Self employment + tax return?

[Jon Portnoy 0]

I have a reasonable amount of cash assets ($25k or so) but I haven't worked for a few months now. I may soon be returning to a job I held previously, a newspaper motor route (not exactly prestigious, but it's decent money...). For tax purposes, this is considered self-employment (independent contractor). Is there any way I can do this and viably sponsor my fiancee without waiting until next year's tax return?

I'm also confused on "report of commercial rating concern" -- can anyone enlighten me as to what this is?

[TimsDaisy 0]

I don't believe you need tax returns for the K1 process (at least not until the AOS paperwork later). Check out the I-134 form - it doesnt' ask for tax returns. The I-184 does - but that's later.

Also - Do you have tax returns from last year? You say you haven't worked in a "few months" but that leaves a lot of other months to file on for 2006. And you'll need to file a 1099 for your indy work for the next year, etc. Independent contractor work is just as legit as anything where you'd get a W-2, so I guess I can't figure out what exactl you're worried about not having.

[Jon Portnoy 0]

I don't believe you need tax returns for the K1 process (at least not until the AOS paperwork later). Check out the I-134 form - it doesnt' ask for tax returns. The I-184 does - but that's later.

From the I-134 (II.C in instructions): "if self-employed: I have attached a copy of my last income tax return or report of commmercial rating concern"

I'm a little lost, what's the I-184?

Also - Do you have tax returns from last year? You say you haven't worked in a "few months" but that leaves a lot of other months to file on for 2006. And you'll need to file a 1099 for your indy work for the next year, etc. Independent contractor work is just as legit as anything where you'd get a W-2, so I guess I can't figure out what exactl you're worried about not having.

Yes, but I worked as an independent contractor for the first half of the year, left that job to travel & get a bit more school under my belt, then worked odd jobs under the table (primarily landscaping on some property my folks own). So my last 1099 is rather puny...

Thanks for helping me muddle through this,

Jon

[TimsDaisy 0]

Don't worry about the I-864 - lots of people get that confused with the I-134 - it's just another form related to financial support that gets filed with the AOS process.

As for the tax return - does it meet the miniums? Either way, you'll also be submitting other documents (bank statements, etc) - and just get in as much asset information as you can. There are also guidelines for how much you need in assets if you don't have other forms of financial backing (current employment, etc).

Backup plan: find a co-sponsor.

[Fandango 1,440]

I believe if you don't meet the poverty level as far as income, your assets have to be like 5x the poverty level?

This was true at the beginning of last year...I really don't know about now, so please check it out further.

[Jon Portnoy 0]

Thanks folks. I'm still a little lost, though; let's say I have a decent amount of cash assets, 1099s for the previous two years for the I-864 (when we get there) that do *not* meet the minimums + an explanation of why I don't have one for 2004 (school), and current employment as an independent contractor with verifiably acceptable income but no 1099 showing such yet (thus verification would have to come from bank statements, signed statement from my employer, or copies of my employer's payment records).

If I have bank statements and so forth does this kind of situation sound viable for sponsorship of my Australian fiancee? Do I need a co-sponsor?

Thanks a lot,

Jon

[zyggy 9]

I don't believe you need tax returns for the K1 process (at least not until the AOS paperwork later). Check out the I-134 form - it doesnt' ask for tax returns. The I-184 does - but that's later.

From the I-134 (II.C in instructions): "if self-employed: I have attached a copy of my last income tax return or report of commmercial rating concern"

I'm a little lost, what's the I-184?

Also - Do you have tax returns from last year? You say you haven't worked in a "few months" but that leaves a lot of other months to file on for 2006. And you'll need to file a 1099 for your indy work for the next year, etc. Independent contractor work is just as legit as anything where you'd get a W-2, so I guess I can't figure out what exactl you're worried about not having.

Yes, but I worked as an independent contractor for the first half of the year, left that job to travel & get a bit more school under my belt, then worked odd jobs under the table (primarily landscaping on some property my folks own). So my last 1099 is rather puny...

Thanks for helping me muddle through this,

Jon

An example of a commercial rating concern would be Dunn and Bradstreet...

[Yodrak 7]

Jon Portnoy,

As a contractor, independent or otherwise, don't you have a contract? Something that delineates the terms of the agreement with whoever is paying you? Contractors do get paid for their work, and at the IRS' insistence the payments are documented, they're just not called 'employee's salary'.

