h1techSlave
04-12 03:40 PM
I have read online that S-corp is better than LLC. Is that true?
Below is some info that I have collected:
Anyone who is planning to do business within the State of Maryland, using a name other than their own personal name, must register with the state of Maryland (Business.gov - Official Business Link to the U.S. Government (http://www.business.gov/states/maryland/assistance.html) ). If your business is a sole proprietorship, you do not need to register your business with the state.
For help selecting a legal structure for your business, visit our Business Incorporation (Business.gov - Official Business Link to the U.S. Government (http://www.business.gov/states/maryland/assistance.html)) guide.
Your choices include sole proprietorship, partnership, corporation, "S" corporation or limited liability corporation (LLC). Personal liability, taxes, paperwork and regulations vary greatly among the different legal business structures. Your attorney and accountant will play a key role in assisting you in this important decision.
C Corp will be double taxation. While S corp is not.
The profit earned thru C Corp can be taken out by the owner of the company. But he has to pay 15% tax.
What company to start - LLC (or) C- Corp. In our non-immigrant view, this is the difference - Under LLC, your company A's financial profit/loss etc will appear on your tax return. In other words, when you are out there at the consulate requesting a visa (or) for any other purpose and the officer asks for your tax return, there is a likelihood that the officer will ask you about all those financial records in the tax return.. and you will have to explain about your company which could lead to some other questions - what company and who are the employees etc etc ??
Under C- corp - it is like investing in the stock market. It will show that you have invested in a company stock and that company has paid you dividends. Period. So personally i prefer C-corp... there will be less questions in the future. I donot know if i'am right or wrong. Professionals out there can correct me if i'am wrong.
Now for the real differences - Under C-corp, you will be taxed twice - (ie) The company makes profit and there is a tax on that. Now the company divides the profit and gives it to its owners (you), and you get taxed for the dividends. bottomline - if C-corp, then it is like investing in the stock market.
Under LLC - the company profit's trickle down to your profits and you pay taxes only once.
Below is some info that I have collected:
Anyone who is planning to do business within the State of Maryland, using a name other than their own personal name, must register with the state of Maryland (Business.gov - Official Business Link to the U.S. Government (http://www.business.gov/states/maryland/assistance.html) ). If your business is a sole proprietorship, you do not need to register your business with the state.
For help selecting a legal structure for your business, visit our Business Incorporation (Business.gov - Official Business Link to the U.S. Government (http://www.business.gov/states/maryland/assistance.html)) guide.
Your choices include sole proprietorship, partnership, corporation, "S" corporation or limited liability corporation (LLC). Personal liability, taxes, paperwork and regulations vary greatly among the different legal business structures. Your attorney and accountant will play a key role in assisting you in this important decision.
C Corp will be double taxation. While S corp is not.
The profit earned thru C Corp can be taken out by the owner of the company. But he has to pay 15% tax.
What company to start - LLC (or) C- Corp. In our non-immigrant view, this is the difference - Under LLC, your company A's financial profit/loss etc will appear on your tax return. In other words, when you are out there at the consulate requesting a visa (or) for any other purpose and the officer asks for your tax return, there is a likelihood that the officer will ask you about all those financial records in the tax return.. and you will have to explain about your company which could lead to some other questions - what company and who are the employees etc etc ??
Under C- corp - it is like investing in the stock market. It will show that you have invested in a company stock and that company has paid you dividends. Period. So personally i prefer C-corp... there will be less questions in the future. I donot know if i'am right or wrong. Professionals out there can correct me if i'am wrong.
Now for the real differences - Under C-corp, you will be taxed twice - (ie) The company makes profit and there is a tax on that. Now the company divides the profit and gives it to its owners (you), and you get taxed for the dividends. bottomline - if C-corp, then it is like investing in the stock market.
Under LLC - the company profit's trickle down to your profits and you pay taxes only once.
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Milind123
09-13 12:17 PM
mohitb272, wolfsappi, kanaihya and of course sam
Thank you for your contribution. kanaihya no contribution is small. I consider it a very big contribution because you made it in spite of having a big debt.
