I-134 Self Employed Income Varies

[shawndee 47]

I've looked around and haven't found an answer so, thanks for the help. 

 

I'm self employed but my income varies. I make more than enough to support my fiancé but, what should I put for the annual income on the I-134? I was thinking I should just put what I claimed on my 2016 taxes but, really, that's not my annual income every year. The letter that I get from my bank (because I'm self employed) will show that I've already made more for this year. Any thoughts on what I should put? Can you write "varies" on that line and write an explanation? Or, should I just put what I made in 2016? Thanks!

Edited September 11, 2017 by shawndee
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[piff 46]

I would just prorate it and that is it. Let's say you made $35,000 as of Sep 1. It's 9/12 of the year, do the math: 12*35,000/9 = $46,666 and as long as the taxes from last year are good enough, then it's cool

[shawndee 47]

4 minutes ago, piff said:

I would just prorate it and that is it. Let's say you made $35,000 as of Sep 1. It's 9/12 of the year, do the math: 12*35,000/9 = $46,666 and as long as the taxes from last year are good enough, then it's cool

That's what I was thinking. I guess my thinking was that line on the I-134 had to match 2016's taxes but, what you said makes sense. Thanks. 

[Peot 161]

Recent info might seem best, HOWEVER be prepared to prove it. Bank statements + bank letter MIGHT be enough, but with self-employment, they expect the amount to be reflected on your taxes.

I also question whether or not they would deem bank statement info as "assets" rather than income, in which case you would need to earn 3x the financial requirement.

 

Claiming the 2016 tax amount if it was above the financial requirement would be good enough, and very easy to prove. You also for certain don't need to meet the 3x minimum.

 

Food for thought.

 

My recommendation? Include both. Explain at interview.

Edited September 12, 2017 by Peot

[shawndee 47]

6 hours ago, Peot said:

Recent info might seem best, HOWEVER be prepared to prove it. Bank statements + bank letter MIGHT be enough, but with self-employment, they expect the amount to be reflected on your taxes.

I also question whether or not they would deem bank statement info as "assets" rather than income, in which case you would need to earn 3x the financial requirement.

 

Claiming the 2016 tax amount if it was above the financial requirement would be good enough, and very easy to prove. You also for certain don't need to meet the 3x minimum.

 

Food for thought.

 

My recommendation? Include both. Explain at interview.

If I'm understanding you correctly, you're saying that the 2016 tax return is already sufficient and, that the amount on the bank letter would look like assets (as it's not yet been filed as my income for 2017) so, just put the 2016 info on the form? If so, that makes sense. The amount that I have made so far in 2017 doesn't vary from 2016 by any huge amount but, it will be different. At any rate, I'm planning on being at the interview so I'll explain then. Thanks!

[piff 46]

Amount from 2016 IS NOT sufficient, it will be good to show for AOS if you file before April of 2018, but not more than that, they will issue an RFE

[Peot 161]

On 9/12/2017 at 11:42 AM, piff said:

Amount from 2016 IS NOT sufficient, it will be good to show for AOS if you file before April of 2018, but not more than that, they will issue an RFE

I have no idea what you're talking about regarding AOS in 2018 and an "RFE" for the interview stage.....

 

Showing tax info depends on the embassy / consulate. At the consulate in Canada, for example, the only thing they care about is LAST YEARS tax. They don't care about any other info even though this is not listed on the I-134 form.

[Peot 161]

On 9/12/2017 at 10:04 AM, shawndee said:

If I'm understanding you correctly, you're saying that the 2016 tax return is already sufficient and, that the amount on the bank letter would look like assets (as it's not yet been filed as my income for 2017) so, just put the 2016 info on the form? If so, that makes sense. The amount that I have made so far in 2017 doesn't vary from 2016 by any huge amount but, it will be different. At any rate, I'm planning on being at the interview so I'll explain then. Thanks!

This varies from consulate to consulate. Double check what you should bring with you based on other people in Australia. Last year's taxes plus your current earnings will likely be perfect as there's not much else a self-employed individual can show.