CR1 Income requirements

[ramirez071091 0]

I am planning on starting a CR1 process for the end of this year. My expected income for this year (2020) will be $25,000. I work for a tax company part-time and I am also self employed.  I know the minimum limit is of $21550 to sponsor my wife. Will I need another sponsor with my expected income and what would be a comfortable income that should not require a sponsor? 

[Lucky2Lucky 2,526]

No one can say for sure as it the officers discretion. I’m unsure how much of your income comes from self employment but that is more scrutinized than other income.

According to USCIS, submit the following documentation if you are a self-employed sponsor:

• Business license and registration (if available)
• Bank statements from the previous 6 months showing self-employment income
• Signed and dated statement about the nature of the business and the sponsor’s involvement

It may be best to have a joint sponsor lined up in case they determine you do not make enough. That way you can just send in the documentation.

[pushbrk 13,187]

3 hours ago, ramirez071091 said:

I am planning on starting a CR1 process for the end of this year. My expected income for this year (2020) will be $25,000. I work for a tax company part-time and I am also self employed.  I know the minimum limit is of $21550 to sponsor my wife. Will I need another sponsor with my expected income and what would be a comfortable income that should not require a sponsor? 

The 25k should be enough if it is "income" not just "revenue".  Your current income is most important. For the self employed, your current income TODAY is the total income line on your 2019 tax return.  After you file your NEXT tax return, your current income will be the total income line on your 2020 tax return.  That number is the taxable income after you take your business expense deductions.

 

Don't confuse "revenue" with "income".  You are a tax preparer, so maybe that's not an issue but this is an immigration context, not a tax context.