need help with I864

[helpnfl 0]

Hello and thank anyone that can answer ths question for me i just received after paying the I864 to send in but i am concerned about filing it i have only filed a 1040 last year for my taxes i didnt incorporate or anything is this going to hurt us?i read i just need to add a Profit and loss statement with it is this true any help would be appreciated thank you

[Darnell 8,479]

you are self employed?

did a Schedule C with the 1040 ?

Or is something else?

usually, an 'audited income statement' from a CPA is sufficient when yer self-employed, tagging on to the 1040 and schedule C. The 'audited income statement' will show current year (2010) and the tax returns will show prior year (2009 and before).

If yer not self-employed, I don't understand the question.

Edited September 22, 2010 by Darnell

[helpnfl 0]

you are self employed?

did a Schedule C with the 1040 ?

Or is something else?

usually, an 'audited income statement' from a CPA is sufficient when yer self-employed, tagging on to the 1040 and schedule C. The 'audited income statement' will show current year (2010) and the tax returns will show prior year (2009 and before).

If yer not self-employed, I don't understand the question.

i am self employed and wanted to make sure when filing my I864 my 1040 for self employment was enough for NVC cented for my wifes visa thank you

[BigSigh 12]

helpnfl- As long as your line #22 on the 1040 is sufficient, you are good to go. Like Darnell said, you need to include the Schedule C because you are self employed.

[LotofPatience 65]

Also, attach Schedule C with 1040 when you submit with I-864.

Loto

Edited September 22, 2010 by LotOfPatience

[Darnell 8,479]

ya, if yer doing an I-864 soon -

and yer self-employed -

then the tax return covers 2009 income

but what about current, 2010 ?

You mentioned a profit and loss statement - that'd certainly cover 2010 income (current income), even the monthly/year-to-date formats.

I like 'audited income statement' from a CPA, as well, perhaps 'instead of' -

as there's an official stamp from the CPA on the document.

if you are using a CPA, inquire about both, though - and regardless -

ya gotta show something for 2010 income with the I-864 -

2009 and prior is 'handled' already with the tax returns...

if you are required to file quarterly returns, then show the last 2 or 3 quarterly returns for 2010, that will be 'just as viable' as an 'audited income statement'.

Good Luck !

[helpnfl 0]

Thank you all for the details this is so overwhelming i lost my job and miss my wife so much i am working as a handyman and trying to make ends meet it is hard so i am trying this journey on my own thanks for the help

David

[BigSigh 12]

Good luck David!

[helpnfl 0]

for the people that answered me.... On the back of my 1040 is something caled a schedule SE is this what i need? And should this be sufficient for my wifes I864? i just want to make sure when I send the I864 there is no delay

thank you

Edited September 23, 2010 by helpnfl

[Darnell 8,479]

fwiw, when sending in a 1040 (as opposed to a tax transcript)

send in EVERYTHING that you filled out.

Worksheets and tables not necessary, but anything else? if you filled it out, send it.

[helpnfl 0]

fwiw, when sending in a 1040 (as opposed to a tax transcript)

send in EVERYTHING that you filled out.

Worksheets and tables not necessary, but anything else? if you filled it out, send it.

Darnell thank you for your quick response I have the 1040 i sent to IRS and the schedule SE was attached to the last pages of this should i send the entire 1040 package in? thank you for your help

thank you

Edited September 23, 2010 by helpnfl

[Darnell 8,479]

if you qualify for the I-864EZ, by all means, use it. Review the instructions, there's some guidelines there on whether or not you can use it.

[LotofPatience 65]

for the people that answered me.... On the back of my 1040 is something caled a schedule SE is this what i need? And should this be sufficient for my wifes I864? i just want to make sure when I send the I864 there is no delay

thank you

Schedule SE is Self Employment Tax. Self employed people will pay 2*(6.2%+1.45%)=15.3% of FICA taxes. Then half of it can be deducted while computing the AGI.

Attach all the paperwork done in your 1040.

Self employed person can NOT use I-864EZ. You need to use regular I-864.

Loto

[helpnfl 0]

Thank you for the help

[LotofPatience 65]

Thank you for the help

It looks like you haven't filled out Schedule C. Instead you have reported your income in 1099. Right?

Loto