Hi:
I am planning on forming a C corp with 2 other people, who are U.S. citizens. We will be equal partners and no one else will have a stake. I am on an H1B visa. Here are my questions. I obviously will not be working for the company.
1.) Will I be eligible for fringe benefits i.e. health insurance, car allowance, dental plans etc as a shareholder.
2.) As a shareholder, can I be given profits at the end of the year.
3.) If point 1 is not possible, if there any way for me to receive any kind of benefit from the company that is no taxable.
4.) What kind of work can I put in for the company. I read about "limited" volunteer work. What does that mean? Can I offer suggestions or work for the company and not be paid a salary for that work. Is that legal?
Thanks a lot for your answers.
Ram.
I am planning on forming a C corp with 2 other people, who are U.S. citizens. We will be equal partners and no one else will have a stake. I am on an H1B visa. Here are my questions. I obviously will not be working for the company.
1.) Will I be eligible for fringe benefits i.e. health insurance, car allowance, dental plans etc as a shareholder.
2.) As a shareholder, can I be given profits at the end of the year.
3.) If point 1 is not possible, if there any way for me to receive any kind of benefit from the company that is no taxable.
4.) What kind of work can I put in for the company. I read about "limited" volunteer work. What does that mean? Can I offer suggestions or work for the company and not be paid a salary for that work. Is that legal?
Thanks a lot for your answers.
Ram.