We need one more newbee to squeeze the trigger so I can have the pleasure of taking the last shot in this round. :cool:
Thank you for your contribution. kanaihya no contribution is small. I consider it a very big contribution because you made it in spite of having a big debt.
We need one more newbee to squeeze the trigger so I can have the pleasure of taking the last shot in this round. :cool:
snhn
06-10 11:32 AM
Drunk With ImmigrationVoice. :D
good to see that we still can laugh in such uncertain times as far as immigration is concerned. made me laugh... surprise seeing this funny comment coming from Pappu.... good one...
good to see that we still can laugh in such uncertain times as far as immigration is concerned. made me laugh... surprise seeing this funny comment coming from Pappu.... good one...
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lazycis
11-20 05:59 PM
I can understand attorney's thinking: H1B is good to have. If there is no reason for its revocation (i.e applicant is still working for H1 sponsor), then there is some level of protection for you. Another aspect is a legal status. While EAD gives you an opportunity to continue work legally if I-485 is denied, it does not protect your legal status (accumulate more than 180 days of unlawful presence and you lose eligibility to adjust status and are a subject to re-entry ban). Having H1B gives you a protection in this case. But if H1B is revoked, I-485 is denied and a person does not have EAD, then there is no escape. It's nice to have both, but maintaining EAD should be the priority.
more...
saimrathi
08-10 01:46 PM
Did you file concurrent?
Its random at best then anything else. According to my lawyer, my application (EB2) was there July 2nd morning.
Its random at best then anything else. According to my lawyer, my application (EB2) was there July 2nd morning.
test101
07-24 04:40 PM
Even if you are RN licenes and educated in the USA. You still need a visa screen. I had to apply for visa screen. In my case it took only 1 week to get it. you can apply on line and send your documents. I'm not sure about the EAD though. YOu may wwant to post your question on the free Consultaion thread.
www.cgfns.org
www.cgfns.org
more...
saimrathi
08-23 02:59 PM
I have filed I-129 and I-539 at VSC (RD 7/16/07) and also concurrently file I-140 + 485 at NSC on 7/2/07 (No Checks cashed yet). My H1 and spouse's H4 expires on 9/30/07. And so does our DL.
I called the PA DoT and they said that they need the following documentation for the DL renewal:
H1B & H4 Visa
Passport
I-94
Visa
Proof of employment (For H1 only)
2 Proofs of residency (For H1 only)
Rejection letter from SS Office (for H4 only)
They will not accept a Receipt Notice. They also said that if the Visa wasn’t valid for more than a year, they will not renew DL. I don’t know if they will accept a Visa stamp on the passport or approval of I-129 & I-539 will suffice.
From your experience, at this time, if we apply for PP, will they process my spouse's application along with mine, so both approvals come around the same time? Please advise.
I called the PA DoT and they said that they need the following documentation for the DL renewal:
H1B & H4 Visa
Passport
I-94
Visa
Proof of employment (For H1 only)
2 Proofs of residency (For H1 only)
Rejection letter from SS Office (for H4 only)
They will not accept a Receipt Notice. They also said that if the Visa wasn’t valid for more than a year, they will not renew DL. I don’t know if they will accept a Visa stamp on the passport or approval of I-129 & I-539 will suffice.
From your experience, at this time, if we apply for PP, will they process my spouse's application along with mine, so both approvals come around the same time? Please advise.
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psaxena
01-10 06:09 PM
There are ton of companies that you can go thru. My case was worse than yours, I am on EAD with expired visa. I already had a house on which I was trying to get the loan modification and when going through that process my credit was screwed up. There was no way I could have got the loan from BOFA or chase or any other big names. I went thru a very small loan servicing company who service the loan and make a portfolio of loans and sell to big banks. Even with that small company it was almost impossible but my loan officer got it thru and finally we moved into a new house then.
So bottom line , kick the lame a** loan officer and look for someone else.
Thanks sy. I fully agree it's the agent we deal with. My BOA loan coordinator is extremely stubborn & doesn't have any clue regarding immigration. From day 1 she is stuck on unexpired I-94 & till today she asks me to furnish that. Is it possible that I can contact you or any of your friends through email / phone & discuss to check where I am going wrong. I can furnish my contact details if needed.
