I-134 Will cash in account substitute for current year tax returns..?

[walran 24]

Before you answer

I haven't researched this in depth yet and will have my business partner do a co-I134 but the situation is that we had a computer & backup melt down and my accountants are struggling to rebuild the accounts for 2014 as taxes should have been filed in October they will happen in Feb I think.. Taxes have been paid but we need the paperwork and they are rebuilding millions of dollars ( wish they were all mine to keep in receipts etc.

So my question is in two parts:

Part One:

In Utah 125% of the poverty level is about $22,000

If I show on a personal account say $100,000 for example could I get around the requirement of having an additional I-134 by my business associate or my parents?

Part Two:

How much do I really need to show? I have several business and a number of properties but it is a pain to go through them all and list them. Am I required to show everything??

At this point I am kind of wishing I was W2 and still driving for UPS....

[baron555 934]

Assets need a certified appraisal performed and documented, more than you just listing them.

Current income documentation is key, even for cosponsors. Your associates have no means to show current income? Doesn't matter about past returns, those are just gravy.

[walran 24]

Assets need a certified appraisal performed and documented, more than you just listing them.

Current income documentation is key, even for cosponsors. Your associates have no means to show current income? Doesn't matter about past returns, those are just gravy.

My associates can, and my father can. And I can show income, cash, certified appraisals but am worried my 2014 tax return won't be filed before the interview..And don't want to be wait listed or denied on that basis.

My dad is a retired professor on about $70,000 a year with just my mom as a dependent so should meet the requirement and has the tax return. Can get the bank to write the letter etc. with statements.

My associate would be probably $250,000 TI but has 4 kids and wife. and and bank can write the letter etc. and he as a tax return.

My issue has been the tax returns.. I can get 1099's etc showing income well in the six figures but not the tax return I was just hoping not to bother them with the paperwork and scanning the tax returns etc.

Maybe I am looking at this wrong//??

I was thinking I had to convince them that we had more than enough means but if the 125% rule is all that is required then maybe just a simple 134 from me with bank statements, 1099's, property listed on an appraisal and dad's W2 and tax returns with bank statements.

Trying to keep it the easiest possible I guess for family/friends and then myself.

[RobertM54 36]

My issue has been the tax returns.. I can get 1099's etc showing income well in the six figures but not the tax return I was just hoping not to bother them with the paperwork and scanning the tax returns etc.

Have you been paying your taxes?

Do they accept the documentation that you have paid? - irrespective of filing status?

[walran 24]

Have you been paying your taxes?

Do they accept the documentation that you have paid? - irrespective of filing status?

Absolutely..I pay in advance and throughout the year but I don't know..

[baron555 934]

Current income is the key.

Former students don't have any prior year tax returns and they get approved no problem.

Current income is key (deja vue all over again!).

[RobertM54 36]

Absolutely..I pay in advance and throughout the year but I don't know..

IIRC, when I was self employed, it was an EFT from my bank account.

The most telling amount would be the FICA you are paying.

So the forms plus the payments should tell a good story.