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Proof of income for self employed cotract worker,,

#1 ianandjan

ianandjan

    Member

  • PipPipPip


Posted 23 December 2010 - 04:51 AM

Hello Visa Journey Members,
I am now set for interview this january, as for my current proof of income i have now 1.)contract labor agreement letter between my fiance and his employer stating he will be earning $3000 monthly,the contract started sept.15 2010 and will end sept 15,2012 a two year contract the contract stated also that he will be receiving 1099 at the end of calendar year and he is responsible for all the taxes. 2.) october-december check stubs and we can add january if it will given early.
3.)letter of proof of income written by my fiance stating his position,he is earning $3000 monthly and will derive not less that $36000 as annual salary.4.) bank letter that he has savings not less than $15000. Guys is there anything we forgot? His ITR last 2009 showed that he was about $3000 short from the poverty guideline...To any who have idea please tell me if these 4 current proof of income will be enough? Merry Christmas to one and all...
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#2 JimVaPhuong

JimVaPhuong

    Does this 嫪 d跬 make me look fat?



Posted 23 December 2010 - 11:44 AM

Hello Visa Journey Members,
I am now set for interview this january, as for my current proof of income i have now 1.)contract labor agreement letter between my fiance and his employer stating he will be earning $3000 monthly,the contract started sept.15 2010 and will end sept 15,2012 a two year contract the contract stated also that he will be receiving 1099 at the end of calendar year and he is responsible for all the taxes. 2.) october-december check stubs and we can add january if it will given early.
3.)letter of proof of income written by my fiance stating his position,he is earning $3000 monthly and will derive not less that $36000 as annual salary.4.) bank letter that he has savings not less than $15000. Guys is there anything we forgot? His ITR last 2009 showed that he was about $3000 short from the poverty guideline...To any who have idea please tell me if these 4 current proof of income will be enough? Merry Christmas to one and all...


It's difficult to say. He's not qualified based on his most recent tax return. The consulate is free to presume that his total income for the next year will be substantially less than the $36,000 in gross receipts he'll receive from his contract job. Because he's self-employed he is able to take deductions for his work related expenses, and these can add up to a lot of money. These deductions are subtracted from his gross receipts before determining his total income for tax purposes. There have been quite a few self-employed people who have had total receipts well over $50,000 but their actual total income (line 22 on their 1040 form) was only a few thousand dollars.

Was he self-employed when he filed his 2009 return? If so, what were his "gross receipts" on line 1 of his Schedule C form, and what was his "total income" on line 22 of his 1040 form? Consulates sometimes apply the same ratio when determining likely current total income for a self-employed person. For example, if his total income was 40% of his gross receipts on his most recent tax return then they might determine that his current total income will also likely be 40% of his current gross receipts.
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#3 ianandjan

ianandjan

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Posted 23 December 2010 - 02:55 PM

It's difficult to say. He's not qualified based on his most recent tax return. The consulate is free to presume that his total income for the next year will be substantially less than the $36,000 in gross receipts he'll receive from his contract job. Because he's self-employed he is able to take deductions for his work related expenses, and these can add up to a lot of money. These deductions are subtracted from his gross receipts before determining his total income for tax purposes. There have been quite a few self-employed people who have had total receipts well over $50,000 but their actual total income (line 22 on their 1040 form) was only a few thousand dollars.

Was he self-employed when he filed his 2009 return? If so, what were his "gross receipts" on line 1 of his Schedule C form, and what was his "total income" on line 22 of his 1040 form? Consulates sometimes apply the same ratio when determining likely current total income for a self-employed person. For example, if his total income was 40% of his gross receipts on his most recent tax return then they might determine that his current total income will also likely be 40% of his current gross receipts.

