Self Employed Poverty Guidelines

[Afghanguy 6]

I am self employed and getting ready to do my taxes. I have a son from previous and she is with ex wife who claims him on her taxes..I do pay child support, and also have shared custody.

 

My question is how much should my income be on taxes to meet the guidelines. For self employed do I have to show 2 years of taxes or just most recent? My case is waiting to be transferred to NVC so I am just preparing ahead of time on how much income I would need..

 

Thank you and please dont tell me to look in other forums for the answer I have tried and could not locate so thus posting.

[pushbrk 12,979]

3 hours ago, Afghanguy said:

I am self employed and getting ready to do my taxes. I have a son from previous and she is with ex wife who claims him on her taxes..I do pay child support, and also have shared custody.

 

My question is how much should my income be on taxes to meet the guidelines. For self employed do I have to show 2 years of taxes or just most recent? My case is waiting to be transferred to NVC so I am just preparing ahead of time on how much income I would need..

 

Thank you and please dont tell me to look in other forums for the answer I have tried and could not locate so thus posting.

Study those instructions.  Your "current income" will come from the "Total Income" line of your tax return.  Your son counts in your household size.  You only need to supply the latest tax return, but you will enter information from three tax returns.  Seems you haven't even looked at the form yet.  Becoming an A-Student of both the affidavit itself and it's separate excellent instructions will be critical to  your ultimate success.

[Afghanguy 6]

On 4/1/2024 at 4:32 PM, pushbrk said:

Study those instructions.  Your "current income" will come from the "Total Income" line of your tax return.  Your son counts in your household size.  You only need to supply the latest tax return, but you will enter information from three tax returns.  Seems you haven't even looked at the form yet.  Becoming an A-Student of both the affidavit itself and it's separate excellent instructions will be critical to  your ultimate success.

Thank you so much...so looking at the chart it will be household of 3 me, wife and son...32000$ 125% above...final question...my 2023 taxes are above that levels but 2022, 2021 are not..will that hurt me?? thanks again

[pushbrk 12,979]

6 hours ago, Afghanguy said:

Thank you so much...so looking at the chart it will be household of 3 me, wife and son...32000$ 125% above...final question...my 2023 taxes are above that levels but 2022, 2021 are not..will that hurt me?? thanks again

It might.  Not sure what you're saying though.  $32,275 is the minimum income to qualify for a  household of 3. That's 125%...OF...the poverty level, not 125%....ABOVE...the poverty level.  124% of equals 25% above.  Current income is King, but marginally above only in the most current year is a weak king.