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Frequently Asked Questions

I own a small business. Can I immigrate under the self-employed category?

Frequently Asked Questions - Canadian Immigration Resource -...
Not necessarily. Only businesses that are in the fields of culture, athletics or farm management can be considered under the self-employed category. Examples of Self-employed categories are music teachers, artists, illustrators, film makers, freelance journalists, choreographers, set designers, coaches and trainers, theatrical or musical directors and impresarios.

I'm self-employed. How will you verify my income?

Shearson Mortgage - Mortgage FAQ - Loan Process: Application
Generally, the income of self-employed borrowers is verified by obtaining copies of personal (and business, if applicable) federal tax returns for the most recent two-year period. However, based on your entire financial situation, we may not need full copies of your tax returns. We'll review and average the net income from self-employment that's reported on your tax returns to determine the income that can be used to qualify.

If I am self-employed, is my business considered an asset?

College Assistance Plus
Your family business is only considered an asset if you have over 100 employees. If you have more than 100 employees, however, the current value of the business is included as an asset on your FAFSA.

What is the deadline for filing my 2004 income tax return if I am self-employed?

To avoid penalties you must file your income tax return by June 15th, 2004, however if you have a balance owing you must make your payment by April 30, 2004.

I'm self-employed and cannot prove my income. Can I still get a mortgage?

FAQ - Frequently Asked Questions - The Mortgage Centre - BC ...
Yes! Some lenders offer an N.I.Q. (no income qualify) mortgage where they use your stated income to qualify, on approved credit. You still get favourable rates and, depending on the lender, could get up to 100% financing!

I can't provide proof of my self employed income. Can you still help?

Self Employed Homeowner Loans, Tenant Loans, Mortgages and R...
Yes. We have access to a large number of loan and mortgage products that will accept incomes that are self certified i.e. you cannot provide any other proof of income such as a letter from an Accountant etc. Our professional underwriters will contact you, in the strictest confidence, and discuss the options available to you.

What Income Do I Declare?

Housing - FAQ - Region of Peel
You are required to declare gross income (before any deductions) from all income sources for all household members. ldquo;Income: includes all income, benefits, and gains you receive or may be entitled to, of any kind and from any source. You are required to declare all income, even though some types of income may not be used to calculate your rent-geared-to-income rent.

What about self-employed people?

HSE - Noise: FAQs
If you are self-employed you need to take the same action to protect yourself as an employer takes to protect employees, and to use protective equipment on the same basis as employees. Employers also need to take action to protect those who are employed by them to work at home.

Can a self employed person qualify for this program?

GSFH FAQs
Yes, you must provide two years earnings statements indicating your income level. See your lender for more information.

What if I am Self-employed?

ContractorPlus - Lambert Smith Hampton partnership with SM&a...
Health and safety law applies to all businesses however small. It covers employees, full or part-time, temporary or permanent; self-employed; young people doing work experience; apprentices; charity workers; mobile workers and home workers. Even if you are self-employed, and do not have employees, you still need to assess health and safety risks which may affect you and others, eg other contractors, office staff, members of the public.

Can self employed borrow money for business purposes?

FAQ 's - Loans for self employed
Loansforselfemployed has self employed business loans that specifically cater to business needs of self employed. Expand your business, start up or make any business purchases with business loans.

I want a mortgage loan but I don't have consistent income/I'm self employed. Can you still help me?

General mortgage FAQs for The Mortgage Store Online
Absolutely. We have access to 100's of mortgage loan programs, including no-income verification mortgage programs (where you don't have to show your income at all to qualify for a mortgage), and even self-employed mortgage programs: where you can still get a mortgage even if you don't have consistent income.

Do people practice spiritual direction as a fully self-supporting vocation? If so, how?

PC(USA) - Spiritual Formation - Frequently Asked Questions
Some spiritual directors do support themselves through their profession. Some retreat centers and counseling centers, for instance, hire spiritual directors to supplement the spiritual and psychological services they offer. There is, however, controversy around the question of whether or not to charge those in need of spiritual assistance. Furthermore, those involved in spiritual direction disagree about what role, if any, the Church should play in offsetting such expenses.

I am self-employed, and don't have three years worth of tax forms. What do I send?

Frequently Asked Questions: Children's Health Insurance Prog...
Send Healthy Steps the income verification that you have. (Example: If you opened a daycare in your home six months ago, send a copy of the ledger showing income and expenses dating from the start of the business.)

My ex-spouse lives in Oregon and is self employed. What can I do to obtain support?

ODJFS Online | Office Of Child Support
Your CSEA can register your support order in Oregon for enforcement. The child support agency in Oregon will then be able to use all the enforcement tools available under its state law to collect your support. Your case may qualify for federal prosecution under the Child Support Recovery Act of 1992 or other federal law. You should discuss this possibility with your CSEA. Ohio has reciprocal agreements with several European countries, most Canadian provinces and certain other foreign countries.

How much may a self-employed individual contribute?

Retirement Plans FAQs regarding SEPs
The same limits on contributions made to employees' SEP-IRAs also apply to contributions made to a self-employed individual's SEP-IRA. However, special rules apply when figuring out the maximum deductible contribution. See Publication 560 for details on determining the contribution amount. Most SEPs, including the IRS model Form 5305-SEP, require that allocations to all employees' SEP-IRAs be proportional to their salary/wages.

My Name is Derived From a Trade or Profession. Do I Have a Clan?

Scottish Clans and Tartans FAQ
Abbot, Clerk, Constable, Skinner and Stalker are some examples of a number of Scottish names related to occupations which have become septs or branches of other clans.

Does it count against a Self-Employed Immigrant if he/she never owned a business?

Frequently Asked Canada Immigration Business Class Questions...
While experience in owning a successful business certainly helps, the prior business experience is not a requirement. A Self-Employed Immigrant, however, should demonstrate a strong ability to support him/herself and accompanying family through self-employment income.

What documentation is required to confirm income for Business for Self (BFS) applicants?

Calgary Mortgage Accredited Mortgage Professional
Most lenders require 3 years Notice of Assessment (NOAs) from the Canada Customs and Revenue Agency, 3 years T1 generals from your tax returns outlining your businessactivities, and 3 years financial statements from your accountants. There are exceptions to the above depending on the lender and the type of business you operate.

Do we have to declare any income on a property rented out?

Harvic Residential Property Management - Rental Property Spe...
Yes, rents received are income and need to be declared. Obviously you can claim for such things as maintenance costs, management fees, interest on mortgages and depreciation. We are not tax experts and recommend that clients get independent financial advice. Information is also available on the Inland Revenue Department website (www.ird.govt.nz). There is a booklet available “Rental Income” advising property owners on the tax implications of receiving income from a property.
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