RichardFranco
Registered Users (C)
I am currently working full time for my employer on a H-1B visa and my wife is on a H4. She is not working.
Besides my main occupation, we have been working on setting up a business of our own. I formed a DE LLC not too long ago and listed my wife as a first member of the LLC (100% owner).
I also applied on-line for a Tax ID for the LLC and put down my wife once more on the application (SS-4 form) as a principal owner using her Tax Payer Identification Number.
As it stands, we have put no capital in the LLC and we have not opened any bank account(s) yet, nor did we do business with the LLC yet.
Questions:
1) Does the fact that my wife was listed on the SS-4 form have any consequence and if yes which ones?
*** EDIT: While non-US citizens and non-Alien Permanent Residents can own a business/ assets/ a house etc... in the house, they can only operate a business with a work authorization. So even setting up a business should be done by a US citizen, Permanent Resident or an agent, on behalf of the foreigner (viewed as an investor here).
2) Is there a minimum we must pay the MD if we hire one?
Could he/ she voluntarly work for free in the LLC (say a friend would accept to do this)?
*** EDIT: No minimum. Free yes. Both in particular when the business is recent and trying to get off the ground. Easy to justify.
3) Can business payments be made to the LLC from clients without hiring a MD? In that case someone still has got to invoice clients and we still need a US bank account in the state of DE (where the LLC was formed) or any other state where we do business and the LLC is registered. How is either one possible without having any employee, can my CPA do this besides the accounting books?
*** EDIT: I haven't found a clear answer to this one yet. Anyone?
4) I saw EAD-related questions often. I wonder if in my case my wife and/ or me can apply for an EAD (my LC application is stil pending)? Or is it only possible when applying to adjust to permanent residence status (post I-140 and I-485)?
*** EDIT: I found the answer to this. The EAD is post-I-140 & I-485 and while waiting for the actual Permanent Resident Card to arrive.
5) I would like to request referals for CPAs who are very familiar with H-1B visa holders business and taxes issues.
My current CPA is ok and isn't up-to-date in regards with the questions I posted in here.
Please refer your CPA to me if your situation is similar to mine.
*** EDIT: Please PM referrals.
Best to you all.
Besides my main occupation, we have been working on setting up a business of our own. I formed a DE LLC not too long ago and listed my wife as a first member of the LLC (100% owner).
I also applied on-line for a Tax ID for the LLC and put down my wife once more on the application (SS-4 form) as a principal owner using her Tax Payer Identification Number.
As it stands, we have put no capital in the LLC and we have not opened any bank account(s) yet, nor did we do business with the LLC yet.
Questions:
1) Does the fact that my wife was listed on the SS-4 form have any consequence and if yes which ones?
*** EDIT: While non-US citizens and non-Alien Permanent Residents can own a business/ assets/ a house etc... in the house, they can only operate a business with a work authorization. So even setting up a business should be done by a US citizen, Permanent Resident or an agent, on behalf of the foreigner (viewed as an investor here).
2) Is there a minimum we must pay the MD if we hire one?
Could he/ she voluntarly work for free in the LLC (say a friend would accept to do this)?
*** EDIT: No minimum. Free yes. Both in particular when the business is recent and trying to get off the ground. Easy to justify.
3) Can business payments be made to the LLC from clients without hiring a MD? In that case someone still has got to invoice clients and we still need a US bank account in the state of DE (where the LLC was formed) or any other state where we do business and the LLC is registered. How is either one possible without having any employee, can my CPA do this besides the accounting books?
*** EDIT: I haven't found a clear answer to this one yet. Anyone?
4) I saw EAD-related questions often. I wonder if in my case my wife and/ or me can apply for an EAD (my LC application is stil pending)? Or is it only possible when applying to adjust to permanent residence status (post I-140 and I-485)?
*** EDIT: I found the answer to this. The EAD is post-I-140 & I-485 and while waiting for the actual Permanent Resident Card to arrive.
5) I would like to request referals for CPAs who are very familiar with H-1B visa holders business and taxes issues.
My current CPA is ok and isn't up-to-date in regards with the questions I posted in here.
Please refer your CPA to me if your situation is similar to mine.
*** EDIT: Please PM referrals.
Best to you all.
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