I864 Self-employed concerns and questions

[Groundhog 0]

Hi Visa Journey,

I am in the process of sponsoring my wife’s green card through the I-130 process. We have been married for a year and I have a few questions regarding the I-864 Affidavit of Support. I am debating on whether I should engage a lawyer to assist me for this process or not.

I have been mostly self-employed and my income is primarily from 1099 Misc rather than W2. My wife works overseas and she has savings in her home country. For the past 3 years, my tax returns have had a total income in the $19,000 plus range, which is at least the minimum requirement of 125% of the poverty guideline.

If we choose to delay the filing for next year, the majority of my income for 2012 tax year will be in the 1099 Misc form because I'll be traveling frequently this year to be with my wife in 2-3 months stretches. The work I'll be doing will be consulting-type jobs where I will not have the traditional W-2's again. I work strictly with cash for these types of jobs because of negative past experiences dealing with payment.

I also don't have a joint-sponsor that I can rely on, so it'll be the sole sponsor for her.

----- Some questions -----

1. The way I read the I-864 instructions is that even if I have zero or little income for the year we file with USCIS, as long as our combined savings is over $60k in the bank (we currently have), we should be deemed to have sufficient financial resources for a 2-person household, am I right? I am referring to the 3 times of the gap rule for sponsoring a spouse.

2. For these joint savings, will a bank statement from my wife’s bank overseas suffice, or do we have to transfer all her savings to a U.S. bank account? I am aware of rule where 1/3 of the total value is counted if claimed by the petitioner, and only 1/5 being is counted if claimed by applicant.

3. As someone who works on a 1099 basis, how do I provide the 6 months’ pay stubs?

4. Can I just send USCIS my tax transcripts for the most current years instead of copies of the 1040's, or does the most recent tax return have to be photocopies and attachments of the original?

5. Am I missing anything important?

I thank you in advance for anyone who may be of help, and I am pleased to have found this site where it seems there is a real community of people dedicated to assist those who sometimes can be "voiceless".

[bigdog 376]

As long as you are over the poverty limit, savings does not apply. Just list joint accounts in either country,have the bank do a letter in US they have a form letter, amount in them is not important as far as i know. Your 1099 supply them and a letter of self employment with a copy of your taxes, If you have an employment contract for continued employment you might want to submit it also. i am not an expert on I 130 but if you complete all your information it will help in the future. Don't think you need an attorney unless there is something unusual. Lots of us started with one and were disspaointed, we did all the work they got paid. The VJ guides are very good and review the uscis site also.

[Groundhog 0]

As long as you are over the poverty limit, savings does not apply. Just list joint accounts in either country,have the bank do a letter in US they have a form letter, amount in them is not important as far as i know. Your 1099 supply them and a letter of self employment with a copy of your taxes, If you have an employment contract for continued employment you might want to submit it also. i am not an expert on I 130 but if you complete all your information it will help in the future. Don't think you need an attorney unless there is something unusual. Lots of us started with one and were disspaointed, we did all the work they got paid. The VJ guides are very good and review the uscis site also.

Thanks for the quick reply Bigdog.

First, I am sorry for the confusion, but I meant to say, "I am in the process of applying for my wife to become a permanent resident", and not I-130. The I-130 is pending and will be expedited soon. I believe we are dealing with a CR-1/IR-1 visa situation???

I am thinking about delaying the application until next year because my wife is happy with her current setup and delaying it a year would be beneficial financially for us in the long run, BUT my income will be solely through self-employment and MAY fall below the poverty limit. If this were to occur, I would need to show savings in addition to income. Hence, the reason for asking questions #1 and #2 in my original post.

How about question #4? Do I send all tax copies as transcripts? Send oldest ones as transcripts and most recent ones as copies, or send all as transcripts?

I invite any other members to chime in as well.

[Darnell 8,479]

you got any 'by quarter' income statements prepped by yer cpa?

IMO, 900K of revenue showing 19K of income better have some nice expenses and COGS floating around...

Edited March 21, 2012 by Darnell

[Groundhog 0]

you got any 'by quarter' income statements prepped by yer cpa?

IMO, 900K of revenue showing 19K of income better have some nice expenses and COGS floating around...

I'm not sure where the 900k figure came from?

I don't have a CPA, nor do I send in quarterly taxes because I don't have a set work schedule or any way of knowing how much work I'll have within a year. I report and pay my taxes annually using a tax software.

I work one on one with local clients, and I'm mainly cash based and self-employed. I've held a few traditional jobs in the last few years, but those income equate to no more than 1/3 of my total. As I mentioned before, we have enough savings to live off of for a while, but if I were to choose to go visit my wife more frequently this year, I would potentially be falling short on total earned income for 2012. I don't want to encounter problems when we file next year for adjustment of status.

Also, I was wondering about sending in legal tax transcripts instead of copies of every page of the 1040. The transcripts itemizes all of my information in one sheet anyhow. I was thinking this way, my lack of w-2's or other forms would not be a distraction to the point on hand-which is, I have potential to earn enough to support the two of us and have supplemental savings/assets for backup.

Since I don't have anyone to become a joint sponsor, I want to be prepared and avoid any delays. It's already very difficult having to live in two different places. If my wife didn't have work, I'd go ahead with the application right away.

I'm sorry if my questions were confusing, but I hope I've given a clearer picture of what I am asking and dealing with.

ANY information, or suggestions is greatly appreciated.

TIA

[sheeshkabelle 153]

I'm in your same boat. I'm an independent contractor. Some weeks we're eating steak, the next we're eating ramen noodles.

Since you are self-employed you send in either your transcripts or your tax returns, The WHOLE thing. If your returns are like mine their pretty hefty. You can order transcripts online at the IRS web site and you will get them in about 10 days. Six pages is a lot better than 26! In fact NVC prefers your Transcripts because it's all nice and neat and they don't have to go searching.

