I'm currently applying for my H1B visa and the paper work is already in the vermont center for the premium processing so I'm assuming I should get my answer soon (maybe 15 days or less from now). I'm trying to explore my options when I will be here on H1B and I found out that I can start my own company but I cannot work for it in any shape or form. That's fine. I will have my business partner whom I will start the business with and he will do all the work. I will just be the coowner. Of course, all the businesses are there to make money (unless they are charity, but this will not be that), so I would like to be the one to get a chunk of that pie, since I will be one of the owners. How can I get paid? When we (my partner and I) make a contract together, can we say that whatever company makes we split 50-50? so for example after all the costs are paid we make $10000. He gets 5000 and I get 5000. Is it legal for me? How do I report it on my tax return? Again, is this a legal kind of income for an H1B holder?
The second issue I have which is pretty much unrelated to the first one is this. I read that I can do casual selling on eBay for example on my H1B as long as it does not assume a form of a business. What is meant by casual? two, three, five items a month, qurter, year? What if I sell cars and make $1000 on each. That would be like $2000 a month of additional income, is that casual? Please let me know. Thank you so much for taking your time to read all of this.
Puzon23
The second issue I have which is pretty much unrelated to the first one is this. I read that I can do casual selling on eBay for example on my H1B as long as it does not assume a form of a business. What is meant by casual? two, three, five items a month, qurter, year? What if I sell cars and make $1000 on each. That would be like $2000 a month of additional income, is that casual? Please let me know. Thank you so much for taking your time to read all of this.
Puzon23