Thank you Jim ,in his 2009 there are months that he was an employee and has w2 and some months he was self employed and got 1099 tax form ...in his schedule c his net expense is 44%($2475) of his gross income and the net profit is 0.56%($3108).his total income as self employed is 3108 and the rest of the months he was an employee...WHEN we say current sustained income will this mean the income he was earning in the new and on going job or contract ,even he is just 4 months in that job or contract? or i should I still include data of his work way back january 2010? I have copy of his contract agreement, check stubs,bank letter where he deposited savings, letter of proof of income from my fiance...What documents we still lack to prove the current sustained income?
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#4 pushbrk

pushbrk

    Straight Talk Member



Posted 23 December 2010 - 03:58 PM

Thank you Jim ,in his 2009 there are months that he was an employee and has w2 and some months he was self employed and got 1099 tax form ...in his schedule c his net expense is 44%($2475) of his gross income and the net profit is 0.56%($3108).his total income as self employed is 3108 and the rest of the months he was an employee...WHEN we say current sustained income will this mean the income he was earning in the new and on going job or contract ,even he is just 4 months in that job or contract? or i should I still include data of his work way back january 2010? I have copy of his contract agreement, check stubs,bank letter where he deposited savings, letter of proof of income from my fiance...What documents we still lack to prove the current sustained income?


His past "income" as considered by the Consular officer will be from line 22 of his 1040 tax form. Just how they'll consider his current contract is hard to say. He does not have a "salary" and should not use that word to describe his income. In this context, the $3,000 a month is considered "business revenue" not "income" or salary. "Income" for the self-employed is deemed to be what is left over after deducting legitimate business expenses.
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Facts are cheap...knowing how to use them is precious...
Understanding the big picture is priceless.  Anonymous


#5 ianandjan

ianandjan

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Posted 23 December 2010 - 08:30 PM

Thank you push,it is written in his contract labor agreement that he will be the head chef of the company for a 2 year contract and he will be paid $3000 a month,reimburse expenses for supplies authorize by company in meal preparation and performance of services. please you have idea how we can overcome this public charge with his contract labor self employed status? Is there any document needed that we should add to explain to them that he is very much able as he is really is?oh no he is in contract now its too late to look for another job.



His past "income" as considered by the Consular officer will be from line 22 of his 1040 tax form. Just how they'll consider his current contract is hard to say. He does not have a "salary" and should not use that word to describe his income. In this context, the $3,000 a month is considered "business revenue" not "income" or salary. "Income" for the self-employed is deemed to be what is left over after deducting legitimate business expenses.


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#6 pushbrk

pushbrk

    Straight Talk Member



Posted 24 December 2010 - 09:58 AM

Thank you push,it is written in his contract labor agreement that he will be the head chef of the company for a 2 year contract and he will be paid $3000 a month,reimburse expenses for supplies authorize by company in meal preparation and performance of services. please you have idea how we can overcome this public charge with his contract labor self employed status? Is there any document needed that we should add to explain to them that he is very much able as he is really is?oh no he is in contract now its too late to look for another job.


It's really hard to say what the result will be. If it's a local job he can do without travel, then a Consular officer might decide the gross revenue is pretty much the same as gross income. I would take all references to "salary" out of any letter of explanation and call it what it is called in his contract. Then, I'd add to the letter any explanation that is true, that will help them understand the monthly pay will benefit him similarly to a salary. If he won't have any "business expenses" then say so.
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Facts are cheap...knowing how to use them is precious...
Understanding the big picture is priceless.  Anonymous


#7 ianandjan

ianandjan

    Member

  • PipPipPip


Posted 25 December 2010 - 05:28 AM

It's really hard to say what the result will be. If it's a local job he can do without travel, then a Consular officer might decide the gross revenue is pretty much the same as gross income. I would take all references to "salary" out of any letter of explanation and call it what it is called in his contract. Then, I'd add to the letter any explanation that is true, that will help them understand the monthly pay will benefit him similarly to a salary. If he won't have any "business expenses" then say so.


thank you jim and pushbrk for the help...my fiance said in his proof of income letter to the consul he will state that he is currently earning 3000 monthly with no business expenses since all supplies in performance of his service are provided by the company as what they had agreed in the contract and yes its a local job near his residence and yet the company provide a free room and board for him...WILL it help if we wait for his Income tax returns for 2010 this january 2011 ? aside from w2s and 1099s,and schedule attachments what else we will pass along with IRS?what about the catering services he made since january 2010 do we need to show them all the checks received or just the pay checks in this current contract labor? because in the 221g letter CO said we will just provide evidence of current sustained income , since his year 2009 income is below poverty guideline and i have one year to go back for interview and show them this evidence of current sustained income..
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