chi_shark
09-09 03:45 PM
This issue must have been beaten to death already... I do not think that you have to be a permanent resident or Citizen in USCIS terms for doing S-Corp. The requirement is stated in a negative fashion in the code. I mean that the code lists what cannot be instead of what should be. And I think it means that a s-corp shareholder cannot be a non-resident alien. Thats it. I am on EAD and I have an S-Corp (i dont do IT with that company). I have a full time IT job and run the company part time...
I would have liked to do LLC except that it is more expensive to set it up compared to corp. there are record keeping requirements on corp... but if you are a good CEO, you will keep records for any company... no matter what legal style of organization.
The only operational benefit of S-corp or llc is the pass through taxation... i.e. income is taxed only once... c-corp has to be taxed on profits... on the flip side, however, you may potentially have a company that does very little business in the first year and hence very little profits or taxes... you could give yourself a handsome (but reasonable) salary and hence declare loss or zero profits... there are ways..
finally, I recommend spending the extra time, money, effort to read a few books (like "Inc yourself") and subscribe to inc magazine, entrepreneur magazine to do all legal and accounting stuff yourself in the first 1 2 years... you will learn a lot! on the other hand if you are starting with large capital base, then you can probably hire everyone right off the bat! (you probably would not have come here if you had plenty of money to hire everyone)
Please don't give incorrect answers.
All three corporation types (C-Corp, S-Corp, and LLC) have limited liability to its shareholders.
The main difference in these corp types are
1. How much record keeping is done
2. The way taxes are computed and filed with IRS
3. The kind of expenses allowed to deduct
4. C-Corp and LLC can carryover profits to next year(s), but S-Corp has to pass on profit (or loss) to the shareholders at the end of every calendar year.
For S-Corp, the shareholders must be Permanent Resident or US Citizen.
I have corporation of my own and this is C-Corp (due to kind of expenses I can deduct and/or write-off). I did all the incorporation work myself without any help from CPA. Incorporation is pretty straight forward and very easy. There are good books in Nolo Press on Corporate Incorporation.
____________________________________
Proud Indian American and Legal Immigrant
I would have liked to do LLC except that it is more expensive to set it up compared to corp. there are record keeping requirements on corp... but if you are a good CEO, you will keep records for any company... no matter what legal style of organization.
The only operational benefit of S-corp or llc is the pass through taxation... i.e. income is taxed only once... c-corp has to be taxed on profits... on the flip side, however, you may potentially have a company that does very little business in the first year and hence very little profits or taxes... you could give yourself a handsome (but reasonable) salary and hence declare loss or zero profits... there are ways..
finally, I recommend spending the extra time, money, effort to read a few books (like "Inc yourself") and subscribe to inc magazine, entrepreneur magazine to do all legal and accounting stuff yourself in the first 1 2 years... you will learn a lot! on the other hand if you are starting with large capital base, then you can probably hire everyone right off the bat! (you probably would not have come here if you had plenty of money to hire everyone)
Please don't give incorrect answers.
All three corporation types (C-Corp, S-Corp, and LLC) have limited liability to its shareholders.
The main difference in these corp types are
1. How much record keeping is done
2. The way taxes are computed and filed with IRS
3. The kind of expenses allowed to deduct
4. C-Corp and LLC can carryover profits to next year(s), but S-Corp has to pass on profit (or loss) to the shareholders at the end of every calendar year.
For S-Corp, the shareholders must be Permanent Resident or US Citizen.
I have corporation of my own and this is C-Corp (due to kind of expenses I can deduct and/or write-off). I did all the incorporation work myself without any help from CPA. Incorporation is pretty straight forward and very easy. There are good books in Nolo Press on Corporate Incorporation.
____________________________________
Proud Indian American and Legal Immigrant
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senthil
06-12 05:33 AM
just the H1B filing receipt ( which is expected in few days of filin ) should be enough to be named "active" on H1B and no worry after that except finding an active project to work on.
pitha
08-04 05:07 PM
I too dont have an A# on my my I-140 approval. Does the I140 receipt notice have an A# on it. I dont have the receipt for the i140.
I have the notice of action for my I-140 approval. It doesn't mention an A# anywhere. Are you sure about this?
I have the notice of action for my I-140 approval. It doesn't mention an A# anywhere. Are you sure about this?
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letstalklc
08-27 05:01 PM
Yes,
You are right...There is one case PD of Jan 2008 has been approved....No proper system exist at DOL....it's all fate......thats all I can say....
