Affidavit of Support for K-1

[gmanusa 0]

Yeah, it's worth pointing out here that a Schedule C does not really mean jack ######. If you make a million dollars a year, but record $980,000 worth of expenses, then your net income is only $20,000. That's the number that the embassy is interested in. It doesn't matter if the $980,000 you write off in expenses includes your house, car, boat, plane and other interesting things you can write off through creative accounting by them "business expenses". This is where doing that kind of thing can hurt you. It's net income that matters, and this is reported on the 1040 itself anyway. The schedule C does not really do anything for you here. If you can't show the required income on the 1040 itself, the schedule C attachment is not likely to assist. If you are so bold to claim a loss with a schedule C, that actually reduces your net income to below 0, unless you have income from other sources. Good luck getting approved in these circumstances.

I am self-employed now. Well, technically, I am the president, CEO, and sole employee of a corporation that I am the only owner of. I'm not really self-employed, I'm employed by the corporation I own. Even so, I pay myself a check, cut myself a W-2, and cut myself a schedule K-1. I do not use the schedule C at all now (although I did before I incorporated and changed how I do things). This is a pretty good way to go in terms of documenting things for immigration purposes, but if you are already in the midst of an immigration process, it's a little late in the game for it.

Cheers!

AKDiver

AKDiver -

thanks for bringing up the fact about you being the Pres, CEO of your own corporation. I'm in the same boat, and was wondering how my past income (or lack thereof) might cause problems during the approval process.

I just incorporated, and our interview probably won't be until December or so. My current income will be more than adequate to meet sponsorship guidelines. I can have a nominee officer, an attorney, provide an employment verification letter to verify my position, income, and how long I've been with the company.

My only real concern is that 2 of the last 3 years, my W-2 income wasn't enough to meet the 125% sponsorship guidelines. I was a sole proprietorship during that time, pouring most of my earnings back into the company and taking some graduate classes. I've read posts of guys who have had their ladies attend interviews where one of the first things the interviewer wanted to look at was prior W-2's.

So bottom line, my current financial situation more than exceeds the requirements, but my past history does not. How worried should I be? (Right now I"m real worried!) Thanks for any input or suggestions from anyone.

Gman

[russ 1]

It depends I guess, but past income is generally not a problem. How much you make now matters far more. Grad school is a good reason for being below 125%.

AKDiver -

thanks for bringing up the fact about you being the Pres, CEO of your own corporation. I'm in the same boat, and was wondering how my past income (or lack thereof) might cause problems during the approval process.

I just incorporated, and our interview probably won't be until December or so. My current income will be more than adequate to meet sponsorship guidelines. I can have a nominee officer, an attorney, provide an employment verification letter to verify my position, income, and how long I've been with the company.

My only real concern is that 2 of the last 3 years, my W-2 income wasn't enough to meet the 125% sponsorship guidelines. I was a sole proprietorship during that time, pouring most of my earnings back into the company and taking some graduate classes. I've read posts of guys who have had their ladies attend interviews where one of the first things the interviewer wanted to look at was prior W-2's.

So bottom line, my current financial situation more than exceeds the requirements, but my past history does not. How worried should I be? (Right now I"m real worried!) Thanks for any input or suggestions from anyone.

Gman

[1HappyGuy 45]

If you are self employed filing a Schedule C or F, then the embassy wants to see two years of bank statements showing deposits that are sufficient to support the income claimed on the tax returns. You should copy the statements that show the deposits. The same is true for someone that might have tax exempt income like tax free interest or disability payments.

I recommend that you provide the most current information to show that nothing dramatically has changed.

[meauxna 15]

I'm in the same boat, and was wondering how my past income (or lack thereof) might cause problems during the approval process.

I just incorporated, and our interview probably won't be until December or so. My current income will be more than adequate to meet sponsorship guidelines. I can have a nominee officer, an attorney, provide an employment verification letter to verify my position, income, and how long I've been with the company.

My only real concern is that 2 of the last 3 years, my W-2 income wasn't enough to meet the 125% sponsorship guidelines. I was a sole proprietorship during that time, pouring most of my earnings back into the company and taking some graduate classes. I've read posts of guys who have had their ladies attend interviews where one of the first things the interviewer wanted to look at was prior W-2's.

So bottom line, my current financial situation more than exceeds the requirements, but my past history does not. How worried should I be? (Right now I"m real worried!) Thanks for any input or suggestions from anyone.

Gman

Gman et al,

In a way, it's unfortunate that the non-immigrant fianancial support system is set up the way that it is.. believe it or not, it is actually much more clear cut for those of in in alternate employment to satisfy an I-864 than some nebulous Consular suggestion of what is 'enough'.

That said, maybe you can glean some hope or ideas from my experience.

I was not employed at the time of submission/adjudication.

I had not been employed for going on two years.

I had no firm j-o-b to go to in the US.

I had an extension filed for my 'most recent' tax return.

I did have assets in real estate, investments & cash deposits.

My spouse (again, different criteria for the fiances, but remember you'll have I-864 in front of you) had a small but stable on-going income.

My spouse had assets in cash deposits.

My past tax returns included two at +sufficient income and one zero year.

Other observations:

There are two distinct request/requirements:

1-That you document your current income, which should be 125% of PG for your household

2-That you provide your past X years of tax returns

There is no requirement that the past years' returns be at/above PG.

Gman--your idea of having the attorney write a letter is great. So is providing a copy of your business licence, business insurance and professional creds you have to hold. You can include a narrative explanation of your situation (write like it's for a four year old!) detailing what you were doing before you incorporated, including your continuing education to support your new business. I included data about the economic situation in my part of the country, showing that we could indeed live on our income in our city. I was quizzed at the interview about my past work experience, job offers I had (I did have some) and other options if I moved out of my immediate field. If you won't be at the interview, you can prepare your 'story' in writing. Document *anything* you claim.

I guess the point of my post is that it's not ever just 'one' document--it's the story that the entire submission tells. Be a thorough storyteller!

(yes, I've taken into account the differences between Consular posts etc etc--take from this what might be useful to you!)

[gmanusa 0]

I'm pretty sure I would not be stating that I am "self-employed"; even though it is my company, the corporation is a separate legal entity, and I am legally an employee of that corporation. So unless I'm way off track, I should be able to just provide proof of employment (letter, pay stubs, etc), and not have to provide the other information that would be required of a self-employed person (rating from commercial concern, etc).

AkDiver, I think you and I are in the same category here employment-wise. Any thoughts?

Thanks for the additional feedback guys.

[russ 1]

Self-employed myself. Corporate structure didn't matter, they were happy with W-2s and tax returns, and a letter.

I'm pretty sure I would not be stating that I am "self-employed"; even though it is my company, the corporation is a separate legal entity, and I am legally an employee of that corporation. So unless I'm way off track, I should be able to just provide proof of employment (letter, pay stubs, etc), and not have to provide the other information that would be required of a self-employed person (rating from commercial concern, etc).

AkDiver, I think you and I are in the same category here employment-wise. Any thoughts?

Thanks for the additional feedback guys.

[akdiver 3]

AkDiver, I think you and I are in the same category here employment-wise. Any thoughts?

All you really need is W-2s and 1040s. Anything beyond that is optional. Recommend 3 years worth.

Cheers!

AKDiver