 |
 | Home | Contact Us | FAQ | Search & Site Map | Link to Us |
 | Sign In | Join | Other 45 Sites in Network |
| HomeDiscussion GroupsAustralia and NZCanadaUSAUSA Marriage Base ImmigrationKB.com Contact UsLink To UsSearch & Site Map |
Immigration Forum / USA Marriage Base / August 2006More complex I-864 question
Hello everyone, I am getting ready to prepare the I-864 for my AOS (I-130 based) and I have a slightly more complex question: I am employed as a university instructor pilot and I get paid on an hourly basis. My income is highly variable, since it depends of factors like weather and student loads during the summer months. Furthermore, one of the perks of the job is being able to take extended "vacations" during the summer months (if one wants to). I own 2 real estate properties (one in US, one in Europe), both generating income that is far greater than my job's salary. In 2005 my income was $15,000 and my wife's was around $5,000. The combined income puts up ABOVE the poverty line, so there is no problem. However, during 2006 I have worked considerably less hours, as well as taking 4 months off during the summer to complete some graduate school work. As a result, my current year-to-date income for 2006 is only around $7,000. This information is printed on my pay stubs and will therefore be visible to the adjudicating officer. Although I am now working full-time again, I *KNOW* I will not reach the poverty line threshold for 2006. Furthermore, my wife's income for 2006 will also be much lower than for the previous year. What should I do? Option A: File the I-864 using 2005 income (which puts us above poverty), attach current pay stubs and hope the officer approves the petition based on the 2005 income (hoping he doesn't read the 2006 YTD income). Then, at the AOS interview (which will be in 2007, hopefully!) bring an updated I-864 showing how my real estate property value makes up for any deficiencies in income. Option B: Include my real estate properties (even just the one located in the US) in the original I-864 submission. This would make the most sense, however in the instructions is clearly says to ONLY include asset information if you don't reach the poverty line, which in 2005 we did. What do you recommend? I am leaning more towards the second option. I figured since I have to attach all the real estate information on a separate sheet of paper, I could include a brief explanation as to why I am including my asset information. Does anyone suggest a third option? Thank you in advance for your replies. John > Hello everyone, > [quoted text clipped - 47 lines] > > John Hi John, Can you show that the liquid asset value of the property is 5x the amount you are deficient on income? For example, if you are short $10,000 on income, your property will have to show $50,000 value free and clear. Meaning if you were to sell it, that's what you'd get out of it. If so, I vote for including it...Option 2. Rene > Hi John, > [quoted text clipped - 7 lines] > > Rene psst---is it 3X now? > psst---is it 3X now? Yes, the value of the house covers any kind of deficiency. I think meauxna is right, its 3X for spouse. But the problem is that if I do the math step-by-step on the I-864 I come up with a negative number as far as the deficiency...in other words I have a "surplus" of income since my 2005 yearly income as reported on my tax return (and my wife's) is above the poverty line.... > Yes, the value of the house covers any kind of deficiency. > I think meauxna is right, its 3X for spouse. [quoted text clipped - 4 lines] > reported on my tax return (and my wife's) is above the poverty > line.... I've got a pretty strong feeling that this is a good thing. Ian > Yes, the value of the house covers any kind of deficiency. > I think meauxna is right, its 3X for spouse. [quoted text clipped - 4 lines] > reported on my tax return (and my wife's) is above the poverty > line.... The 2005 income and your current income are 2 different things. If your asset value is enough, include it...whether you show enough income or not. Then you're on the safe side. And thanks for the tip...I didn't realize it changed from 5x to 3x. Rene > The 2005 income and your current income are 2 different things. If > your asset value is enough, include it...whether you show enough [quoted text clipped - 3 lines] > > Rene Hi Rene, you are completely right. After reviewing the form instructions it asks for "Current Income", not the 2005 income. I just realized that now. The only part of the instructions that links the lasts year income to the income declared on the affidavit is a phrase under #25 which reads: "For purposes of this affidavit, the line for gross (total) income on IRS Forms 1040 and 1040A will be considered when determining income." I think it is because for MOST people who have a fixed salary, lasts year income is a pretty good indication of this year's. However, my income is highly variable and can depend on many factors beyond my control (such as weather...which you know how that's been in AZ this summer...). My current year-to-date earnings are only $7,000 and I know for sure I will not reach $15,000 by the end of the year. ($15,000 was my 2005 income) Having said that.... what should I enter for current income? $15,000 - Which would be unrealistically high for this year, but substantiated by my 2005 tax returns OR my best-shot educated guess at what my total 2006 income might add up to OR add up my pay stubs for the past 12 months OR any of the above / it doesn't really matter / since I will include assets is excess of $200k, no matter which of the above I use the officer will be satisfied that I can support myself? In case you recommend the last option, which number for annual income do you recommend anyways? Thank you again for all your help, John > Hi Rene, you are completely right. After reviewing the form > instructions it asks for "Current Income", not the 2005 income. I just [quoted text clipped - 40 lines] > > John I'd do these two, if it were me. Rene > Yes, the value of the house covers any kind of deficiency. > I think meauxna is right, its 3X for spouse. [quoted text clipped - 4 lines] > reported on my tax return (and my wife's) is above the poverty > line.... By the way, I was reading the requirements for using my income (I am the immigrant) to be counted in the household income. How exactly do I "Prove that the intending immigrant's current employment will continue from the same source after he becomes a lawful permanent resident??" Would a letter from my current employer stating that I occupy a "permanent" position and that my job is not temporary suffice? I could have this statement included in the employment letter that shows I am currently employed. Would this be enough or is there more to it? Thanks again to everyone! I appreciate all your help. John > By the way, I was reading the requirements for using my income (I am > the immigrant) to be counted in the household income. [quoted text clipped - 11 lines] > > John Yep, that would be about the only thing you can do to prove such a thing. :) Rene |
Reply to this Message |
 Sign In
 Join
 My Latest Posts My Monitored Threads My Blog My Photo Gallery My Profile My Homepage Start New Thread Enable EMail Alerts Rate this Thread
|
©2009 Advenet LLC Privacy Policy - Terms of Use
This website includes both content owned or controlled by Advenet as well as content owned or controlled by third parties.