Net pay, or gross pay, what is the number to qualify for approved I-864?

[raven52 233]

I have a friend who is considering filing a K-1 for a Filipino lady.

He owns his own business. I told him I would try to see what the USCIS is looking at, for a qualifying I-864, affidavit of support.

It is a Sub-S corp. For example, his gross income is 100,000. dollars. After his depreciation of equipment, paying his one employee, and typical expenses, (power bill, insurance, etc) taxes, his net profit is 25,000. This is after everything. He only takes out of the business, what he needs to live on.

These are example incomes, not actual. Can someone help me,..,.,.,,.,help him? What line item is USCIS looking at on his tax return.

Please, forgive, as I am just looking for info. as you experts may need more info. if so I can get it!

[aleful 1,905]

hi

it's based on his own individual income.

[Sirliner 26]

Gross income, line 22 on the 1040 is what they look at. How he gets to that number is another matter. I had an S corporation at one time, so I know that one of it's advantages is it pays no taxes. All employees and officers are paid salaries, including your friend as president, and anything left at the end of the year is distributed out as compensation. As long as your friend makes above the required minimum poverty level for his household, everything is good. A smart bookkeeper or accountant should be able to mix and match your friend's salary and compensation to do that. Assuming your $100,000 gross income and $25,000 net profit "examples" are somewhere near reality.

[KayDeeCee 4,891]

I-134 is used for a K-1. For self-employed it is still total income amount, which is line 22 of the 1040.

[Hank_ 9,173]

I have a friend who is considering filing a K-1 for a Filipino lady.

He owns his own business. I told him I would try to see what the USCIS is looking at, for a qualifying I-864, affidavit of support.

It is a Sub-S corp. For example, his gross income is 100,000. dollars. After his depreciation of equipment, paying his one employee, and typical expenses, (power bill, insurance, etc) taxes, his net profit is 25,000. This is after everything. He only takes out of the business, what he needs to live on.

These are example incomes, not actual. Can someone help me,..,.,.,,.,help him? What line item is USCIS looking at on his tax return.

Please, forgive, as I am just looking for info. as you experts may need more info. if so I can get it!

His gross income will be after all business deductions, so, for example, the $25,000 would be his income. And USCIS does not look at his income (at least not until after the fiancee is married and applying for AOS), the embassy will want his income to meet the 125% poverty guidelines of the I-864P for the number of people, if there are only the two of them the requirement is $19,662. And the form will be the I-134.

How you doing? Getting all settled in to life in the USA?

[d3adc0d3 186]

Gross Pay; he will need to show his income tax returns for the last 3 years; as well as any bank statements at the time of the interview. The business will have that 100k income, technically... not him. So it's what he gets after the business expenses are paid, the net profits.

I recommend he put himself on a "salary" big enough to support his future family size according to the USCIS Guidelines. Typically best bet is to go at least 150% of the poverty guideline for Manila. From what I've seen, if you're right on the border, they may deny you.

[raven52 233]

Hank,

It is so nice of you to ask, as I have not spoken to you in some time, but I remember all the help you gave me in 2013 and my wife, and now she is here, we are happily married, and she has a nice job.

I owe you a lot, my friend, you helped us so many times, but no one could be happier than we are! A wonderful Filipino wife!

Just trying to help the guy who took em to the Phils. where I met my wife, and he "talked me into" going there just to look around.

HaHa, the first day I was there, I saw "who I wanted".,.,but it was my third trip to Cebu, before she said, "YES" and we filed the K-1 visa!

Again, thanks for all you did for us!

[raven52 233]

d3adc0d3,

You are flat wrong! He is the sole owner, and if he wants to take the income from ""HIS"" business, he is entitled to do so, as long as he has paid the taxes, on said profit!

If a man owns a business, and it makes ""X"" amount of dollars, ''IT is his"" to do with as he wishes, especially with a Sub S corp.!