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weng&cameron

very confusing

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Filed: K-1 Visa Country: Philippines
Timeline

hello im very confused where the Consulate looks for reaching the poverty guidelines of your income is it in the total gross income which u earn yearly or the net income after all the deductions of what u earned?

hope u will enlighten me which is the right one? thank u everybody..

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Gross, before taxes

Good luck!


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Filed: Other Country: China
Timeline

gross

Yes, it's gross income but not gross business revenue. For the self employed with a schedule C, "total income" from line 22 is considered to be the current income regardless of total business revenue.


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Filed: K-1 Visa Country: Philippines
Timeline

Yes, it's gross income but not gross business revenue. For the self employed with a schedule C, "total income" from line 22 is considered to be the current income regardless of total business revenue.

but his line 22 in 1040 was already 15k after all the deduction attachment with his schedule c..his 1099 was 40k that was his total income earned yearly..which is his gross income is it 40k or the 15k??

in our case are we reach the poverty guidelines ?

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Filed: Other Country: China
Timeline

but his line 22 in 1040 was already 15k after all the deduction attachment with his schedule c..his 1099 was 40k that was his total income earned yearly..which is his gross income is it 40k or the 15k??

in our case are we reach the poverty guidelines ?

It's the number on line 22. Really! 40K was not the total income. It is the total business revenue before business expenses. "Income" (for a business) is revenue minus expenses.

The same would apply to an employee who has business expenses. Lots of sales people are in this situation. If they deduct their business expenses, it reduces their "income".

Edited by pushbrk

Facts are cheap...knowing how to use them is precious...
Understanding the big picture is priceless. Anonymous

Google Who is Pushbrk?

A Warning to Green Card Holders About Voting

http://www.visajourney.com/forums/topic/606646-a-warning-to-green-card-holders-about-voting/

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Filed: Citizen (apr) Country: Canada
Timeline

Moved to K-1 Fiance(e) Visa Process & Procedures, from IR-1/CR-1 Spouse Visa Process & Procedures. The answers to this question are the same regardless of where the question is asked, but the OP may move on to K1 specific questions and would be better suited for the K1 forum.


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