Gross wages or adjusted?

[SteveColo 0]

Hello all,

Was wondering about the proof of income paperwork.

I was self employed for the last 3 years working in the transportation business. I owned my own truck, etc. My gross wages were well above the 125% rule but, with the help of a good CPA, obviously with deductions for expenses, gas, etc. my 'NET' was a lot lower so taxes owed the IRS were low.

Does anyone know, on this form, do they look at gross wages or will they use the adjusted income to qualify me for my wife's visa?

Thanks for your input ...

Steve

[payxibka 10,044]

on a 1040 it is total income (I think line 22)... Not total income as reported on say Schedule C

[geezer 1]

I'm also self employed. On the 1040, they look at line 22 total income, which in your case would be adjusted.

I will be using my 2008 tax year income and I wont be taking all the deductions I would normally so I can keep my income above the 125% threshold.

[moonhunt 1]

Hello all,

Was wondering about the proof of income paperwork.

I was self employed for the last 3 years working in the transportation business. I owned my own truck, etc. My gross wages were well above the 125% rule but, with the help of a good CPA, obviously with deductions for expenses, gas, etc. my 'NET' was a lot lower so taxes owed the IRS were low.

Does anyone know, on this form, do they look at gross wages or will they use the adjusted income to qualify me for my wife's visa?

Thanks for your input ...

Steve

If you look at I-864 instructions, there is clear explanation.

For 1040, it is gross income, which is total income.

For 1040EZ, it is Adjusted Gross Income (AGI).

[pushbrk 12,113]

Hello all,

Was wondering about the proof of income paperwork.

I was self employed for the last 3 years working in the transportation business. I owned my own truck, etc. My gross wages were well above the 125% rule but, with the help of a good CPA, obviously with deductions for expenses, gas, etc. my 'NET' was a lot lower so taxes owed the IRS were low.

Does anyone know, on this form, do they look at gross wages or will they use the adjusted income to qualify me for my wife's visa?

Thanks for your input ...

Steve

If you look at I-864 instructions, there is clear explanation.

For 1040, it is gross income, which is total income.

For 1040EZ, it is Adjusted Gross Income (AGI).

Gross income from the 1040, not gross revenue from the schedule C.

[geezer 1]

If you look at I-864 instructions, there is clear explanation.

For 1040, it is gross income, which is total income.

For 1040EZ, it is Adjusted Gross Income (AGI).

However, if you are self employed the number you are reporting is from Schedule C line 31, which is the Net Profit (or loss) from the business. If you are self employed this represents adjusted income and it is reported on the 1040 at line 12.

It is then added to other income and reported as your Total Income. If you are self employed although they are calling it gross income it is actually adjusted because it is subject to the deductions you take on the schedule C.

As with everything in the tax code its not as straight forward as it should be...

[SteveColo 0]

Thanks for your input ...

I noticed two forms listed ... the I-134 and the I-864 ... can someone explain the difference? Will I need both or will it depend on which route I take, CR1 or K3?

Thanks

[Gary and Alla 3,694]

Thanks for your input ...

I noticed two forms listed ... the I-134 and the I-864 ... can someone explain the difference? Will I need both or will it depend on which route I take, CR1 or K3?

Thanks

They will use your GROSS income from line 22. They will not look at gross revenues from sched. C I was self employed most of the year before my wife arrived and had to forego claiming legitimate business expenses and costs (and pay more than $2400 in additional taxes) in order that my GROSS income would exceed the limits. There is nothing illegal or underhanded about this and the governemnt will gladly allow you "skip" deductions. It has been suggested to me that after all this is over I file an amended return for 2007 and get the money back. Maybe.

The I-134 is used for the K-1 visa and the I-864 is used for the AOS. Gudielines are the same and documentation is basically the same (they ask for a statement of earning for 3 years on the I-864) and the I-864 includes a contract you sign between you and the government saying you fiancee will not become a public charge within ten years