I-864 For Self Employed

[KBcrand1 1]

[quote name=NVC FAN ' timestamp='1281058212' post='4112468]

Ravens

I am self employed too, satelite contractor. i too use turbotax to do my taxes each year, so i understand what your going through.

You will use your AGI ajusted gross income. it should be listed on the summary sheet on turbo tax (the first page that prints)

as for the credits i know how easy it is to keep digging and diggin till you owe nothing! but this does not help your situation. i planned 2 years in advance prior to my fiancee coming to usa,. i basically made my AGI what i needed it to be and what the goverment required it to be. sure i paid a few dollars in.

I dont know if maybe you can ammend your taxes, or maybe you should postpone till feb of next year. then plan accordingly!

gl

DAMN! Now I know what I have been doing wrong all these years....

AGI is what they want to see on the I-864. The sad part is, we are self employed, we work just as hard and in my case, harder and longer then most people.... and the benefits ???? thats another topic. Try using some Assets to obtain the magic number.

[Anh map 2,098]

Reading in the Adjudicator's Field Manual you see reference to Line 22 of the Form 1040 when establishing the income.

Here is a quote from page 19 of one document ( Consolidation of Policy Regarding Form I-864 ) from the USCIS site:

(D) Federal Tax Return(s). No matter whether a sponsor submits Form I-864 or I-864EZ, the sponsor must provide a copy or an IRS-generated transcript of the sponsor’s Federal income tax return for the sponsor’s most recent tax year. Each Federal tax return must include all the supplements and attachments that were sent to the IRS with the tax return. For purposes of demonstrating means to maintain income, the determining income amount is the income, before deductions, on the sponsor’s income tax return. In other words, income means an individual's total income (adjusted gross income for those who file IRS Form 1040EZ) for purposes of the individual's U.S. Federal income tax liability, including a joint income tax return (e.g., line 22 on the 2005 IRS Form 1040, line 15 on the 2005 IRS Form 1040-A, or line 4 on the 2005 IRS Form 1040EZ or the corresponding line on any future revision of these IRS Forms).

[LotofPatience 65]

Reading in the Adjudicator's Field Manual you see reference to Line 22 of the Form 1040 when establishing the income.

Here is a quote from page 19 of one document ( Consolidation of Policy Regarding Form I-864 ) from the USCIS site:

(D) Federal Tax Return(s). No matter whether a sponsor submits Form I-864 or I-864EZ, the sponsor must provide a copy or an IRS-generated transcript of the sponsor's Federal income tax return for the sponsor's most recent tax year. Each Federal tax return must include all the supplements and attachments that were sent to the IRS with the tax return. For purposes of demonstrating means to maintain income, the determining income amount is the income, before deductions, on the sponsor's income tax return. In other words, income means an individual's total income (adjusted gross income for those who file IRS Form 1040EZ) for purposes of the individual's U.S. Federal income tax liability, including a joint income tax return (e.g., line 22 on the 2005 IRS Form 1040, line 15 on the 2005 IRS Form 1040-A, or line 4 on the 2005 IRS Form 1040EZ or the corresponding line on any future revision of these IRS Forms).

Anh map, thanks a lot!

AGI is used only for 1040EZ filers.

For the rest, the total income is considered, after applying the schedules such as C, D, E, K1 etc. So, the self-employed people are NOT escaping from the huge business deductions that bring down their total income less than the poverty line threshold.

Now I am clear! Thank you!

Loto

[Anh map 2,098]

Anh map, thanks a lot!

AGI is used only for 1040EZ filers.

For the rest, the total income is considered, after applying the schedules such as C, D, E, K1 etc. So, the self-employed people are NOT escaping from the huge business deductions that bring down their total income less than the poverty line threshold.

Now I am clear! Thank you!

Loto

The exciting discussions that one finds here on VJ

[KBcrand1 1]

Now, I have probably a stupid question......

