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K1 I-134 Self Employment Income, Etc. Question

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Hi everyone. Long time listener, first time caller.

As you can guess from the topic, we're nearing the final stage of our K1 visa application process, and I (the sponsor) am self-employed. I've seen a number of people state that, for income, line 22 of the Form 1040 is used. I'm wondering: is this a hard and fast rule? It's not mentioned anywhere in the I-134 instructions, and it could greatly affect our case.

A little background: last year was my first year as full-time self-employed. As such, my line 22 shows a little over $13K, well below the needed threshold (just shy of $20K). However, I have 1099s from last year that add up to very close to the needed amount (within a couple hundred), close enough that, with my assets (almost $25K in cash and easy-to-liquidate stock/mutual fund investments), I believe I might be fine. I could provide bank statements that show that I'm more than on pace to exceed the income the threshold for this year, but I realize that "on pace" is no guarantee. Previous tax returns show plenty of income, but largely from a job I left to pursue my own business. I also currently live with my brother in a house we co-own, and he would have no problem proving the level of income needed. He has agreed to fill out an additional I-134 for joint sponsorship. Unfortunately, we have to go through one of the toughest embassies to prove finances: Manila. What really sucks is that she works for an American-based company who has a guaranteed job for her once she's able, so with everything considered, there's near-zero chance of her becoming a public charge, but I know they won't take that into consideration.

So, in short, three questions:

1. Could I show income based off my 1099s (which is also the amount stated at the top of the Schedule C), or would they look at line 22 and consider my entry fraud?

2. If I put line 22, would my assets carry me?

3. If none of the above, I know cosponsors are very difficult, but from what I've read, I'm in one of the better situations here. Do I have a chance with this, if all else fails?

Thanks in advance!

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OK, I will shoot one more hole in the bucket - USEM in the Philippines do NOT accept assets, not even with an immigrant visa, you will need to use a co-sponsor if you income does not meet the 125% for the poverty guidelines of the I-864P. Your brother is a good choice for a co-sponsor as it improves your odds of getting USEM to accept a co-sponsor (with the K-1 USEM wants the co-sponsor to be a close relative). USEM is not impossible for getting a co-sponsor accepted, just difficult :)

Along with your most recent tax return and 1099, in your case, I would suggest copies of your bank statements. For your brother he needs to provide his most recent tax return and W-2 along with an original I-134 showing his income is adequate to meet the 125% guidelines for himself (and other dependents) and your fiancee.

For questions relating to the process in Manila I suggest you pop over to the Philippines forum.

http://www.visajourney.com/forums/forum/129-philippines/


Hank

"Chance Favors The Prepared Mind"

 

      HandArrow.gif.adeb854ba620933849ae921ca0b44a0c.gif  Link to the Visa Process for Manila Embassy once you have your NOA2 : Click Here

 

Contact Hank: HERE

K-1 visa approved 21 March 2012

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Thank you, Hank! That's disappointing to hear about the assets, but very useful information nevertheless. Do you have a recommendation as far as which number I can put in the income line on the I-134? Am I stuck with that $13K (1040 line 22) number, or can I boost it based off the other documents?

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