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Title: Gary Bala, Self-Employed, etc. Post by: Looking4Wife on February 23, 2005, 05:00:00 AM This is all hypothetical of course… :-)
In reference to proving income sufficient to support a Latina wife during the marriage/fiancé visa/readjustment of status process… Suppose that you are a self-employed business owner (Corporation or LLC). Both you personally, and your company LEGITIMATELY and LEGALLY show little or no income. You can do this legitimately because tax write offs are inherent in the nature of your business, which is, hypothetically, Real Estate. So looking at tax returns you make no income (as opposed to revenue), however you have significant business and personal assets with a ton of equity, and maybe even a lot of cash in the bank. When it comes to bringing over a Latin wife… Can your asset base, cash in bank, revenues flowing into bank account, real estate holdings, offset a lack of “income” showing on your tax returns? Gracias Title: Re: Gary Bala, Self-Employed, etc. Post by: Neil on February 23, 2005, 05:00:00 AM ... in response to Gary Bala, Self-Employed, etc., posted by Looking4Wife on Feb 23, 2005
[This message has been edited by Neil] the affidavit of support gives you several ways to qualify, by income or by assets. If you income is low on the tax return you need to have your fianee bring to the interview your bank statements/stock and bond account and list of your real estate properties, maybe the deeds also. You could also submit tax returns for the next previous years, assuming you made money above the poverty level on those years. Title: Gracias! (no text) Post by: Looking4Wife on February 23, 2005, 05:00:00 AM Title: Re: Re: Gary Bala, Self-Employed, etc. Post by: Cali James on February 23, 2005, 05:00:00 AM ... in response to Re: Gary Bala, Self-Employed, etc., posted by Neil on Feb 23, 2005
[This message has been edited by Cali James] http://uscis.gov/graphics/howdoi/affsupp.htm#income From the Affadavit of Support FAQ - I-864 . You may add the cash value of your assets such as money in savings accounts, stocks, bonds, and property. To determine the amount of assets required to qualify, subtract your household income from the minimum income requirement (125 percent of the poverty level for your family size). You must prove the cash value of your assets is worth five times this difference (the amount left over). Example for a household size of 4: You may count the income and assets of members of your household who are related to you by birth, marriage, or adoption. To use their income you must have listed them as dependents on your most recent federal tax return or they must have lived with you for the last 6 months. They must also complete a Form I-864A, Contract between Sponsor and Household Member. If the relative you are sponsoring meets these criteria you may include the value of their income and assets, but the immigrant does not need to complete Form I-864A unless he or she has accompanying family members.
Title: Gracias! Excelente! (no text) Post by: Looking4Wife on February 23, 2005, 05:00:00 AM Title: Re: Gary Bala, Self-Employed, etc. Post by: Cali James on February 23, 2005, 05:00:00 AM ... in response to Gary Bala, Self-Employed, etc., posted by Looking4Wife on Feb 23, 2005
[This message has been edited by Cali James] My recollection is that if you have no 1040 income, you need to show assets (less encumbrances) with a cash value that is at least five times greater than the income requirement for your given situation. Go to: uscis.gov for more complete information. You'll find the requirement on the affadavit of support form I believe. |