So bottom line , kick the lame a** loan officer and look for someone else.
Thanks sy. I fully agree it's the agent we deal with. My BOA loan coordinator is extremely stubborn & doesn't have any clue regarding immigration. From day 1 she is stuck on unexpired I-94 & till today she asks me to furnish that. Is it possible that I can contact you or any of your friends through email / phone & discuss to check where I am going wrong. I can furnish my contact details if needed.
more...
SDdesi
08-12 12:32 PM
They could have done this and re-captured visas with additional fees or whatever. And called it greencard fraud fees it that makes them happy. But the fact is they did not want to do anything to give relief to Immigrants. Recapture (hundreds of thousands of visas) would have significantly helped helped retrogressed countries like EB3 India, China, ROW and EB2 India China. They can take additional fees as long as we know the recapture is being done.
Just looking at the employment based inventory statistics, if every applicant were charged $2000 for visa recapture, it is close to $400M for uncle sam. All EB backlogs would be eliminated, new immigrants would continue contributing to Social security, pay taxes, buy new homes, invest etc... Cant they see the potential upside to this?
Just looking at the employment based inventory statistics, if every applicant were charged $2000 for visa recapture, it is close to $400M for uncle sam. All EB backlogs would be eliminated, new immigrants would continue contributing to Social security, pay taxes, buy new homes, invest etc... Cant they see the potential upside to this?
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inskrish
09-28 09:53 PM
Kidding aside, when I get my GC and then US citizenship, I will apply for a position in DHS....or in FBI.....
Well, do you want to be the most cursed person in the world?:D
Regards,
IK
Well, do you want to be the most cursed person in the world?:D
Regards,
IK
more...
GCapplicant
08-14 12:34 PM
I read in one of the Ron's post -CHc trying to stop even small immigration bills which has no amesty in it.So even the nurse recapture bill is at stake.
So ,I'm sorry -I beleive no one will even touch our case.Apply in EB2 port PD or get new PD either will be helpful .But seeing new backlog for I 140 its terrible.
I might apply for Canadian GC-Having kids here ,man they are adapted to this country living.That's the only thing bothering - kids future.
So this bill this year is at stake for sure.No one cares ...including change-what change there woudnt be any change in new party too.Its all drama going.I lost the trust.Its as if EB3 is not educated.
I'm just wondering-Will this problem be there if it were for ROW-or is it our color...that they dont want to aid.It's sure racism.
How many EB3 are there in total...Who asked them to flood the applications last year? :mad:
Its bloody hell out here.no wonder some people become saddist later half ...who woudnt when they are treated like this from begginning.
Now I have to hate myself applying in EB3.:rolleyes:
EB2 guys have been diverted from participating in any campaign now.so no bothering congressmen.
I have mailed to Senator Menendez -NJ thanking him for introducing the new bill and to do the needful.So far no news.
So ,I'm sorry -I beleive no one will even touch our case.Apply in EB2 port PD or get new PD either will be helpful .But seeing new backlog for I 140 its terrible.
I might apply for Canadian GC-Having kids here ,man they are adapted to this country living.That's the only thing bothering - kids future.
So this bill this year is at stake for sure.No one cares ...including change-what change there woudnt be any change in new party too.Its all drama going.I lost the trust.Its as if EB3 is not educated.
I'm just wondering-Will this problem be there if it were for ROW-or is it our color...that they dont want to aid.It's sure racism.
How many EB3 are there in total...Who asked them to flood the applications last year? :mad:
Its bloody hell out here.no wonder some people become saddist later half ...who woudnt when they are treated like this from begginning.
Now I have to hate myself applying in EB3.:rolleyes:
EB2 guys have been diverted from participating in any campaign now.so no bothering congressmen.
I have mailed to Senator Menendez -NJ thanking him for introducing the new bill and to do the needful.So far no news.
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gcwait
09-11 05:06 PM
Contributed small amount of $100.
more...
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priti8888
07-23 04:08 PM
That gives me some hope..My PD is EB3 India Oct 2004...I am filing 485 now..hope I get GC in 2 years from now!!!!
