I-864 Current Income Question - Newly Self-Employed

[mountaingoat 4]

I may be tired and over thinking this but I just can't seem to figure it out. I'm very confused about what to put as my current annual income on the I-864. I have only been self-employed for one month. During that month I earned $1,700. I have no income for the previous months of this year. I have no tax returns due to the fact that I was not employed because I spent the past several years as the only full-time care giver to my mother until her death this past year. I have a bank statement showing my deposits the past month and copies of contracts with my clients as proof of my self-employment. I have a joint sponsor so my only concern with filling out my information is that it is as accurate as possible. I just really don't know what they would expect me to put as my current annual income. I expect to be earning at least that amount every month. Do I just put what I earned the past month or do I multiply it by 12? Any advice will be greatly appreciated. Thank you.

[Anh map 2,098]

You will definitely need to secure a joint sponsor.

Fill in the 864 as best you can. With what you are saying about your current income it won't really matter. Annualize your income and include copies of any contract you have. For self employed it's not the gross revenues (deposits), it's the net profit/loss shown on a tax return. You haven't reached that point yet as you are just starting out.

[mountaingoat 4]

Thank you so much!!

[Icha 0]

Hi....i think i'm gonna join this topic since my husband is a self employed too.

If i may understand this, so on the form I-864 no. 23, the annual income that he has to put is the nett income right?? not the gross one?? The nett income after deducted by the annual expenses.

Thank you

[Navyk 78]

Hi....i think i'm gonna join this topic since my husband is a self employed too.

If i may understand this, so on the form I-864 no. 23, the annual income that he has to put is the nett income right?? not the gross one?? The nett income after deducted by the annual expenses.

Thank you

It is Gross Income - not net.

[Anh map 2,098]

Hi....i think i'm gonna join this topic since my husband is a self employed too.

If i may understand this, so on the form I-864 no. 23, the annual income that he has to put is the nett income right?? not the gross one?? The nett income after deducted by the annual expenses.

Thank you

For a self employed person the income used for the affidavit of support is line 22 of the most recent (2010) form 1040 income tax return. This income amount (line 22) is after the business income or losses are taken.