smisachu
10-31 09:50 PM
It is not a good idea to open an S-Corp. If you want an incorporation a C- Corp is a better Idea. An S-Corp is basically for citizens and has a lot of legal implications. A C-Corp is much more flexible. The best is an LLC. You get tax benifits and your liabiality is limited with an LLC. But if you intend to hire other people a C-Corp is your choice.
Why did you choose an S-Corp over an C- Corp? Any particular reason?
1) And 2)- NO
3) Keeping the company on Zero revenue is going to cost you. You have to pay yearly taxes. For e.g, in NJ you will end up paying $750 for state taxes and another approximately $140 in annual reports etc for a company with no revenue.
It might be a better idea to cut your losses and open an LLC.
I started an C-Corp 2 years ago. What ever the company earns remains in the company, I am not an employee. This is so I don't invalidate my H1. I can now work for my company though, since I have my EAD.
Hope this helps, but consult a CPA or Attorney.
I know there are other threads discussing creating a company and all. But I have a very specific question.
I believe there has been various interpreation regarding who can and can not open a S Corp company and what is considered as a legal resident?
I have been in this country and paying tax each year for past 7 years. My wife has been in this country and paying tax each year for over 5 years now. I am the principal applicant of I-485, and my wife and I, we both are on H1B and we both have received our EADs. However, I have opened a S Corp company just on my wife's name. If I start any business I plan to do it only through my wife and have her utilize her EAD and probably she may maintain her job with her H1B employer as long as possible. I plan to maintain my H1B with my employer and not use EAD as long as possible.
I have the following questions -
1) Are we considered legal resident for opening a S Corp or not?
2) Can my wife now operate a S Corp using her EAD?
3) If opening an S Corp was a bad idea, is it ok to not do any business with this company and just keep the company on records with zero revenue? Or will create any issues during I 485?
4) Has anybody operated a S Corp on EAD while 485 is pending and had any issues?
Why did you choose an S-Corp over an C- Corp? Any particular reason?
1) And 2)- NO
3) Keeping the company on Zero revenue is going to cost you. You have to pay yearly taxes. For e.g, in NJ you will end up paying $750 for state taxes and another approximately $140 in annual reports etc for a company with no revenue.
It might be a better idea to cut your losses and open an LLC.
I started an C-Corp 2 years ago. What ever the company earns remains in the company, I am not an employee. This is so I don't invalidate my H1. I can now work for my company though, since I have my EAD.
Hope this helps, but consult a CPA or Attorney.
I know there are other threads discussing creating a company and all. But I have a very specific question.
I believe there has been various interpreation regarding who can and can not open a S Corp company and what is considered as a legal resident?
I have been in this country and paying tax each year for past 7 years. My wife has been in this country and paying tax each year for over 5 years now. I am the principal applicant of I-485, and my wife and I, we both are on H1B and we both have received our EADs. However, I have opened a S Corp company just on my wife's name. If I start any business I plan to do it only through my wife and have her utilize her EAD and probably she may maintain her job with her H1B employer as long as possible. I plan to maintain my H1B with my employer and not use EAD as long as possible.
I have the following questions -
1) Are we considered legal resident for opening a S Corp or not?
2) Can my wife now operate a S Corp using her EAD?
3) If opening an S Corp was a bad idea, is it ok to not do any business with this company and just keep the company on records with zero revenue? Or will create any issues during I 485?
4) Has anybody operated a S Corp on EAD while 485 is pending and had any issues?
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USDream2Dust
09-30 01:53 PM
Folks, I am in a very ackward situation.
Little bit about me.
July 2007 filer with EAD and AP and H1 current with the same employer who filed for EB2 GC. Direct hire and not consulting.
My job is in danger for most of the year. But since my company is moving all it's customers from our current site to a new 3rd party product, they needed me to maintain existing site.
My salary lets say 100k for 2009 year after 10% paycut and lots of layoffs in team.
Till today, I am earning exactly above salary and have about 78k earned.
Now my company needs me to work for 2 extra months for 60% of 100k salary, before they free me up in december. I am thinking it is fair,since I work from home and I haven't worked anything all this year due to economic slow down and just maintenance work.
They also would give me 3 months severance of full pay (and not 60%) after December.
I currently have an RFE on my 485 for medicals and would be replying for it.
2 options I have is.
1. fight back with employer to pay me 100% for 2 more months and I would burn bridges with them. Even though they may pay that now since they need me, they would take severance out and good reference.
2. Accept the salary cut for 2 more months and be happy for finding new job during those 2 months. Also my benefits would remain and have not to worry.
Do you guys see any disadvantages of 2nd option from immigration and career point of view? also I think 2nd option is safe incase I get another RFE for EVL and I have my current GC job with them.
Am I missing something?
Thanks for your feedback. Desperate times calls for desperate measures.
USDream2Dust
Little bit about me.
July 2007 filer with EAD and AP and H1 current with the same employer who filed for EB2 GC. Direct hire and not consulting.
