Self-employed help on I-864

[mastercard 3]

I need some advice on how i should fill out my I-864. I am co-owner of a restaurant. Our company is set up as a corporation in which I own shares. The tax returns for the corporation list me as "Director". However my personal tax returns list my occupation simply as "owner".

1. I have read that I-864 occupation should match *exactly* with tax returns. Should I just put "owner" as my occupation? Should I maybe put the corporation name in parentheses?

2. They ask for a business certificate for self-employed. What I have are Articles of Incorporation and the approval from the state for creating the corporation. Do these count as business certificates?

3. For self-employed they also ask for tax form Schedule C,D,E, or F. We have not filed any of these but our corporate tax return had a Schedule K-1 instead. Will this work?

Thank you for any information.

[belinda63 3,047]

If it is a corporation you are an employee. You should be getting paid and filing taxes as an individual.

[mastercard 3]

If it is a corporation you are an employee. You should be getting paid and filing taxes as an individual.

I do file individual taxes. But if I list myself as an employee they will ask for W-2 which I don't have.

My tax return says my occupation is "owner" and then shows the corporation name under line 28 Income from Partnership or S-Corporation.

Unfortunately I didn't setup the tax and corporate structure and only recently inherited it the way it is.

[belinda63 3,047]

If it is a corporation you are not an owner except as a stock holder. You need to speak to your CPA about this because either you are filing taxes wrong or the business is not a corporation. For example, I owned stock in Panera Bread and also worked there. Just owning stock did not make me an "owner". I was still paid a wage and received a W-2 at the end of the year. My income or loss from stock sales was listed on my taxes when I sold.

Line 28 on the 1040 is for retirement plans.

Edited November 4, 2016 by belinda63

[pushbrk 13,173]

I need some advice on how i should fill out my I-864. I am co-owner of a restaurant. Our company is set up as a corporation in which I own shares. The tax returns for the corporation list me as "Director". However my personal tax returns list my occupation simply as "owner".

1. I have read that I-864 occupation should match *exactly* with tax returns. Should I just put "owner" as my occupation? Should I maybe put the corporation name in parentheses?

2. They ask for a business certificate for self-employed. What I have are Articles of Incorporation and the approval from the state for creating the corporation. Do these count as business certificates?

3. For self-employed they also ask for tax form Schedule C,D,E, or F. We have not filed any of these but our corporate tax return had a Schedule K-1 instead. Will this work?

Thank you for any information.

Which class of corporation? Sub S, C Corp etc. Talk to your CPA about whether you are an employee of a corporation you own, or self employed. Sounds like you are Sub S.

[mastercard 3]

After some more careful reading and making a few calls I've figured it out. Like I said this is all new to me.

1. I am in fact not an employee of the corporation so I will list myself as "Owner" which is what it says on my tax returns.

2. The NVC website asks for a "business license" if you are self-employed AND you are below the poverty line. So I don't need this.

3. My personal tax return does have Schedule E in it. The I-864 instructions say this is required if you are self-employed. So I will send in my full returns in addition to transcripts.

[Maagiclady 29]

On 11/6/2016 at 1:27 PM, mastercard said:

After some more careful reading and making a few calls I've figured it out. Like I said this is all new to me.

1. I am in fact not an employee of the corporation so I will list myself as "Owner" which is what it says on my tax returns.

2. The NVC website asks for a "business license" if you are self-employed AND you are below the poverty line. So I don't need this.

3. My personal tax return does have Schedule E in it. The I-864 instructions say this is required if you are self-employed. So I will send in my full returns in addition to transcripts.

Were your docs sufficient?

[mastercard 3]

On 3/11/2017 at 11:48 AM, Maagiclady said:

Were your docs sufficient?

Yes for the NVC.

[Maagiclady 29]

4 hours ago, mastercard said:

Yes for the NVC.

What exactly did you include? Feel free to message me your answer. 

[mastercard 3]

On 3/14/2017 at 3:57 AM, Maagiclady said:

What exactly did you include? Feel free to message me your answer. 

Last 3 years tax return transcripts and copies of 1040 including schedule E.