Self-Employed - Questions on the Affidavit of Support

E

eva01

Registered Users (C)
Hi everyone, first post!
I'm sponsoring both my parents with an i30 form. The application has just been processed/approved and now we're waiting for the rest of the process. I filed a 2003 tax return fine when I was employed at a company. However in 2004 and 2005 I've run my own retail internet site. I'm planning to file my 2005 soon and I need to do my 2004 return late.

Is this going to be a problem with the Affidavit of Support? I know I can bring in all the W-2s for 2003 fine. I can bring my 2004/2005 returns once I file them, but I don't have any W-2 or 1099 I can show. Basically I get pain electronically, everything goes through paypal, then gets transferred to my bank account. Is just bringing the returns enough?

Also, they state that I need to earn 125% above the poverty line, is that taxable income, gross, net? Not sure on this one, couldn't find info on that. Thanks for any help. I do have more questions but I think I'll start a different thread for that>
 
Make sure and file your taxes and bring them along with evidence of your current income like your Paypal statement with you. If they don't like that, they will issue you a RFE and tell you what specifically they want.

Unadjusted is line 22 on your 1040 so it looks at all your income before taxes.
 
I was wondering if someone has knowledge and can confirm if I was right in my understanding;

The Affidavit of Support instruction says that if your income doesn't meet the 125% of poverty line you can show assets to compensate the difference between your income and the poverty line. Those assets should be the equivalent cash value of 5 times the difference mentioned above.

For the sake of the example I'm going to use some numbers:

The 125% poverty line for a family of 5 (including the 2 sponsored parents) is $28,262.00

Let's assume the income is $0.00 then 5 times the difference between the poverty line and income is: ($28,262-$0.00) x 5 = $141,310.00

If we present assets in a total amount over $141,310.00 will that be sufficient to qualify as a sponsor, regardless the income shown on the last income tax?

I'll say yes. What is your opinion?

I'll appreciate your comments. Thank you. :)
 
Last edited by a moderator:
I showed the required assets in place of income on our application and did not receive a RFE. But I guess I won't know for sure if it is acceptable until the interview.
 
Hi Suzy

When I prepared my I-864, I realized that my husband's income on the tax return was lower than 125% of the poverty line for our household size, so to cover the difference, I used the house that was way more than the 5 times the income we couldn't prove. The receipt date for my I-485 and I-130 was 1/2/06, the letter requesting more evidence for the affidavit of support was dated 1/31/06. Then I called the 1-800 number and they told me the problem could have been that I used our principal residence as an asset. Then I redid the whole thing using other assets, not the house this time. The status online changed from receipt number not found to we received further evidence on 02/13/06 and it takes between 120 to 180 days to process, bla bla...and because some of the process had been completed, it would take less than 180 days.
So I guess now we passed that phase, just make sure you don't use the house and I think you should include some income, even though it's low. And the tax returns are always something they expect to see.

Suzy977 said:
I was wondering if someone has knowledge and can confirm if I was right in my understanding;

The Affidavit of Support instruction says that if your income doesn't meet the 125% of poverty line you can show assets to compensate the difference between your income and the poverty line. Those assets should be the equivalent cash value of 5 times the difference mentioned above.

For the sake of the example I'm going to use some numbers:

The 125% poverty line for a family of 5 (including the 2 sponsored parents) is $28,262.00

Let's assume the income is $0.00 then 5 times the difference between the poverty line and income is: ($28,262-$0.00) x 5 = $141,310.00

If we present assets in a total amount over $141,310.00 will that be sufficient to qualify as a sponsor, regardless the income shown on the last income tax?

I'll say yes. What is your opinion?

I'll appreciate your comments. Thank you. :)
Click to expand...
 
lakelady said:
Hi Suzy

When I prepared my I-864, I realized that my husband's income on the tax return was lower than 125% of the poverty line for our household size, so to cover the difference, I used the house that was way more than the 5 times the income we couldn't prove. The receipt date for my I-485 and I-130 was 1/2/06, the letter requesting more evidence for the affidavit of support was dated 1/31/06. Then I called the 1-800 number and they told me the problem could have been that I used our principal residence as an asset. Then I redid the whole thing using other assets, not the house this time. The status online changed from receipt number not found to we received further evidence on 02/13/06 and it takes between 120 to 180 days to process, bla bla...and because some of the process had been completed, it would take less than 180 days.
So I guess now we passed that phase, just make sure you don't use the house and I think you should include some income, even though it's low. And the tax returns are always something they expect to see.
Click to expand...

Very educating, thank you for your explanation:)

So, everybody should keep this in mind, the main residence can't be used as acceptable asset.

Even though they don't say anything about this in the instruction :rolleyes:

I guess because the asset should be easily transformed in cash within one year period or less, if they take it from you, and the main residence they can't take in case...
 
sometime2006 said:
I showed the required assets in place of income on our application and did not receive a RFE. But I guess I won't know for sure if it is acceptable until the interview.
Click to expand...
Thank you for your prompt answer :)
You didn't show any income or your income was too little and you have to show assets too?



Anybody else with assets instead of income?????

.
 
Last edited by a moderator:
Nice thread hijacking. If you have your own question it's best to put it in a new topic, that's common forum courtesy.
 
we used assets in addition to income... my dad owns his own company... in europe... they accepted it but sent RFE for 2005 tax return for sponsor... everything went smoothly, they accepted the assets. he now has his green card.
 
No receipt No. for DV lottery AOS

I won the dv lottery May 2005 for 2006 DV lottery. I sent all forms and fees to Lockbox in Chicago in July 2005. To date I have no receipt no. and recently I called the National Service Center and they told me to ask the US Postal Service for a copy of money order. I have just received the copy of money order and there is a MSC no. Does anyone know whether the receipt no. should be written on the back of money order. There are several numbers there. I am worried as the cut off date is Sept. 30th and I am going on vacation with my family soon.

Thanks for any help.
 
Vuki, you seem to be in the wrong thread in the wrong forum!!
You need to go to the DV Lottery forum and post a new thread, ok? :)
 
You must log in or register to reply here.
Top