In lieu of income

[Chubby&Cutie 0]

Hello all,

I am a building super in NYC since 2011. In exchange for salary, I am given an apartment that is worth over $4000 a month in rent. It is in equivalent to 48k in income. My lawyer's office says that I still need a joint sponsor since that my w2's from 2011, 2013 aren't sufficient. Any advice? Is this true? I have a friend willing to be a sponsor, however, now my wife and my situation is getting more complicated. I wish I was still working as a GM of a restaurant, like I was in 2012, but at that time I was clocking in over 65 hours a week between the super job and being a head chef.

Thanks,

Chubby and Cutie.

[xjoseyx 19]

Yes Id imagine you will have to have a co-sponsor. Having an apartment worth $4000 isn't an income. USCIC and the goverment need to see actual income figures to prove you can support your fiance.

[Cathi 5,757]

that doesn't count as income, you will need a joint sponsor

[Chubby&Cutie 0]

I read at a site that housing can be counted as income...so my situation still doesn't work. If so bummers...although my close friend is willing to help, I do wish that my housing can be accounted for. Thank you for the replies, we will be researching!

Edited April 8, 2015 by Chubby&Cutie

[CowBoE 429]

In the context of Affidavit of Support, the "Asset" is something that has quantifiable value

that you fully or partially own. In other words, you can liquidate it for cash.

Though you say, this apartment is "given" to you.

By "given", I think you meant, someone is kindly letting you leave their rent-free?

If so, that is "benefit" that you are receiving, and it's neither "income" or "asset".

Think of it in another way like this...

If your rich buddy owned an expensive golf course, and he let's you play there free of charge everyday.

And if each round typically costs $100, you couldn't count that as $100 income nor as an annual asset of

$100 x 356 days = $35,600. That's just freebie benefit.

That said, if you have "head chef" level of skills, it shouldn't be too difficult to

get over the required $20k or so income requirement...especially in NY

where the pay rate is much higher than rest of the nation.

My son attends college (Columbia Univ.) in NY and he earned nearly $20k working part time

while going to school full-time.

At the worst, find a co-sponsor.

[Dave&Roza 748]

Hello all,

I am a building super in NYC since 2011. In exchange for salary, I am given an apartment that is worth over $4000 a month in rent. It is in equivalent to 48k in income. My lawyer's office says that I still need a joint sponsor since that my w2's from 2011, 2013 aren't sufficient. Any advice? Is this true? I have a friend willing to be a sponsor, however, now my wife and my situation is getting more complicated. I wish I was still working as a GM of a restaurant, like I was in 2012, but at that time I was clocking in over 65 hours a week between the super job and being a head chef.

Thanks,

Chubby and Cutie.

The IRS considers this income and you should be declaring this on your tax return and paying taxes on this money. Since it would apprear that you are not claiming this as income on your tax return, then you will need to find a joint sponsor. Your other option is to file admended tax returns claiming the rent benefit as income and paying the taxes, penalty and interest you owe. Of course this will require the landlord to have to file the correct forms for you with the IRS--1099-MISC or they may be able to include it on your W2--and the IRS may suddenly take a closer look at their tax situation and yours.

Then your adjusted income would be well over the 125% of the poverty level, but you would have to pay taxes on it as you should. Think of it this way, you are making $48,000 in income that is going rgiht back to your employer for your living expenses. If you did not have the apartment paid for by your employer than you would need to use your income to make the rent payments. I do not know why your employer does not include this as a benefit of employment as it is a benefit of employment with a known monatary value. Employers that furnish a company car must report to the IRS as it is a taxable benefit. Your rent is a taxable benefit.

Dave

Edited April 8, 2015 by Dave&Roza