You are right...There is one case PD of Jan 2008 has been approved....No proper system exist at DOL....it's all fate......thats all I can say....
more...
sai
06-16 01:48 PM
Last 3 months statement should be more than enough. I printed online statement attested and sent it. I had no problem.
ns33
03-18 04:22 PM
Answers below:
1. Technically there is no Salary restriction. As stated above it is a grey area. But, if the job duties are the same and the salary difference is too big (no one knows how much is acceptable without raising questions), then it brings into question if you are still performing the same duties. But basically, you have to make equal to or more than the LC.
2. I have used AC21 before. Have not done EAD renewal yet.
Have a question about point1. Most of larger corp employees who have been in the wait cycle 6-8 years, entered in this coprs at rather lower salaries compared to current day standards. Once inside, pending GC process, you do not get too much of raise or adjustments (2-5% - more of inflation adjustments every 1.5-2 years or so).
Going out of these positions, within similar technical positions, even at lower - rather conservative end of the current pay scale (on AC21-EAD) it is very easy to reach bracket closer to 40-50% higher. Converting to full time consultants, even in tighter market due to current economy; would actually mean closer to 60-70% difference. How do we handle this? Staying within large corp on FT basis does not make sense financially after all these years. Espcially when EB3 category PD doesn't show any sign of life.
If you have a good suggestion/solution please PM me.
Thanks
NS
PS. this entire rant is about people who have been in the same FT position without promotions and very minimal pay adjustments in large corporations - probably outside west cost. So please keep any and all flaming at my post in the context.
1. Technically there is no Salary restriction. As stated above it is a grey area. But, if the job duties are the same and the salary difference is too big (no one knows how much is acceptable without raising questions), then it brings into question if you are still performing the same duties. But basically, you have to make equal to or more than the LC.
2. I have used AC21 before. Have not done EAD renewal yet.
Have a question about point1. Most of larger corp employees who have been in the wait cycle 6-8 years, entered in this coprs at rather lower salaries compared to current day standards. Once inside, pending GC process, you do not get too much of raise or adjustments (2-5% - more of inflation adjustments every 1.5-2 years or so).
Going out of these positions, within similar technical positions, even at lower - rather conservative end of the current pay scale (on AC21-EAD) it is very easy to reach bracket closer to 40-50% higher. Converting to full time consultants, even in tighter market due to current economy; would actually mean closer to 60-70% difference. How do we handle this? Staying within large corp on FT basis does not make sense financially after all these years. Espcially when EB3 category PD doesn't show any sign of life.
If you have a good suggestion/solution please PM me.
Thanks
NS
PS. this entire rant is about people who have been in the same FT position without promotions and very minimal pay adjustments in large corporations - probably outside west cost. So please keep any and all flaming at my post in the context.
more...
Tshelar
01-02 02:11 PM
The consulate usually do need more info if you work for Pharmaceucatical or Biotech company. I work for a Pharmaecutical company and when I had gone for my Visa interview they were very specific to ask me if my work deals in any kind of research in chemicals etc. Since I work in the IT department and has nothing to do with reasearch they did not ask for any more info.
I think your wife should be fine if she furnishes the info that they need.
I think your wife should be fine if she furnishes the info that they need.
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gcformeornot
01-09 04:20 PM
Its like going to tirupati and asking people if they have seen any mottai's [mottai - tamil, meaning shaved head].
:D
On another note, practically everybody over here has seen/heard somebody losing their jobs...
talking about only personal friends or co-workers. Please do not vote yes if its some body you don't know but heard of.
:D
On another note, practically everybody over here has seen/heard somebody losing their jobs...
talking about only personal friends or co-workers. Please do not vote yes if its some body you don't know but heard of.
more...
number30
04-12 12:10 AM
Hi guys,
I am a new bie but in deep trouble,
My case is like this
Have valid I-797 - till - Jan 16,2009 ( now expired right )
Valid I-94 - till -Jan 24 , 2009 ( now expired right )
Applied for extension in --- Sept 2008( 5months before I-94 expiry date)
Applied for premium in -- Feb 26, 2009
RFE -- Mar 2, 2009
Denied -- Mar 31,2009
Trying to transfer my H1- to another product company under premium.
I heard if you appeal the denial, you cant file the transfer, so i dont want to appeal,
Please correct me if this is incorrect ???? gurus please help me,
As I know I dont have any status but denial letter says appeal with in 33 days.
Consulted PRODUCT COMPANY ATTERNEY , said you can stay up till 30 days.
Is it possible to transfer with out appeal or MTR for the current denial ?
