This year I started a small business, as my current job paid only a small "stipend" of 8,000 or so.
My business did decently (I took in a profit of maybe $40,000). I have MANY things that I can legally write off though.
My family size is going to be 4 (my son, my foreign spouse and her son)
My concerns are this -
1. If I write off too much and I dip below the 125% line, will that matter since my "Gross" income will still be above the 125% amount???
2. If I don't write off legit expenses I'm going to pay tax on more money than I probably should, which isn't something I'd be particularly happy about....as all of you know this whole process hasn't been cheap lol.
Also I'm trying to rush to get my taxes done, as my wedding is Sat. Feb 28th and her I-94 expires March 7th, and since I've never dealt with owning my own business before, I have NO idea how all the tax stuff works.
So my second question is....does my AOS paperwork have to be postmarked by the 7th, arrive by the 7th....or can it be "late"????