i-864 annual earnings when a business owner?

[rachel&andy 0]

Hi Everyone,

This is my first post so go easy! I'm filing DCF from London. I run my own business, and have for 2 years. I have filed returns in the US for every year I've lived here. My question is regarding form i-864 line 23: "My current annual income is" -- Because I run a limited company my accountant has me pay myself the minimum rate e.g. £5,715. This covers the UK fiscal year from April 1, 2010 to March 31st 2011. I know that my business income won't cover the sponsorship reqs anyway because I don't think I can convince the embassy that my income will continue after we move. We are using my Dad as a joint sponsor.

My question: in that box do I list $9,273? (the currency converted to US). It just seems like such a low number that we will be turned away, even with my Dad as joint sponsor. My husband has savings in his name of about £23,000 (e.g. about $37,000). I don't want us to be denied because my salary looks like bupkis.

Thanks,

Rachel

[Darnell 8,479]

do you have an income statement from a chartered accountant, covering either YOU or the BUSINESS?

[rachel&andy 0]

do you have an income statement from a chartered accountant, covering either YOU or the BUSINESS?

Hi there,

yes, we have both. In the UK I do a personal tax return as well as a business tax return. On the i-864 it clearly states that a business cannot sponsor an immigrant, so it appears that only my personal returns would be relevant, not the business ones. But I do have both and could include them in our package.

[JoannaV 174]

With your father sponsoring it really does not matter what your I-864 shows.

[mllover 0]

You filed taxes in the US, correct? For you and the joint sponsor, taxes must be filed in the US for the past 3 years.

They will only look at US filed returns, not foreign returns. I think you probably know that. If you excluded your foreign income to avoid paying US tax when already paying another country,

then your US income will show $0. So you need the joint sponsor to have US income, filed, and be able to cover all of you and his current household for the poverty guideline x 125%.

Your income at that point won't matter.

[Anh map 2,098]

Your income as a self employed person is line 22 of your 2010 form 1040 tax return.

[Darnell 8,479]

ya, my stuff is a bit different, I have corporate structure, I am not self-employed.

I not pay myself salary for many years, company is full o cash and assets.

I paid myself a nice salary last year, and put cash in an equity account, in my name, as well, to cover both bases, knowing full well I'm gonna get dinged at GUZ IV.