does strange things tho!