Starting a co while 485 pending

[vg0405]

Hi Guys:

I remember seeing a post about this sometime earlier.
My 485 is still pending and I am thinking of starting a consulting firm.
What are the possible ways I could go about. If someone could give me some guidance, it would be a big help.

Thanks.

 

[niladri30]

Incorporate a company. Either in your state or as a Delaware corporation. Can be only subcapter C corp. See http://www.incorporate.com/. Your local city hall or chamber of commerce can also help... in fact are invaluable for finding out local regulatory requirements if any.

You can be a director in the company. While I-485 is pending, do not be employed by and earn wages from this company except when both the following are true:
1. you are doing it on EAD
2. this is your second job

ON EAD you can be employed by this company (the co will issue you a W2), or contract for it (the co will issue you Form 1099). Also study Employers' Handbook http://www.bcis.gov/graphics/lawsregs/handbook/hand_emp.pdf before employing yourself on EAD.

Your company and you are diffrent entities for tax, accounting and legal identity purposes. Maintain that distinction at all times and in all documentation.

Consult a CPA.

 

[eventually]

Thanks niladri .. that should be helpful ..