My job is in danger for most of the year. But since my company is moving all it's customers from our current site to a new 3rd party product, they needed me to maintain existing site.
My salary lets say 100k for 2009 year after 10% paycut and lots of layoffs in team.
Till today, I am earning exactly above salary and have about 78k earned.
Now my company needs me to work for 2 extra months for 60% of 100k salary, before they free me up in december. I am thinking it is fair,since I work from home and I haven't worked anything all this year due to economic slow down and just maintenance work.
They also would give me 3 months severance of full pay (and not 60%) after December.
I currently have an RFE on my 485 for medicals and would be replying for it.
2 options I have is.
1. fight back with employer to pay me 100% for 2 more months and I would burn bridges with them. Even though they may pay that now since they need me, they would take severance out and good reference.
2. Accept the salary cut for 2 more months and be happy for finding new job during those 2 months. Also my benefits would remain and have not to worry.
Do you guys see any disadvantages of 2nd option from immigration and career point of view? also I think 2nd option is safe incase I get another RFE for EVL and I have my current GC job with them.
Am I missing something?
Thanks for your feedback. Desperate times calls for desperate measures.
USDream2Dust
geniousatwork
08-13 02:48 PM
CONGRATULATIONS!!!
Hope to see many more approvals and happy smiles...
Hope to see many more approvals and happy smiles...
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rockstart
06-22 02:18 PM
I was just wondering all of us who have received RFE. We get a golden letter which has officer number written on it. So for such cases they are preadjudicated as well as assigned to IO? Its so confusing with these dates moving one step forward and two steps backwards.
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HRPRO
02-14 04:23 PM
Nothing to Pardon here. You are still very very decent in your language compared to what I think about my employer(but here I will say he is an evil :) ). This happens to all of us. Every quarter they change the policy and none of it increases the amount in your pay cheque. My employer gives me BS about insurance increase saying, company had not earned much in last year and insurance company suffered a lot due to couple of employees had kids... well yeah, so did you give me a bonus when company was doing good and you guys were enjoying, then why now ? You talk about salary increase and they say you can leave the company, at the stage when you have your 140 approved and you are in your 5th / 6th year.
Mine is another desi employer based in Texas and they have policies that I object. I dont care whether they win or loose.
Prince,
I agree with you but not completely. I am still waiting for my approval and used to work for a Desi Firm too. Are we being treated poorly? Absolutely, we are, I couldnt agree more. I now work for a Non Desi employers. The treatment I get is almost similar.Our expectations from the Desi Employers are more as we look to them to relate with us better, which is why we complain about them more.
Moreover why blame them when we dont have to be employed by them. if we dont like it, we can definitely go elsewhere, no one is stopping us. Atleast they are the only ones who are ready to even support us. They may not have policies and procedures like the Fortune 500 but are the Fortune 500 willing to employ us, atleast not all of us. We do need this instrument (desi employers) to get ashore, if not all of us at least some of us.
So lets not be too harsh on them.
Mine is another desi employer based in Texas and they have policies that I object. I dont care whether they win or loose.
Prince,
I agree with you but not completely. I am still waiting for my approval and used to work for a Desi Firm too. Are we being treated poorly? Absolutely, we are, I couldnt agree more. I now work for a Non Desi employers. The treatment I get is almost similar.Our expectations from the Desi Employers are more as we look to them to relate with us better, which is why we complain about them more.
Moreover why blame them when we dont have to be employed by them. if we dont like it, we can definitely go elsewhere, no one is stopping us. Atleast they are the only ones who are ready to even support us. They may not have policies and procedures like the Fortune 500 but are the Fortune 500 willing to employ us, atleast not all of us. We do need this instrument (desi employers) to get ashore, if not all of us at least some of us.
So lets not be too harsh on them.
pd_recapturing
09-12 08:05 PM
Yes, thats exactly what happened .. my lawyer insisted me to go with eb2 140 while applying 485 but I asked him to use the approved eb3 140 .. that was the blunder i did .. Actually, I dint want to take the risk as I thot, if eb2 dont get approved due to somereason, I will be in soup ..
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reddy2cool
06-19 01:58 PM
I dont think it matters as long as you are continously paid and working for the same employer and maintaining h1status ie extending when its due it does mean you are NOT utilizing ur ead,instead if you change jobs without applying h1 but with your ead then it means you are on ead
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franklin
07-10 11:17 AM
How is this different from contributing for IV directly?
$10 per month is a lot more managable for some people than the IV suggested donations of $100 or $200. IV have has stated in the past that it is a lot of overhead for them to collect smaller donations, so this would seem like an excellent way for those who can't afford 1 time bigger donations to spread the load.
IF the pledge reaches it's limit, that is $120,000 pledged for a year.
$10 per month is a lot more managable for some people than the IV suggested donations of $100 or $200. IV have has stated in the past that it is a lot of overhead for them to collect smaller donations, so this would seem like an excellent way for those who can't afford 1 time bigger donations to spread the load.
