Self-employed, recent business losses

[Andrew_Qin 0]

I'm self-employed and I've suffered considerable business losses from 2007 through 2009 due to a business investment that went sour. I closed store early in 2010 and the property, the purchase of which was part of my investment is currently under lease. My 2010 tax returns, still offset by business losses for the first quarter of 2010, show a modest income, though slightly under the 125% poverty line. I have sufficient assets in real estate, investments and bank accounts to compensate for the shortage of income, but I am not sure how these will be treated. I intend to submit bank statements, property appraisal and an audited P/L statement for the what has passed in 2011, hoping that will get me through.

Anybody know of someone with a similar experience? Care to share the result?

I will be sending my 2010 tax returns with my I-864 soon. Based on the information declared on my I-864, will I be warned prior to the interview that I should arrange for a co-sponsor? Or is the need of a co-sponsor up to the officer at the interview?

Thanks,

[Darnell 8,479]

assets are computed at 1/3 actual value.

Does the P/L statement show the assets, or no?

Suggest a one page audited INCOME statement from yer CPA, per year, showing all. should be about 3 hours of CPA billable time.

note Send 3 years of tax statemeents - it's GUZ IV - they expect to see 3 years.

[Andrew_Qin 0]

Darnell, thanks for the advice. It seems that whenever I need an answer you're always there. Even without income, the equity in my home and commercial property alone are enough to qualify me. However, the people at Guangzhou operate on much more speculative and subjective mode, and that is what worries me. If a vo can deny a visa because he merely "believes" a marriage is fraudulent, what is to prevent him from believing I don't have sufficient ability to support my wife? Unfortunately, there is no rhyme or reason to what happens at Guangzhou; there is no safe zone. The fear and uncertainty we are subjected to is analogous living at the mercy of the Gestapo, at least while enduring this process for the purpose of being united with the person we love most in the world. It may seem to be only a mosquito, but nevertheless we have to be ready with the canons. Our country was founded on the principle that the best government is that which governs least. This is a case in point.

Edited May 3, 2011 by Andrew_Qin

[pushbrk 13,667]

assets are computed at 1/3 actual value.

Does the P/L statement show the assets, or no?

Suggest a one page audited INCOME statement from yer CPA, per year, showing all. should be about 3 hours of CPA billable time.

note Send 3 years of tax statemeents - it's GUZ IV - they expect to see 3 years.

In addition, I would include and audited balance sheet for the business. You will not be warned "that you need" a joint sponsor. The warning is that you "may need"... and that the Consular officer will decide.