Proof of income requirements (Merged)

[may1330 0]

My 2022 tax return shows a low Total Income due to my new business losses. Of course, for tax purposes I was trying to get my income as low as possible. Can the wages and salaries be used to support the income requirements? or does it required to rely on the Adjust Gross income? Also, the 2023 income will show better, but I am waiting for my business K-1s. So, I won't be able to file the 2023 returns until July. I want to avoid an additional 8-12 week delay. Can I substitute may 2023 W-2's/1099's and/or bank statements? Or am I required to use Tax returns? Any feedback will be greatly appreciated. Thanks

[SalishSea 16,784]

9 minutes ago, may1330 said:

My 2022 tax return shows a low Total Income due to my new business losses. Of course, for tax purposes I was trying to get my income as low as possible. Can the wages and salaries be used to support the income requirements? or does it required to rely on the Adjust Gross income? Also, the 2023 income will show better, but I am waiting for my business K-1s. So, I won't be able to file the 2023 returns until July. I want to avoid an additional 8-12 week delay. Can I substitute may 2023 W-2's/1099's and/or bank statements? Or am I required to use Tax returns? Any feedback will be greatly appreciated. Thanks

@pushbrk

[may1330 0]

Since, 2023 is not late or required at this point, would 2022 be considered the most recent tax period?

[may1330 0]

1 minute ago, may1330 said:

Since, 2023 is not late or required at this point, would 2022 be considered the most recent tax period?

@https://www.visajourney.com/profile/17184-pushbrk/

[powerpuff 5,907]

One duplicate thread removed and another related thread was merged with an existing one. Please do not start more than one thread per topic and post further related questions in this thread only.

 

VJ Moderation 

[may1330 0]

Just now, powerpuff said:

One duplicate thread removed and another related thread was merged with an existing one. Please do not start more than one thread per topic and post further related questions in this thread only.

 

VJ Moderation 

Why was it merged? It is a completely different question.

 

[powerpuff 5,907]

1 minute ago, may1330 said:

Why was it merged? It is a completely different question.

 

Both threads had to do with income qualifications and tax returns are part of that. The threads will stay merged.

[SalishSea 16,784]

21 minutes ago, may1330 said:

Since, 2023 is not late or required at this point, would 2022 be considered the most recent tax period?

You’re aware that the deadline for filing 2023 taxes is in 4 days, right?

[pushbrk 12,124]

2 hours ago, may1330 said:

My 2022 tax return shows a low Total Income due to my new business losses. Of course, for tax purposes I was trying to get my income as low as possible. Can the wages and salaries be used to support the income requirements? or does it required to rely on the Adjust Gross income? Also, the 2023 income will show better, but I am waiting for my business K-1s. So, I won't be able to file the 2023 returns until July. I want to avoid an additional 8-12 week delay. Can I substitute may 2023 W-2's/1099's and/or bank statements? Or am I required to use Tax returns? Any feedback will be greatly appreciated. Thanks

If you are self employed, your current income is stated based on the "total income" line of your latest filed US Federal Tax Return.  There is no way around that.  You now know that the year you sponsor an immigrant is not a year to show too little income on your tax return, but too late now.  If you have to wait until July, so be it.  It's that or get a joint sponsor.

AGI and Total Income numbers are sometimes the same, but thinking you use the AGI line means you didn't read carefully enough.  You missed everything that told you the one and only circumstance where AGI is applicable.