Please advice, as I am already running out of time....
thanks
jvs
There is bigger problem than H1 approval i.e. overstaying. If overstay more then six months you will barred for 3 years. So go out as soon as possible and come back with another H1
I am a new bie but in deep trouble,
My case is like this
Have valid I-797 - till - Jan 16,2009 ( now expired right )
Valid I-94 - till -Jan 24 , 2009 ( now expired right )
Applied for extension in --- Sept 2008( 5months before I-94 expiry date)
Applied for premium in -- Feb 26, 2009
RFE -- Mar 2, 2009
Denied -- Mar 31,2009
Trying to transfer my H1- to another product company under premium.
I heard if you appeal the denial, you cant file the transfer, so i dont want to appeal,
Please correct me if this is incorrect ???? gurus please help me,
As I know I dont have any status but denial letter says appeal with in 33 days.
Consulted PRODUCT COMPANY ATTERNEY , said you can stay up till 30 days.
Is it possible to transfer with out appeal or MTR for the current denial ?
Please advice, as I am already running out of time....
thanks
jvs
There is bigger problem than H1 approval i.e. overstaying. If overstay more then six months you will barred for 3 years. So go out as soon as possible and come back with another H1
hair Moretz Bob,Keri Hilson
sabr
09-19 05:39 PM
meaning I can work for company B now and even though my h1b renewal approves with company A? then when I feel like I can go out and reenter before the h1b renewal period ends?
more...
dummgelauft
04-13 12:40 PM
You are talking about needs? Then US needs all EB's over illegals by much, much more than US needs EB1 over EBn (n>1). So let's not talk of who contributes and who does not. It doesn't matter, all have same raw deal
If there was the slightest doubt that you are technically qualified person, you removed it 100% by by giving that equation Ebn(n>1) LOL!!
If there was the slightest doubt that you are technically qualified person, you removed it 100% by by giving that equation Ebn(n>1) LOL!!
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Sri_
02-29 09:06 AM
How can one find his/her receipt date if they dont have copy of their receipt notice, just the receipt notice?
Take the infopass appointment. Tell them your 485 receipt number and request them for Receipt Date & Notice Date. In the initial screen, I think officer can only see Notice Date. Then request them for Receipt date, then I think they can dig the info and find the info.
Few officers are not aware and they say that there will be only one date i.e. 'Notice Date', you should tell them the difference between Notice Date & Receipt Date, then they will try to look. This happened to me, So I showed them my I-140 receipt and explained the difference. Then the officer got convinced to check for Receipt Date for 485 in the system.
Thanks
Take the infopass appointment. Tell them your 485 receipt number and request them for Receipt Date & Notice Date. In the initial screen, I think officer can only see Notice Date. Then request them for Receipt date, then I think they can dig the info and find the info.
Few officers are not aware and they say that there will be only one date i.e. 'Notice Date', you should tell them the difference between Notice Date & Receipt Date, then they will try to look. This happened to me, So I showed them my I-140 receipt and explained the difference. Then the officer got convinced to check for Receipt Date for 485 in the system.
Thanks
more...
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morchu
04-22 02:07 PM
Think twice before you jump into mistakes. How can you survive in USA if you dont have a job.
I agree with the other post, you probably might be better in India in this economy.
Also US is becoming something else, due to the pressure from "protectionalists" and you need to wait and see what happens in an year or so. This is not 1998, it is 2009.
To answer your question, you chances for 2010 H1B is extremely low.
Hi, This is my first post here and I need some guidance regarding new-H1 under FY2010 quota.
--One of my friend told me about this company in Chicago who is doing H-1s and apparently the quota is not over yet. I am in India and
--Is it advisable to get my H01 filed at this time?
--What if the USCIS asks client letters? They said, the company will take care of it if that happens -- is that even legal to say that?
--What is the probably the CAP will be met by that time they file my H-1 in the next 2 weeks? And am not sure if the attorney returns the money in that case.
Please suggest. Thanks
I agree with the other post, you probably might be better in India in this economy.
Also US is becoming something else, due to the pressure from "protectionalists" and you need to wait and see what happens in an year or so. This is not 1998, it is 2009.
To answer your question, you chances for 2010 H1B is extremely low.
Hi, This is my first post here and I need some guidance regarding new-H1 under FY2010 quota.
--One of my friend told me about this company in Chicago who is doing H-1s and apparently the quota is not over yet. I am in India and
--Is it advisable to get my H01 filed at this time?
--What if the USCIS asks client letters? They said, the company will take care of it if that happens -- is that even legal to say that?
--What is the probably the CAP will be met by that time they file my H-1 in the next 2 weeks? And am not sure if the attorney returns the money in that case.
Please suggest. Thanks
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abcdefgh
01-18 10:26 AM
Do the Primary Applicant and the Spouse both need to take this Test??
