quick question

[lilj562 1]

i have a quick question about the 134-a...i'm just wondering what they really look at in your income is it the gross income or net income? any response will be appreciate thanky you in advance

Edited January 8, 2011 by lilj562

[YuAndDan 153]

i have a quick question about the 134-a...i'm just wondering what they really look at in your income is it the gross income or net income? any response will be appreciate thanky you in advance

Gross income before income tax.

[JimVaPhuong 4,863]

i have a quick question about the 134-a...i'm just wondering what they really look at in your income is it the gross income or net income? any response will be appreciate thanky you in advance

Neither term is really appropriate. Using the IRS terminology, they will look at "total income" from a 1040 or 1040A tax return, or "adjusted gross income" from a 1040EZ tax return.

If you're a regular employee who receives an hourly wage or weekly salary then the gross earnings on your W2 usually end up being the same as the numbers on the tax return forms I mentioned above. If you're self-employed or a business owner then the numbers on the tax return forms will usually be whatever profit was carried over from your Schedule C.

Edited January 8, 2011 by JimVaPhuong

[lilj562 1]

thank you for the information..im just worried about my gross and my net income because my gross income of 2009 is at 23k and my net pay is only 17k i dont know if the manila embassy will base my income with the gross income or the net income im making. im just little worried because my net pay didnt make the 125% poverty line..i dont know if i still need to get my parents as co-sponsor me or not...

Edited January 9, 2011 by lilj562

[pushbrk 12,979]

thank you for the information..im just worried about my gross and my net income because my gross income of 2009 is at 23k and my net pay is only 17k i dont know if the manila embassy will base my income with the gross income or the net income im making. im just little worried because my net pay didnt make the 125% poverty line..i dont know if i still need to get my parents as co-sponsor me or not...

Your current income is your gross pay. For example if you are paid by the hour and work 40 hours a week, multiply the gross hourly times 40 and multiply that number by 52 weeks. The shortcut is to multiply hourly by 2080 hours in 52 week year. If you only work 32 hours, adjust. If you have an annual salary, that's your current income.

When you provide a tax return, it may or may not reflect your current income but when it's looked at, the important number on a 1040 form is line 22,(Total Income) and on a 1040EZ, it's "Adjusted Gross Income".

[lilj562 1]

thank you on line 22 it say i have 23k and on my adjusted income also at 23k i guess im good then thank you for the reply guys i really appreciate this...hope everything turn out good on jan 20..thank you again

[pushbrk 12,979]

thank you on line 22 it say i have 23k and on my adjusted income also at 23k i guess im good then thank you for the reply guys i really appreciate this...hope everything turn out good on jan 20..thank you again

Sometimes the numbers are the same and sometimes they're not. Line 22 rules either way.