I am sure you'll get GC by the end on this year or early next year. I might have called USCIS abt 15-20 times and from what I understand dates would retrogress for eb3 India, but not horribly. My guess in of the total applications in August 30% have older PD 02/03/04. Becuause pf PERM processing majority are 05/06/07.
I am sure you'll get GC by the end on this year or early next year. I might have called USCIS abt 15-20 times and from what I understand dates would retrogress for eb3 India, but not horribly. My guess in of the total applications in August 30% have older PD 02/03/04. Becuause pf PERM processing majority are 05/06/07.
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amitjoey
07-18 04:58 PM
Contributed $100 today and more to come.
If I can't volunteer my time, the least that I can do is contribute $.
Thanks a lot.
If I can't volunteer my time, the least that I can do is contribute $.
Thanks a lot.
more...
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GotGC??
01-04 02:19 PM
One of the most balanced views on this topic I have heard!
I think life inside home is better in India than US. And life outside home is better in US than India. What do you think?
I am only son to my parents (aged 50s). I must go back whenever India sends a man or women to Moon. Just kidding.. Will go back by 201X.
Currently I am in India on a vacation of 45 days. I came to India with lot of enthu after a long gap of 2 years. But as someone said, India cannot be compared with US, outside home. And yea, USA can't be compared to India, inside home :D
I have to postpone the idea of returning for few more years for the following reasons, and yes, I want GC meanwhile.
_ Reasons to stay and stay longer in USA _
1) It's money, honey :D
2) A nice Indenpendant House in Vizag or Hyd. I am long way to get there. You know what I mean.
3) I haven't earned enough to copy & paste my lifestyle in US yet. I mean no car for my dad, no plasma tv in India, no 'retirement' fund for my parents so that they can live on their own. You know the rest.
4) My wife has just _resumed her career on H1B after being seated at home for 3 years on H4. As you can guess, we left hopes on EAD. My PD Nov 05. I would prefer that she work in USA for couple of years, before which we can return.
4) Last, but not least, I want to gather more "onsite" experience and go from programmer analyst to something I want to be, when I return to India.
_ Reasons to go back to India _
I belived in the philosiphy of helping yourself first, then family and then society.
0) Will come back to India to live with my aging parents.
1) Help my society (vote, pay taxes, charity, transfer of ideas from Western World, creation of employment and much more)
2) Enjoy food, movies, language, various cultures of India.
3) Travel world and not just USA - through my IT career.
I think life inside home is better in India than US. And life outside home is better in US than India. What do you think?
I am only son to my parents (aged 50s). I must go back whenever India sends a man or women to Moon. Just kidding.. Will go back by 201X.
Currently I am in India on a vacation of 45 days. I came to India with lot of enthu after a long gap of 2 years. But as someone said, India cannot be compared with US, outside home. And yea, USA can't be compared to India, inside home :D
I have to postpone the idea of returning for few more years for the following reasons, and yes, I want GC meanwhile.
_ Reasons to stay and stay longer in USA _
1) It's money, honey :D
2) A nice Indenpendant House in Vizag or Hyd. I am long way to get there. You know what I mean.
3) I haven't earned enough to copy & paste my lifestyle in US yet. I mean no car for my dad, no plasma tv in India, no 'retirement' fund for my parents so that they can live on their own. You know the rest.
4) My wife has just _resumed her career on H1B after being seated at home for 3 years on H4. As you can guess, we left hopes on EAD. My PD Nov 05. I would prefer that she work in USA for couple of years, before which we can return.
4) Last, but not least, I want to gather more "onsite" experience and go from programmer analyst to something I want to be, when I return to India.
_ Reasons to go back to India _
I belived in the philosiphy of helping yourself first, then family and then society.
0) Will come back to India to live with my aging parents.
1) Help my society (vote, pay taxes, charity, transfer of ideas from Western World, creation of employment and much more)
2) Enjoy food, movies, language, various cultures of India.
3) Travel world and not just USA - through my IT career.
