Self Employed Income concerns

[garmar 0]

I am self employed. I have a viable growing business but my 2010 adjusted gross income is about $18,500. Just above the requirements for my K1 petition. Worse yet my 2009 Income is $15,500 and my 2008 income is $17,400. I am not sure if all 3 years are required with the Affidavit of support. Nor do I know if I am required to send IRS tax return transcripts with my Affidavit of support. And my 3rd big question is will I be approved or do I need a co sponsor. Does anyone know? It seems to be a gray area. I would like to know where I stand on this as I so far have no Co-sponsor available.

[JimVaPhuong 4,863]

I am self employed. I have a viable growing business but my 2010 adjusted gross income is about $18,500. Just above the requirements for my K1 petition. Worse yet my 2009 Income is $15,500 and my 2008 income is $17,400. I am not sure if all 3 years are required with the Affidavit of support. Nor do I know if I am required to send IRS tax return transcripts with my Affidavit of support. And my 3rd big question is will I be approved or do I need a co sponsor. Does anyone know? It seems to be a gray area. I would like to know where I stand on this as I so far have no Co-sponsor available.

Your adjusted gross income isn't used in any case. What is used is your total income from line 22 of your 1040.

There is no fixed requirement for tax returns or transcripts with the I-134 affidavit of support, nor any fixed requirement for the number of years of tax returns or transcripts you need to submit. The consulate can ask for whatever they want. Most consulates prefer transcripts over tax return copies, and most will insist on at least a transcript or tax return for the most recent tax year. The consulate will usually provide their minimum requirements with the interview instructions, but many consulates routinely ask for more than the instructions indicate.

If you want to be absolutely safe, get transcripts for the past three years and submit them. If your most recent year's income is close to the threshold then line up a joint sponsor and have their affidavit of support ready to submit at the interview, just in case.

[I AM NOT THAT GUY 5,715]

If you are self-employed, you will need to supply photocopies the last three years of tax returns, with all schedules, including Schedule C, and all supporting 1099's. The number they will determine will be something less than the average of the total income for the last three years, but more than the adjusted gross income.

[garmar 0]

If you are self-employed, you will need to supply photocopies the last three years of tax returns, with all schedules, including Schedule C, and all supporting 1099's. The number they will determine will be something less than the average of the total income for the last three years, but more than the adjusted gross income.

[garmar 0]

Where do you get that information? Do you mean that they will average my 3 year's income and require it to be over the 125%. If that is the case then I will fall below the required $18,212 by about $1000. I can make up the shortfall by showing assets of course but I am not sure that they will use my 2008 & 2009 income for anything other than to verify that I have had a steady history in the business.

[JimVaPhuong 4,863]

Where do you get that information? Do you mean that they will average my 3 year's income and require it to be over the 125%. If that is the case then I will fall below the required $18,212 by about $1000. I can make up the shortfall by showing assets of course but I am not sure that they will use my 2008 & 2009 income for anything other than to verify that I have had a steady history in the business.

In my opinion, that information was not correct and you shouldn't be concerned with it. There is nothing in the law or the Foreign Affairs Manual that directs the consular officer to average your income. In spite of the fact that they ask for the affidavit of support as part of the "public charge" determination, they usually aren't concerned about the beneficiary becoming a public charge. Depending on the consulate, their main concerns are either potential fraud or approving a visa that would put the beneficiary in a Catch 22 situation.

The fraud aspect comes into play when the sponsor either barely qualifies or needs a joint sponsor, the beneficiary or their family has some financial means, and the beneficiary is or appears to be motivated to immigrate to the US for reasons other than a legitimate relationship. In a case like this the consulate may suspect that the sponsor has been paid by the beneficiary or their family to help them immigrate. The bar of suspicion is raised when the sponsor has consistently insufficient income but substantial recently acquired assets.

The Catch 22 situation is that the consulate doesn't want to grant a visa to someone whose sponsor may not be able to submit a sufficient I-864 affidavit of support when it's time to submit the adjustment of status application. They don't want to send someone to the US with the clear intent to immigrate, and then have them stuck in the US without the ability to become an immigrant.

[I AM NOT THAT GUY 5,715]

Where do you get that information? Do you mean that they will average my 3 year's income and require it to be over the 125%. If that is the case then I will fall below the required $18,212 by about $1000. I can make up the shortfall by showing assets of course but I am not sure that they will use my 2008 & 2009 income for anything other than to verify that I have had a steady history in the business.

I was showing more than twice the poverty level in net income for all three years, and they were still nervous at the AOS stage. The wife had gotten a job before the interview, and that seemed to clench the approval. If you are cutting it that close, be prepared to have a joint sponsor lined up.

BTW: I have been self-employed for the last eighteen years.

Edited June 20, 2011 by Some Old Guy