I-864 self employed NEED HELP!!!!

[happyblah 1]

Hi VJ!

Please help me out here. Me and my husband are filing for green card for me. He is a self employed and his 1040 line 22 is more then sufficient for the last 3 years.However his bisness been at loss each year and his income mainly maintenance from retirement and investments. Would there be any problems? Can we just add his business license and bank account with like few thousands dollars on it?

Like I said his line 22 been fine for 3 last years but there no income from business.Help please!

[KayDeeCee 4,896]

They base the 125% requirement off line 22 of the 1040. That is total income. You meet the 125% with personal income from that line, not business income. If he has enough income listed on line 22 of his most recent 1040, then that is what matters. If some of the income listed there came from other sources, then provide proof of those sources as well.

[Gary and Alla 3,694]

Hi VJ!

Please help me out here. Me and my husband are filing for green card for me. He is a self employed and his 1040 line 22 is more then sufficient for the last 3 years.However his bisness been at loss each year and his income mainly maintenance from retirement and investments. Would there be any problems? Can we just add his business license and bank account with like few thousands dollars on it?

Like I said his line 22 been fine for 3 last years but there no income from business.Help please!

They go by line 22. Sleep well.

[happyblah 1]

I just read here that they need verify current employment and pay stubs. My husband has his busness license and personal checking account with current balance of few -10 thousands plus recent tax returns with 43,000$ 60 ,000$ and 21 000$ (3rd year) in line 22. Is this enough? (even though there is no income from busness itself)

[KayDeeCee 4,896]

I just read here that they need verify current employment and pay stubs. My husband has his busness license and personal checking account with current balance of few -10 thousands plus recent tax returns with 43,000$ 60 ,000$ and 21 000$ (3rd year) in line 22. Is this enough? (even though there is no income from busness itself)

Getting a letter from your employer and providing pay stubs is for someone that is an employee to prove their current income. Those that are self-employed only need their taxes to prove their income. If there is only the 2 of you, as in he has no other dependents, then for a household of 2, he just needs to show at least $18,912 on line 22 of his 2011 1040.

[Darnell 8,479]

i think you'll be ok with the taxes,

however, do not forget 'current annual income' as well.

if you need an offset, the cash in the bank can make up the difference, using the math in the I-864 instructions.

[happyblah 1]

Well the current employment is my concern. We dont wanna use our assets and collect a 100 more documents. His taxes returns are more then good. He does have money coming in almost each month. Does his qualified tax returns , current business lisence and bank statments with few thousand each months are good enough???

[Darnell 8,479]

i know of no way to waive the 'current annual income' block, at all, in the I-864, unless one either 'shows something' , say perhaps two quarters of a cpa's income and loss (audited) statement or gets a co-sponser.

the cool thing about 'current annual income' is that it's all income, before taxes, and for a self-employed person, that's before business deductions as well. (It's not 'current employment' at all, to use your term - that's just the wrong label for it - it's 'current annual income'... )

So you probably can make income statements, from January to August (full months) then show the PROJECTIONS for September to December. Ya gotta show 'annual' for this 'current annual income', so that's really 12 months of 2012 - even with 'booked' vs 'projections'.

Good Luck !

Edited September 8, 2012 by Darnell