New Business Question

I

IWannaBreakFree

Registered Users (C)
I am on an H1 and I plan to start a small business on the side. I plan to open a small ethnic grocery store, since there are none in town and I will run the store after work and on weekends.

Here are my questions;
1) Can I start such a business on an H1B?
2) This is probably off topic, but how do I register the business and what do I regsiter it as (C-corp, etc.)?
3) What about paying my taxes and stuff. What sort of information will I need to provide to pay taxes, I mean business receipts, bills, etc. ? In short, what do I have to provide to pay my taxes?

I want to do this in a totally legal way. I have never started a business before neither do I know anyone who has, so any useul info on how and what to do will be greatly appreciated.

Thankx in advance.
 
other option

So I can register the company using my name and SS number, and I can hire an american probably to run the store by paying a wage to that employee.. is this correct?

I can do this right?
 
Thats pretty much it ...

Get hold of an American citizen or a GC holder you can trust and you be the major shareholder and invest your money and hope for the best. Being on a H1 has lots of disadvantages in this matter, hence be very cautious. Its very much like buying some stocks of a company and hope the company officers do their job and get you handsome dividends. But like other businesses that are susceptible to malpractices, outright cheating, etc. there are lots of risk in this. Being a low-risk person, I would rather invest it in real-estate or good stocks like Intel or Cisco, than venturing into something on my own grocery store with the money I get on H1.

Hey, but thats me.

I wish you all the best in your bold initiatives
 
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