Affidavit of support question

[Mike and Minchian 3]

I started a business in 2009 and on my tax returns I had a gross personal income of $35k that year (business gross was around 80). I was a graduate student before that and didn't earn much money for those years. So right now I only have one usable tax return for the affidavit of support. It seems like I may want two for her interview but I'm in an awkward position. Between visiting my fiance and the holidays I took a lot of time off work recently and as a result fell way behind on billing clients. When I bill them I take money out of their deposits and pay myself. However, now we're in a different tax year and I will be paying myself a pretty significant amount of money that I really earned last year. I also had a lot of business expenses early in the year. On my income tax for 2010 it will look like I made significantly less than I actually did. I should still be above the guidelines for my gross personal income but my AGI will be pretty low. Normally I would just file in April but I'm not sure if it will screw up her interview if there's only one year of tax returns and no paystubs. I also have a house with equity in it. The income from the guidelines wouldn't even cover my house and student loans, so it's pretty obvious I make more than that, but....just want things to go as smoothly as possible. I will hopefully have $15-20k saved by the time she has her interview and in a bank account if that would help (for our honeymoon, car for her, travel and AOS expenses).

[pushbrk 12,979]

I started a business in 2009 and on my tax returns I had a gross personal income of $35k that year (business gross was around 80). I was a graduate student before that and didn't earn much money for those years. So right now I only have one usable tax return for the affidavit of support. It seems like I may want two for her interview but I'm in an awkward position. Between visiting my fiance and the holidays I took a lot of time off work recently and as a result fell way behind on billing clients. When I bill them I take money out of their deposits and pay myself. However, now we're in a different tax year and I will be paying myself a pretty significant amount of money that I really earned last year. I also had a lot of business expenses early in the year. On my income tax for 2010 it will look like I made significantly less than I actually did. I should still be above the guidelines for my gross personal income but my AGI will be pretty low. Normally I would just file in April but I'm not sure if it will screw up her interview if there's only one year of tax returns and no paystubs. I also have a house with equity in it. The income from the guidelines wouldn't even cover my house and student loans, so it's pretty obvious I make more than that, but....just want things to go as smoothly as possible. I will hopefully have $15-20k saved by the time she has her interview and in a bank account if that would help (for our honeymoon, car for her, travel and AOS expenses).

Line 22 of the 1040 on the personal income tax return is the number they use. If it's enough, no problem. Are you an employee of an incorporated business you own? If so, S or C corp. If proprieter, you are obviously not "employed" but self employed, meaning your "current income" will be from line 22 of the most recent tax return. Unless the interview is in the next few weeks, that will be the 2010 tax return.

[Gary and Alla 3,694]

I started a business in 2009 and on my tax returns I had a gross personal income of $35k that year (business gross was around 80). I was a graduate student before that and didn't earn much money for those years. So right now I only have one usable tax return for the affidavit of support. It seems like I may want two for her interview but I'm in an awkward position. Between visiting my fiance and the holidays I took a lot of time off work recently and as a result fell way behind on billing clients. When I bill them I take money out of their deposits and pay myself. However, now we're in a different tax year and I will be paying myself a pretty significant amount of money that I really earned last year. I also had a lot of business expenses early in the year. On my income tax for 2010 it will look like I made significantly less than I actually did. I should still be above the guidelines for my gross personal income but my AGI will be pretty low. Normally I would just file in April but I'm not sure if it will screw up her interview if there's only one year of tax returns and no paystubs. I also have a house with equity in it. The income from the guidelines wouldn't even cover my house and student loans, so it's pretty obvious I make more than that, but....just want things to go as smoothly as possible. I will hopefully have $15-20k saved by the time she has her interview and in a bank account if that would help (for our honeymoon, car for her, travel and AOS expenses).

They go by gross income, not AGI. Line 22 on your PERSONAL tax return. One year tax return should be plenty for the interview unless the consulate you are suing is different than most others. Check the regional forums.

Business owners often have this problem. You can use a co-sponsor if needed. Money in savings can be used as an asset to offset a shortfall in income but assets count for 1/3 of income. $15,000 in savings makes up for a $5000 shortfall in annual income. SOME consulates take a dim view of CASH as an asset because it is moved around too easily and impossible to verify who "owns" it. If you use cash as an asset, I would include a few months bank statements so they see that the money did not just magically appear a few days before your interview. Money which magically appeared may just as magically disappear. If your gross income is enough, there is no need to mention assets at all.

[Gary and Alla 3,694]

Line 22 of the 1040 on the personal income tax return is the number they use. If it's enough, no problem. Are you an employee of an incorporated business you own? If so, S or C corp. If proprieter, you are obviously not "employed" but self employed, meaning your "current income" will be from line 22 of the most recent tax return. Unless the interview is in the next few weeks, that will be the 2010 tax return.

As mentioned above, changing your status from "self employed" to an employee of a corporation is another option. Only you can decide if the benefit outweighs the costs, taxes, etc.

[Mike and Minchian 3]

I have an S corp and am employed through it. Sorry I didn't include that. Guess I will do my taxes and if I'm sure line 22 is above the requirements I'll just file. Would like to get them taken care of in advance anyways.

[payxibka 10,045]

moving to:

US Embassy and Consulate Discussion

This is the place to post your experiences or questions related to this last step before moving to the US. Topics relating to I-134's, packets sent from consulate and medical & police certificates should be posted here.

[pushbrk 12,979]

I have an S corp and am employed through it. Sorry I didn't include that. Guess I will do my taxes and if I'm sure line 22 is above the requirements I'll just file. Would like to get them taken care of in advance anyways.

There ya go. The problem with S corporations sometimes is that the corporate loss wipes out the W2 income entirely or enough to bring line 22 down below the 125% level needed. In many circumstances, choices can be made to avoid such a result.

For Thailand, best to marry and take the spouse visa route instead of trying to use a cosponsor for a K1 visa.

Edited January 4, 2011 by pushbrk