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Jimi_Hendrix
08-10 06:01 PM
When can we expect these Op-eds to be published? Will you be posting some kind of update here to let us know?
more...
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chanduv23
09-16 12:04 PM
Thank you Nagireddi and Nagaraj for those quick shots. It is definitely a good start. Folks, this is a long round, so please step up and fire your shots. While we are still waiting for the Guest lady/gentleman from the West Coast, please take your shots; everyone is welcome.
I will be stepping out for sometime so please be kind enough to bump this thread if it goes off screen.
Trying to bring legislative changes in the most powerful country in the world through grassroots movements is not an easy task and we are moving mountains here.
We appreciate each and every single contribution.
THANKS FOR ALL YOUR SUPPORT AND HELP - YOUR BIGGEST HELP AND SUPPORT IS TO MAKE THIS RALLY A SUCCESS
I will be stepping out for sometime so please be kind enough to bump this thread if it goes off screen.
Trying to bring legislative changes in the most powerful country in the world through grassroots movements is not an easy task and we are moving mountains here.
We appreciate each and every single contribution.
THANKS FOR ALL YOUR SUPPORT AND HELP - YOUR BIGGEST HELP AND SUPPORT IS TO MAKE THIS RALLY A SUCCESS
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needhelp!
04-12 11:15 AM
Is there any advantage with starting an LLC if you are the only person working for the company or simply filling out 1040 Schedule C is the better option in that case?
Sole proprietors are unincorporated businesses. They are also called independent contractors, consultants, or freelancers. There are no forms you need to fill out to start this type of business. The only thing you need to do is report your business income and expenses on your Form 1040 Schedule C. This is the easiest form of business to set up, and the easiest to dissolve. (An LLC with only a single shareholder, a so-called single-member LLC, is taxed as a sole proprietor on a Schedule C.)
Sole proprietors are unincorporated businesses. They are also called independent contractors, consultants, or freelancers. There are no forms you need to fill out to start this type of business. The only thing you need to do is report your business income and expenses on your Form 1040 Schedule C. This is the easiest form of business to set up, and the easiest to dissolve. (An LLC with only a single shareholder, a so-called single-member LLC, is taxed as a sole proprietor on a Schedule C.)
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skd
04-13 10:50 PM
Please Let me know
ItIsNotFunny
03-11 01:34 PM
My application was finally approved yesterday after almost 7 years in queue. Here is the sequence of events right before the approval.
RFE email on 02/13/09
2nd Biometrics Notice received on 02/17/09
Lawyer receives RFE for EVL, EAD cards and Marriage Certificate on 02/24/09
Completed Code 3 Biometrics on 02/26/09
Soft LUD immediately after Biometrics on 02/26/09
USCIS receives RFE reply on 02/27/09, Hard LUD and email on the same day
Another soft LUD on 03/02/09
CPO email on 03/10/09
Welcome email on 03/10/09
My PD has been current for a long time, but my application had not been touched and then suddenly USCIS became a model of efficiency. I am sure they are opening applications and approving or RFE'ing all they can. Hang in there guys.
Congratulations! Hope you have stressless life ahead.
RFE email on 02/13/09
2nd Biometrics Notice received on 02/17/09
Lawyer receives RFE for EVL, EAD cards and Marriage Certificate on 02/24/09
Completed Code 3 Biometrics on 02/26/09
Soft LUD immediately after Biometrics on 02/26/09
USCIS receives RFE reply on 02/27/09, Hard LUD and email on the same day
Another soft LUD on 03/02/09
CPO email on 03/10/09
Welcome email on 03/10/09
My PD has been current for a long time, but my application had not been touched and then suddenly USCIS became a model of efficiency. I am sure they are opening applications and approving or RFE'ing all they can. Hang in there guys.
Congratulations! Hope you have stressless life ahead.
jonty_11
07-05 12:56 PM
Send email using AILA link to 20 senators an counting...Please continue to do...this is as important as campaigning for SKILL Bill...
Lets make ppl aware of waht injustice has been thrust upon us by the impotent DOC and USCIS combo.
Lets make ppl aware of waht injustice has been thrust upon us by the impotent DOC and USCIS combo.
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