Form I-134 Income Question

[kolopop 2]

Currently filling out my co-sponsors' and I's I-134 for my K1 visa,

what has me stumbled is the question for annual income,

my co-sponsor is currently self employed and has years of tax returns established, for the annual income should I put the co-sponsors income on last year's tax return, or what he expect to make in the current year.

 

Thanks,

 

-Karol Vida

[USS_Voyager 1,972]

Current income

[Peot 161]

It's not quite as simple as "current income", because without sufficient evidence to prove your co-sponsor really does make the income they claim they do, it may be declined. If you put a value there, be sure to show how this value makes sense.

 

This is why submitting enough evidence of self employed income is so important.

 

Profit / Loss statement, earnings statement, accountants letter, and of course those tax documents. 

 

Another good idea would be to go to the bank and get a letter from the manager showing the business bank account balance over the course of the current year (12 months). This isn't to use the balance as an asset, but to show that the income is consistent. If this is managed by a CPA, they would provide that letter.

[kolopop 2]

 

29 minutes ago, Peot said:

It's not quite as simple as "current income", because without sufficient evidence to prove your co-sponsor really does make the income they claim they do, it may be declined. If you put a value there, be sure to show how this value makes sense.

 

This is why submitting enough evidence of self employed income is so important.

 

Profit / Loss statement, earnings statement, accountants letter, and of course those tax documents. 

 

Another good idea would be to go to the bank and get a letter from the manager showing the business bank account balance over the course of the current year (12 months). This isn't to use the balance as an asset, but to show that the income is consistent. If this is managed by a CPA, they would provide that letter.

My co sponsor has 3 years of tax returns readily available, two of which I have W-2 forms for because he worked for a company at that time.. the past year (2018) I have a tax return statement, and a bank statement.. for all years he has earned more than the 20,000ish minimum, would this have a good chance of being accepted or is more needed? 

Edited July 15, 2019 by kolopop

[samnrong 52]

1 hour ago, kolopop said:

 

My co sponsor has 3 years of tax returns readily available, two of which I have W-2 forms for because he worked for a company at that time.. the past year (2018) I have a tax return statement, and a bank statement.. for all years he has earned more than the 20,000ish minimum, would this have a good chance of being accepted or is more needed? 

Minimums are guidelines, not headlines. Simply exceeding the minimum is not a guarantee you will be approved.

 

CO takes the “totality of the circumstances” into account when making their decision. Need more info to really give your a good idea. Just being over $20k doesn’t tell us much. Annual income of $100k and $30k are both over $20k. One is a slam dunk for approval and the other is borderline...

[kolopop 2]

16 minutes ago, samnrong said:

Minimums are guidelines, not headlines. Simply exceeding the minimum is not a guarantee you will be approved.

 

CO takes the “totality of the circumstances” into account when making their decision. Need more info to really give your a good idea. Just being over $20k doesn’t tell us much. Annual income of $100k and $30k are both over $20k. One is a slam dunk for approval and the other is borderline...

So my co sponsor two years ago when he worked for a company earned 75k, he has two tax returns for both ‘16 and ‘17, unfortunately the company he worked for until 2018 burned down, big whole thing in New Jersey what happened. He was self employed and only made around 47k in 2018 on his tax returns, his tax returns in 2018 also list he is self employed so there wouldn’t be any discrepancies there I would hope. I’m just trying to figure out what I, rather he would also need.