I did when I was an independent contractor, and then with each job that I was called in to perform I got paid for the work and statements documenting the payments. At the end of the year a Form 1099 for tax purposes.

Yodrak

I have a reasonable amount of cash assets ($25k or so) but I haven't worked for a few months now. I may soon be returning to a job I held previously, a newspaper motor route (not exactly prestigious, but it's decent money...). For tax purposes, this is considered self-employment (independent contractor). Is there any way I can do this and viably sponsor my fiancee without waiting until next year's tax return?

I'm also confused on "report of commercial rating concern" -- can anyone enlighten me as to what this is?

Edited March 7, 2007 by Yodrak

[Fandango 1,440]

Jon Portnoy,

As a contractor, independent or otherwise, don't you have a contract? Something that delineates the terms of the agreement with whoever is paying you? Contractors do get paid for their work, and at the IRS' insistence the payments are documented, they're just not called 'employee's salary'.

I did when I was an independent contractor, and then with each job that I was called in to perform I got paid for the work and statements documenting the payments. At the end of the year a Form 1099 for tax purposes.

Yodrak

I have a reasonable amount of cash assets ($25k or so) but I haven't worked for a few months now. I may soon be returning to a job I held previously, a newspaper motor route (not exactly prestigious, but it's decent money...). For tax purposes, this is considered self-employment (independent contractor). Is there any way I can do this and viably sponsor my fiancee without waiting until next year's tax return?

I'm also confused on "report of commercial rating concern" -- can anyone enlighten me as to what this is?

Yodrak,

I cannot speak for the OP but I'm an independent contractor also, and I have no contract stating any length of time.

[1HappyGuy 45]

If you are an independent contractor, you are self employed. The State Department is the one that will be approving the visa based upon your ability to support your fiancee. If you are self employed, then they want tax returns along with two years of bank statements to prove the income reported on the tax returns actually exists. With the ability to produce tax returns from software on your home computer, anyone can show really good income. That is why they ask for independent verification of financial ability. The commercial rating is essentially an independent rating of your ability to pay bills in regards to your work environment. I'm a little surprised that is acceptable.

If you have just started a job, then your employer can write a letter for you explaining the job, and your potential for income from it.

Otherwise, you might be looking for another sponsor.

[Fandango 1,440]

If you are an independent contractor, you are self employed. The State Department is the one that will be approving the visa based upon your ability to support your fiancee. If you are self employed, then they want tax returns along with two years of bank statements to prove the income reported on the tax returns actually exists. With the ability to produce tax returns from software on your home computer, anyone can show really good income. That is why they ask for independent verification of financial ability. The commercial rating is essentially an independent rating of your ability to pay bills in regards to your work environment. I'm a little surprised that is acceptable.

If you have just started a job, then your employer can write a letter for you explaining the job, and your potential for income from it.

Otherwise, you might be looking for another sponsor.

What I did was I got a second job working in an office it's no fun, but I felt more comfortable going the employee way than the whole 'self-employed' way.

I didn't do it for the K-1 interview as I hear London is ok with self-sponsoring. But I'm planning ahead for AOS. Man, am I tired! lol

[Yodrak 7]

LisaD,

You have no written agreement of any kind? The people for whom you perform work just trust that you know what they want you to do and that you'll do it? And you just trust them to pay you, and pay you an amount that you will consider satisfactory, after you've performed the work? (Sounds like you'll be a candidate for Judge Judy sooner or later.)

Note that I wrote nothing about "length of time", although that could be one of the terms of an agreement between an independent contractor and the entity that is retaining their services.

Yodrak

Jon Portnoy,

As a contractor, independent or otherwise, don't you have a contract? Something that delineates the terms of the agreement with whoever is paying you? Contractors do get paid for their work, and at the IRS' insistence the payments are documented, they're just not called 'employee's salary'.

I did when I was an independent contractor, and then with each job that I was called in to perform I got paid for the work and statements documenting the payments. At the end of the year a Form 1099 for tax purposes.

Yodrak

I have a reasonable amount of cash assets ($25k or so) but I haven't worked for a few months now. I may soon be returning to a job I held previously, a newspaper motor route (not exactly prestigious, but it's decent money...). For tax purposes, this is considered self-employment (independent contractor). Is there any way I can do this and viably sponsor my fiancee without waiting until next year's tax return?

I'm also confused on "report of commercial rating concern" -- can anyone enlighten me as to what this is?

Yodrak,

I cannot speak for the OP but I'm an independent contractor also, and I have no contract stating any length of time.