Own Company after 180 days

G

gc4excellence

New Member
I have crossed the 180 day line after applying for 1485, and recently there is a layoff wave is coming in my company. If i am affected, i am planning to start a consulting company. And if i get RFE from INS are Employment letter and paystubs from my own company acceptable? Please share your thoughts on this as it is useful for many of us.

Thanks,
Munshi
 
I am not an expert but my first instinct would be to say that this is probably not possible. It would seem that the sponsoring agency should be a separate entity from the the candidate for GC sponsorship. The only situations I have heard of where a sponsor is not needed is EB1 (national interest waiver for outstanding contributions in your field) and of course asylum categories. I think the main point is that "somebody else" should require our "expert services". That is why we go thro the labor clearance etc. As always check with an attorney. What makes the situation more confusing is that the individual case officers take the liberty of interpreting the law in their own way....so who knows there might be a way....
I have a similar dilemma. I am wondering if I can do a direct w-2 with my client. I am also way past the 180 days. Although I am still employed I am tired of getting screwed with the bill rate etc.
Good luck!!!
 
Hi its Rastamandrum again,
As soon as I posted I thought of something else. What if your spouse (if you have one!!!!!) who is the dependent on the 485 app starts a company in his/her name and we as the primary applicant become an emloyee of that company?????? The key the company should be financially and legally a solid entity. For eg: an RFE might request that the company shows ability to pay your salary. It sounds crazy but it is worth exploring............:) :)
 
Here is what I know...

If you do not have a green card, you can start only C type company (C type incorporation). In that case, you cannot be an employee of (and hence cannot draw a salary from) your company. You may employ other people, though. This option is open even for people with H1 or those residing elsewhere. In this, you can only take profits from the company (after the company has paid tax) in your name and then pay personal income tax on those profits (this is kind of double taxing).

If you are a GC holder, then u can start S type corporation. IN this case, you can pay yourself a salary and also take profits (before tax) as your personal income and then pay tax on the consolidated amount (ur salary and profit u take). The only distinguishing factor here is that all your retirement investment will depend on what salary you draw.

Contact a good Accountant for more details. I am telling this from whatever I know, and I am not a certified accountant.

Do your own research and homework too.

Best of luck.

StillWaiting...
 
Last edited by a moderator:
You must log in or register to reply here.
Top