No
only the primary applicant needs to take the test
No
only the primary applicant needs to take the test
more...
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Eternal_Hope
02-08 08:56 PM
It would be helpful to everyone if all of you could also report the USD equivalent of the figures you are mentioning. Assume 1USD = Rs. 50 for simplicity. This would help the people who just skim the threads for information.
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kicca
01-29 10:07 AM
^^^
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Honda
09-08 11:40 PM
Thanks. No LUDs. Just got it in the mail straight. Try contacting your senator or congressperson.
Congrats...
Congrats...
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suriajay12
04-06 07:44 AM
Very good one.. USCIS is acknowledging here the severe wait periods. A good sign when (if) trying to fix a problem. Recognizing that there is one..
Good job in posting this article.
Good job in posting this article.
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desigun
09-10 12:58 PM
I have a full time offer from a county school (non - profit), that is related to an institution of higher education. (submitted an agreement between the school and the univ)
got an RFE, asking for 'substantiating documentary evidence that the beneficiary is enrolled in the program with the univ' ; This exemption cannot be claimed for other employees of the nonprofit in or through this jointly managed program.
Is it necessary that the beneficiary should be enrolled in agreement or a mere relationship is not sufficient???
Any suggestions....
Thanks
got an RFE, asking for 'substantiating documentary evidence that the beneficiary is enrolled in the program with the univ' ; This exemption cannot be claimed for other employees of the nonprofit in or through this jointly managed program.
Is it necessary that the beneficiary should be enrolled in agreement or a mere relationship is not sufficient???
Any suggestions....
Thanks
ameryki
02-27 09:03 PM
I resubmitted my I-485 petition sometime Nov 2008. So far no receipt, made a query with USCIS. Now I got letter from USCIS saying that they did not found my package, they want me resubmit with all the evidence and previous of copy of application.
We have been planning to go to India and get it stamped since we are in 6th year. My company is such a lowsy company (If god is there, he should punish this BLOOD SUCKING TECHNOLOGIES COMPANY HEAVILY) they will take resubmittal of 485 for another couple of months.
Should I have to wait some more time and just send family for their trip mean time? Write letter to OmBudsman....
mate have you heard of thread hijacking? anyways looks like you have a weird one...when you say "resubmitted" it seems like they have lost your application once before as well? How are they accepting 485 application for you? what category are you in and whats your pd?
We have been planning to go to India and get it stamped since we are in 6th year. My company is such a lowsy company (If god is there, he should punish this BLOOD SUCKING TECHNOLOGIES COMPANY HEAVILY) they will take resubmittal of 485 for another couple of months.
Should I have to wait some more time and just send family for their trip mean time? Write letter to OmBudsman....
mate have you heard of thread hijacking? anyways looks like you have a weird one...when you say "resubmitted" it seems like they have lost your application once before as well? How are they accepting 485 application for you? what category are you in and whats your pd?
obviously
08-04 12:08 PM
Thanks for sharing!
my attorney said When you interfile, even if ur previous PD is current, you cannot file 140+485 together.. you have to first file the 140 requesting the previous PD be ported and then once that is approved..file you 485..!!
>> I have both the I-140's now, the EB2 and the Eb3. So this is not a case of filing I-140 together with I-485. Qn is can the underlying I-485 EB3 pending adjudication be matched up with the new I-140 EB2 which has the older EB3 PD? If not, is filing a new I-485 to follow on the new EB2 I-140 the only option? Currently EB3 India is Unavailable and EB2 India PD is Jun 06. My new EB2 PD is Nov 02.
but he said....if ur PD is current you can take a chance and file both 140(requesting porting)+485 ..but then the chances of 485 being sent back are high..
>> ok, thanks.
Whew, just when you think this darn thing will be over ... :D
Cheers!
my attorney said When you interfile, even if ur previous PD is current, you cannot file 140+485 together.. you have to first file the 140 requesting the previous PD be ported and then once that is approved..file you 485..!!
>> I have both the I-140's now, the EB2 and the Eb3. So this is not a case of filing I-140 together with I-485. Qn is can the underlying I-485 EB3 pending adjudication be matched up with the new I-140 EB2 which has the older EB3 PD? If not, is filing a new I-485 to follow on the new EB2 I-140 the only option? Currently EB3 India is Unavailable and EB2 India PD is Jun 06. My new EB2 PD is Nov 02.
but he said....if ur PD is current you can take a chance and file both 140(requesting porting)+485 ..but then the chances of 485 being sent back are high..
>> ok, thanks.
Whew, just when you think this darn thing will be over ... :D
Cheers!