The tables listed on I-864P, are they the actual poverty levels, and you must make 125% more than those poverty levels? or is the number listed on I-864P the magic number you must at least make anually corresponding to the number of "household size" as what you currently have plus what you will be sponsoring?

[Ravens 8]

Now, I have probably a stupid question......

The tables listed on I-864P, are they the actual poverty levels, and you must make 125% more than those poverty levels? or is the number listed on I-864P the magic number you must at least make anually corresponding to the number of "household size" as what you currently have plus what you will be sponsoring?

The number showing is what you must be able to prove you make.

[LotofPatience 65]

Now, I have probably a stupid question......

The tables listed on I-864P, are they the actual poverty levels, and you must make 125% more than those poverty levels? or is the number listed on I-864P the magic number you must at least make anually corresponding to the number of "household size" as what you currently have plus what you will be sponsoring?

You should pick the amount under 125% of poverty line that matches your household. It is straighforward and this must be your threshold.

I-864P latest is for 2009 guidelines. Wait for 2010, it may be little higher.

Loto

[KBcrand1 1]

You should pick the amount under 125% of poverty line that matches your household. It is straighforward and this must be your threshold.

I-864P latest is for 2009 guidelines. Wait for 2010, it may be little higher.

Loto

I don't have a problem making those, but, if you read the wording on the instructions for, it states you must meet 125% OF THE FEDERAL POVERTY GUIDELINES , then you start questioning, hmmmm did I do that right? I do a google search for federal poverty guidelines and come up with numbers for 2008, which were about the same numbers as those in I-864P. Geez........ when I went to school, and I won't mention how many years ago, the word OF meant X, and if the guidelines are "y" dollars, then 125% of poverty would mean Y x 125%....

Thanks for the answers, I feel much more at ease now.

[LotofPatience 65]

I don't have a problem making those, but, if you read the wording on the instructions for, it states you must meet 125% OF THE FEDERAL POVERTY GUIDELINES , then you start questioning, hmmmm did I do that right? I do a google search for federal poverty guidelines and come up with numbers for 2008, which were about the same numbers as those in I-864P. Geez........ when I went to school, and I won't mention how many years ago, the word OF meant X, and if the guidelines are "y" dollars, then 125% of poverty would mean Y x 125%....

Thanks for the answers, I feel much more at ease now.

KBcrand1, please don't do googling to get the latest form :-) Rather, go to the USCIS website which has the latest and authentic.

http://www.uscis.gov/portal/site/uscis/menuitem.5af9bb95919f35e66f614176543f6d1a/?vgnextoid=73c63591ec04d010VgnVCM10000048f3d6a1RCRD&vgnextchannel=db029c7755cb9010VgnVCM10000045f3d6a1RCRD

Under first column they have listed 100% povertyline, next column is 125% of the povertyline which is the one most of us are using.

Hope this helps out!

Loto

[KBcrand1 1]

it does, ya know, second guessing....... I'm sure you've done it..... even after triple checking everything.....ya still think ya might have made a mistake.....

[LotofPatience 65]

it does, ya know, second guessing....... I'm sure you've done it..... even after triple checking everything.....ya still think ya might have made a mistake.....

:-) :-) :-)

No KBcrand1, you have not made any mistake! I am sure you make money much more than the threshold :-)

Loto

[KBcrand1 1]

just wish I made more........seem's I'm working to line the pockets of Uncle Sam and Aunt Rell.

or maybe I should have said Uncle Obama.......

[LotofPatience 65]

just wish I made more........seem's I'm working to line the pockets of Uncle Sam and Aunt Rell.

:-)

[LotofPatience 65]

just wish I made more........seem's I'm working to line the pockets of Uncle Sam and Aunt Rell.

or maybe I should have said Uncle Obama.......

Being an old CT-ian, I feel most CT people are rich :-) Jodi Rell just collects a part of it :-)

Loto

[KBcrand1 1]

Being an old CT-ian, I feel most CT people are rich :-) Jodi Rell just collects a part of it :-)

Loto

LOL, but the democrats get the rest!