Just got NOA2 but i'm also about to become self employed, what should I do

[ZombieSS 0]

I'm in the process of starting my own business and as part of that my current employer is dropping me as a full time employee to a contracted employee through a corporation I setup myself. It's a pretty big pay cut compared to what I made last year too and I just started this company. Would it be best to ask my employer to continue to keep me on staff until the K1 Visa is fully approved or is this a non issue. The problem I'm worried about is not having any way to prove my income due to a lack of a tax statement from the corporation I just started which hasn't earned a penny yet.

I do have a little over 10K in a bank account + a small 401k, but my only assets beyond that are two vehicles.

Will this cause any issues? I have no problems at all making ends meet and was debt free up until just a few months ago when I started this corporation which I'm using to do a multitude of things including my continued but soon to be contracted employment from my current employer.

Edited February 8, 2012 by ZombieSS

[Hank_ 9,174]

My feeling is if you can delay the transfer and stay on the payroll to do so until everything is approved.

[ZombieSS 0]

My feeling is if you can delay the transfer and stay on the payroll to do so until everything is approved.

That's what I was thinking too because it will make the K1 process easier and I can still continue to pursue the other things I'm after with my corporation while still having a provable full time income.

I'm on good terms with my the owner of the corporation I work for so I don't think it's going to be too much for me to ask, especially since we just got our NOA2 as of Feb 1st so we are most likely only looking at a 2 to 3 month delay in me going contracted.

Even if they do force me out I will have a written contract between my own corporation and my current employer who I'm a W2 employee of so I will still be able to show provable income. I'm well above the poverty line with assets and little debt.

[Theresa0828 65]

You should be okay if your 2011 tax return is above the poverty guidelines...

[ZombieSS 0]

You should be okay if your 2011 tax return is above the poverty guidelines...

My 2011 return is well above the poverty guidelines, I'm just concerned that making a change to being self employed with no provable income right before her interview might not be looked upon the most favorably by the interviewing officer. Maybe if I had a signed contract guaranteeing me employment for several years it wouldn't be an issue. The contract would be for an amount that's over double the K1 Visa poverty guidelines.

[Scafidi454 22]

You may want to call USCIS to ask them. You can always attach a sheet to explain everything. I think as long as you're 2011 and 2010 income is fine, then your change for this year won't matter, because you and/or they cannot predict what you will make.

As long as your project income for 2012 is above the poverty guidelines for your household, then I think only a letter stating that is required. Because you are self-employed, and this is your first year, I'm not sure how much that letter will do, but you can always try to prove at least whatever the amount required for the poverty guidelines in liquid assets.

You may also consider a co-signer.

I think that one way to prove projected income, since this is your first year, is to show any contracts you have for revenue.

Edited February 8, 2012 by Scafidi454