Lipquick

10 minutes ago, Ayrton said:

Total Income on the form is not Gross Income, though.

 

Like @carmel34 said, Total Income line from the transcript comes from the schedules for someone that is self employed.

 

So whatever Total Income OP has on the transcript/1040, that's what they should write down on the form. 

My form 864 has been submitted back in June 2020.

Due to pandemic delays and extensions, my taxes for 2019 were not yet filed, so I submitted 2018 tax returns and 2019 1099's.

My concern now is filing my 2020 returns.

I can aggressively reduce my tax burden legally and get my taxable income between 0 to 10k, or I can bite the bullet and take a tax hit on $25 to $35 k, whatever puts me over the minimum comfortably.

That means I will have to pay 7 to $12k in taxes, versus paying little to nothing at all.

Just now, wingman23 said:

my wife is also a sole proprietor of her LCC and we reported in our I-864 the TOTAL INCOME and not GROSS INCOME.

 

we got the approval for green card after our interview yesterday!

Congratations! What is total? You mean net? I understand gross to mean total, pre-tax income, while net is your taxable income after various deductions and credits.

Right. The thing is I don't pay myself an income.

I actually showed a loss Last year of $4000.

I don't use an S Corp, I have an LLC and am a sole proprietor.

Someone on this site must be in a similar situation.

17 hours ago, JonSeattle said:

You don't need an SSN to file your taxes. I haven't done this yet, but it appears that you file a W-7 with your tax return, and that will cause the IRS to assign you an ITIN

 

https://www.irs.gov/individuals/individual-taxpayer-identification-number

 

I just read through this W7, and it says don't file this form if you have a pending SSN application. We sent in the complete packet for adjustment of Status, including the application for the EAD.

Doesnt this disqualify my wife from using the W7 because we have a pending application?

We are in the exact same position as the OP.

Thank you lucky Cat. From that same source,

"The State Department interprets “income” for purposes of the affidavit of support to be “total unadjusted income as shown on the tax return, before deductions.”

seems like conflicting information. 

i haven't filed my taxes yet; and so far with my deductions I have reduced my taxable income to $35,864.

this doesn't include annual business credit card interest, per diem, marriage tax credit, and at least another $2000 in expense deductions.

I could probably get my taxable income to 0 again for 2020, but I don't want to disqualify myself as a sponsor to my wife.

Do I have to claim a higher net income and pay more taxes to simply qualify for my wife's greencard sponsor? Does bank account balances and investment accounts factor into the equation? 

My wife just had her Biometrics appointment and we are excited to be moving along the process.

My question is about income qualifications.

I am an LLC small business owner and use schedule C on my returns.

In 2019 my 1099 gross income was $164,000, and 0 taxable income.

In 2020 my 1099 gross is $265,000, but with my various deductions and credits my taxable income will probably be closer to $10,000.

I know the income requirements are 125% of the federal poverty guidelines, or $21,550 for a household of 2.

Do I need to show a taxable income above that, even though my 1099 shows a gross more than 10x that amount? 

Thanks for all your input on this, happy new year!

hello...my girlfriend is from Thailand. she has an interview in Chiang Mai tomorrow for a c1 visa to transit through LAX on the way to Mexico, and back through Dallas to go back to Thailand one week later. She already applied for a Mexican visa and was denied. they told her she needs the US transit visa first. The us embassy website says you need proof of permission to enter the country you are transiting to first....but apparently if you have a US transit visa you can enter Mexico without a Mexican visa....is this accurate?  Mexico won't give her a visa without getting a USA transit visa first...and the US embassy site says she needs the Mexican visa first ...therefore an impossible scenario...please shed some light on this...I fear she will get denied on this tragic scenario..

Thank you for all your considerate replies. So i guess i can claim residency as i am on my 4th non imm b visa in thailand. My gf is a 4th year university student. She has no money or job or place...she lives with me. I wonder 2 things...1. My spanish friends situation...does it correlate. He easily took his gf to spain on a 3 week holiday. One crucial requirement was a document from police stating his parents had a home in spain, they would be staying there, and they(his parents) would assume all responsibilities for her as a guest. And 2. Ning...after 8 VISITS to the US embassy with the CO...have you been denied a tourist visa...and what details dis the CO tell you? My feeling now is she applies for a B2...as we are not married or engaged it is the lawful way...

Ok but if she applies for a tourist visa...and it is noted in truth..she has a bf...is going to meet her bf's family...how does that pan out? Neither of us want to stay permenantly in the states...we have our life in thailand.

I have lived in Thailand for about 6 years on a non immigrant b visa. I go back to usa every year to work and visit for 2 months. How can i bring my girlfriend along for the next trip to meet my family and friends? Unfortunately I have no verifiable income...