Since you will claim self-employment on the I-864 they know you don't have pay check stubs. When you're self-employed you take every tax break you can possibly get. They will go by your TOTAL income on the 1040 transcript, not the adjusted gross. That did help me out a little with my income.

Because it's lean times right now, and you do want to visit your wife more, I personally would include your savings. You have to have a letter from the bank signed by an official of what the balance is, and the average monthly balance. Most banks have a standard form for this kind of thing and they'll know what to do.

I think you're a little foggy on how the process works.

An I-130 is only a petition to ask if your wife can file for a visa. It's not the end of the process by any means.

If they approve the expedite (and you have to have a really really good reason for an expedite and send in proof for said expedite) of your I-130, you will still have to go through the National Visa Center and send all the forms and documents to them. This is where you send in the I-864 and send your tax information, and yes, pay more money. This is also when your wife applies for her Visa.

If you want it to take a little more time so your wife can work more, then don't file for an expedite, just go with the flow and wait on USCIS to do their thing. If you have my luck they'll take their sweet time and your I-130 won't be approved for 8 1/2 months.

After NVC is done, everything is approved and paid, it is then forwarded to the consulate in your wife's country and you are assigned an interview date. But wait! You're still not done! Before the interview your wife will have to have a medical evaluation by a US civil surgeon in her country, more forms and more money.

You still have months of waiting ahead of you. Plenty of time to prop up your savings some and order your transcripts.

After all your money is paid, your hands are cramped from sending forms and you pass the interview...

If you have been married less than two years by the time your wife enters the US, she will get a CR-1 conditional green card. Two years after that is when you have to remove conditions (ROC) and will again have to send financial information. Plenty of time to find more work.

If you have been married for more than two years she will get an IR-1 Visa which is a 10 year unconditional green card. You won't have to worry about anything for 10 years.

Keep in mind after three years of holding a green card and being married to a US citizen she can then apply for naturalization, she will be a citizen and you won't have to worry about USCIS,or homeland security poking into your business again.

Edited March 21, 2012 by sheeshkabelle

[sheeshkabelle 153]

you got any 'by quarter' income statements prepped by yer cpa?

IMO, 900K of revenue showing 19K of income better have some nice expenses and COGS floating around...

He's not an incorporated business with employees. He doesn't need a CPA or file quarterly taxes.

An independent contractor only employing themselves can file once a year like everyone else, only they use a 1099 misc. instead of a W2. He uses his tax returns for proof of yearly income.

[pushbrk 13,043]

Independent contractors are considered self employed. The "income" considered for immigration purposes can only come from line 22 of a 1040. Revenue and income are distinctly different in this context. Assets need not be disclosed when income is clearly sufficient but in borderline income cases, I recommend stating and documenting those assets. Delaying your process will have no negative impact provided you're continuing to see each other in person. Sounds like you do. If her arrival occurs more then two years after the marriage date, the benefit is a 10 year green card and avoiding removal of conditions.

[Groundhog 0]

sheeshkabelle: Thank you for the detailed reply. It was very helpful.

pushbrk: Thank you for verifying the income portion of the question.

I wonder whether we should transfer our savings into our U.S. bank accounts from abroad, or does it make little difference?

[pushbrk 13,043]

sheeshkabelle: Thank you for the detailed reply. It was very helpful.

pushbrk: Thank you for verifying the income portion of the question.

I wonder whether we should transfer our savings into our U.S. bank accounts from abroad, or does it make little difference?

The longer the money is in the same account in the USA, the better.

[sheeshkabelle 153]

sheeshkabelle: Thank you for the detailed reply. It was very helpful.

pushbrk: Thank you for verifying the income portion of the question.

I wonder whether we should transfer our savings into our U.S. bank accounts from abroad, or does it make little difference?

We kept ours in our joint Canadian account. We have Royal Bank of Canada with a linked US account so it's very easy to transfer the money. Canadians hardly ever get denials, and our process is cake.

Some have said it looks funny to the Consular Officials if you all of a sudden transfer money to a U.S. account. I think that entirely depends on what country you're filing in. I'm sure someone from China will have a better answer.

Good luck on your Visa Journey!

[Groundhog 0]

Good points on not transferring assets all at once.

Thanks for the insightful advice from all so far, and I'll add to the thread if I have further questions or concerns in the future...

What a process just to be with the one you love!

-Good luck to all those in their journey.

Edited March 22, 2012 by Groundhog

[Groundhog 0]

Hi all, and more specifically GUANGZHOU filers:

Since I am self-employed and I just started my business in 2011, I'm wondering what to put on line 23 of the I-864 (Current individual annual income)?

I'm thinking that I should put a number that is close to my 2011 filing for total income(1040, Line 22). Is this what is recommended that I do?

[sheeshkabelle 153]

Hi all, and more specifically GUANGZHOU filers:

Since I am self-employed and I just started my business in 2011, I'm wondering what to put on line 23 of the I-864 (Current individual annual income)?

I'm thinking that I should put a number that is close to my 2011 filing for total income(1040, Line 22). Is this what is recommended that I do?

For your current income, you list what you have made right now, your Year to Date amount.

Because you are self employed you filed a 1040, you put your TOTAL income from line 22 where it asks for past income from your US tax return.

[Anh map 2,098]

For your current income, you list what you have made right now, your Year to Date amount.

Because you are self employed you filed a 1040, you put your TOTAL income from line 22 where it asks for past income from your US tax return.

Current income should be your current annualized income, not year to date earnings. In the case of a self employed person you can put a comfortable projection, but (as stated previously) the number that will be used is line 22 from your most recent form 1040.