I-134 question..please help

[maui]

hi all,
my question is regarding the annual income..since both my husband and i are self employed, we are allowed to deduct a LOT of things, including our huge mortgage payments and home office remodel, car expenses, business expenses etc etc..so the point is that after all that, the total profit does not seem as high..my question is, can we write our gross income before the deductions as our annual income on the I-134? or would this cause a problem if the VO is looking just at the front page of the returns and thinks that there is a problem with the numbers?

any input will be highly appreciated..much aloha

[immihelp]

You need to write your net income on which you pay taxes.

I am not sure you should be taking deductions for mortgage payments of your house or home office remodeling. If you do so, that may become a company property and if someone sues your company, that may be considered your company asset. I am not tax expert, but you should discuss with your CPA about it.

[maui]

hi,
thank you so much for your reply..yes, actually my CPA prepares our taxes every year..but i apologize when i said we deduct our mortgage, its actaully mortgage interest (might as well be, since a very small part goes toward the pricipal) that is allowed to be deducted for home owners on their federal taxes. and self employed are allowed to deduct home office expenses.

anyway, i guess we should only mention the income that we pay taxes on..what would be a good annaul income number to sponsor 1 person on a tourist visa? thank you in advance..

aloha