2014 taxes with 2015 poverty guidelines?

[Mightbebeyondme 2]

Hi, I am self employed and will receive a larger tax refund with a lower adjusted gross income. I am unsure how the I-134 pans out on my taxes. I know the new poverty guidelines came out for 2015 and I am doing my 2014 taxes. Should I be trying to meet the 125% of the 2015 guidelines when doing my 2014 taxes?

I will be doing a K1 sometime this year and my partner is Thai.

thanks

Lonny

[Ning 619]

Hi, I am self employed and will receive a larger tax refund with a lower adjusted gross income. I am unsure how the I-134 pans out on my taxes. I know the new poverty guidelines came out for 2015 and I am doing my 2014 taxes. Should I be trying to meet the 125% of the 2015 guidelines when doing my 2014 taxes?

I will be doing a K1 sometime this year and my partner is Thai.

thanks

Lonny

The 134 is the support form. You should submit at least one years tax transcript with the 134. I am not sure why you think the 2015 guidelines have anything to do with your taxes.

The embassy will review your 134 along with the 2014 taxes to determine if you can support your fiancée.

If there is any question that you meet the current guidelines you could consider marrying in Thailand which would allow you to use a joint sponsor as part of a CR1 case.

Consider reading Thailand Fever found on Amazon and ask her to do the same.

[KayDeeCee 4,893]

Yes, since you are self-employed they will look at line 22, Total Income, of your 1040 form. That is the one you want to be at or above the 125% mark. You may have to take less business deductions on your schedule c to keep that number higher.

[Mightbebeyondme 2]

I really don't want a joint sponsor this time. I did that in 2000 when I married my ex-wife. I can make the poverty guideline when doing my taxes. I am just cutting everything really close with my taxes. In the self-employment part of my taxes I am apparently allowed to take deductions or not. It is really just a matter of a substantial refund or having to pay taxes. I am just wondering if it is acceptable to use the 2014 guidelines for 2014. It seems that there would end up being a problem if I didn't meet 125% of the 2015 poverty guidelines in my 2014 taxes and I would then need a co-sponsor. Maybe my personal property and home value could make up the difference?

[KayDeeCee 4,893]

They will use whatever poverty guidelines are current at the time of the K-1 interview, even though your most recent taxes will be 2014, the guidelines will be for 2015.

[Ning 619]

I really don't want a joint sponsor this time. I did that in 2000 when I married my ex-wife. I can make the poverty guideline when doing my taxes. I am just cutting everything really close with my taxes. In the self-employment part of my taxes I am apparently allowed to take deductions or not. It is really just a matter of a substantial refund or having to pay taxes. I am just wondering if it is acceptable to use the 2014 guidelines for 2014. It seems that there would end up being a problem if I didn't meet 125% of the 2015 poverty guidelines in my 2014 taxes and I would then need a co-sponsor. Maybe my personal property and home value could make up the difference?

If you came to the point you describe where you would need a joint sponsor it would be too later because BKK doesnt allow them in 99 % of cases. This is why I suggested you think about a CR 1.

When the time comes the embassy will look at the issue of support. They will use the 2015 P guides. They will look at 2014 tax situation including the income level. They also consider your income at the time of the 134.

Your assets must be liquid to be considered.

[sma1488 155]

Using assets can be very subjective and tricky, so I'd avoid that at all costs. You also cannot use your primary residence or vehicle as assets.

The 2015 poverty guidelines are out already, and you can find them here: http://aspe.hhs.gov/poverty/15poverty.cfm

After multiplying by 1.25x, for 2 people it's only about a $300 increase over last year, so we're not talking about THAT big of a difference. Take the least amount of deductions you can to get you over that amount. Also keep in mind that depending on how late in 2015 your fiancée has her interview, they might want to see some bank statements for 2015 as well to make sure that you continue to make at least as much as you did in 2014.

[Mightbebeyondme 2]

Yes thanks for the answers. This is all pretty relevant. For some reason my fundamental logic was telling me that 2014 guidelines would be acceptable for 2014 taxes, but I always question logic when the government is involved....LOL! I have complex taxes as I receive SSDI, have a small rental apartment and a small gift shop. My income is naturally near the poverty level. I would like to try to do this myself. I just have to try to work it out with my tax man.

Thanks and will try to get her done.

Lonny