IF the pledge reaches it's limit, that is $120,000 pledged for a year.
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bugsbunny
04-13 08:52 PM
Yes BugsBunny, I did had a question regarding The employer-employee relationship during my interview . I do report to my Supervisor regularly, infact we do have a regular updates on my as well as his side. The Consulate officer did ask me that.
I also presented a document from my supervisor that clearly mentions that I work with him.
in that case your denial/suspension reason might be different...you will only know it when USCIS gets back to your attorney
I also presented a document from my supervisor that clearly mentions that I work with him.
in that case your denial/suspension reason might be different...you will only know it when USCIS gets back to your attorney
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Vexir
05-17 07:07 PM
I feel so horny... She turns me on baby... :beer:
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cps060
03-28 11:14 AM
I am still looking for someone to let me know what are the costs involved with the H1-B extension filing. Thanks in advance for your advice.
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amitjoey
01-28 12:34 PM
I know this would be unpopular on this forum. But if you think about it, temporary visa holders can just disappear relatively easily by packing their bags if they wish to do so. I know someone who has done this with their underwater house, though with his salary he could afford paying the mortgage.
There is morality issue and very very few of us would consider doing something like that. But some of us have done this, and seems like a reasonable thing for banks to consider. In the end better lending standards keeps the banking system and the economy in better shape.
Permanent residents -greencard holders are not citizens and can also disappear relatively easily. Yes it is a moral issue.
There is morality issue and very very few of us would consider doing something like that. But some of us have done this, and seems like a reasonable thing for banks to consider. In the end better lending standards keeps the banking system and the economy in better shape.
Permanent residents -greencard holders are not citizens and can also disappear relatively easily. Yes it is a moral issue.
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mbartosik
11-20 12:07 AM
more ideas please :)
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gk_2000
05-04 06:54 PM
I have applied for my driver license extension on March first week using my EAD card and still waiting for the drivers license. So, I called the DMV to check my status and they informed that the legal presence verification department is still working on it and asked me to call their office. I called that office and updated them that I have been waiting for almost 8 weeks and want to find out the status.The customer service person was nice and told me that it will take longer for the DHS to verify it and asked me to fax my EAD card to her so that she can try expediting. No information about extension of temporary license as well. Any body in this situation? what you have done to expedite and get the license.? Thank you for your feed backs and information.
I have almost ditto situation, minus EAD. I plan on calling them again and try to bug them into submission :)
I have almost ditto situation, minus EAD. I plan on calling them again and try to bug them into submission :)
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DSLStart
05-23 11:50 AM
At some POEs though for e.g. IAD some CBP officers do interogate AP holders on the ground of proving the emergency of travel. I had bad experience in 2008.
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reedandbamboo
08-10 08:07 AM
My I-485 was filed along with the EAD application on July 17th (without AP). In the event that I use the EAD (I am currently on the 4th year of H1B), and then I decide to travel out of the country, approximately how long would it take for AP approval ?
Thanks!
Thanks!
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WeldonSprings
07-08 06:18 PM
Also, I am trying to see if there is an opportunity here to add the Menendez bill as an amendment to the Senate bill and the Honda bill as an amendment to the House bill on Family and Employment Visa recpture.
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pappu
02-16 11:42 AM
--We have heard the news that "Power Lunch" today on CNBC at about 1:20 PM EST will discuss the need for skilled workers in America.
Could someone pls tune in to CNBC and let the forum know.
Could someone pls tune in to CNBC and let the forum know.
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fide_champ
02-23 08:23 AM
I have a question on H1b and h4 decoupling.
Say I am on h1b and wife is also on h1b. I am in my 7th year extension with a 140 approved.
I get Layed off.
Can I change to h4 and look for jobs (say it takes 3 months) and get a 3 year h1b extension based on approved i 140 and then get back into the h1b? Will I be subjected to the quota?
The memo says, those already in h1b status who have maintained legal status can use their h1b time that is left and can also get a h1b extension based on a approved 140.
Is such a thing possible?
Any comments.
If your I-140 is not revoked by your company, you can get a 3 year extension.
Say I am on h1b and wife is also on h1b. I am in my 7th year extension with a 140 approved.
I get Layed off.
Can I change to h4 and look for jobs (say it takes 3 months) and get a 3 year h1b extension based on approved i 140 and then get back into the h1b? Will I be subjected to the quota?
The memo says, those already in h1b status who have maintained legal status can use their h1b time that is left and can also get a h1b extension based on a approved 140.
Is such a thing possible?
Any comments.
If your I-140 is not revoked by your company, you can get a 3 year extension.
laborchic
09-19 02:33 PM
Sounds like a good plan...
By the way do we have a Tristate Chapter or NY-NJ Chapter?? Do we have a yahoo group ??
By the way do we have a Tristate Chapter or NY-NJ Chapter?? Do we have a yahoo group ??
GC08
02-16 07:19 PM
Hopefully there will be more program like this to tell American the truth about EB immigration. We are the true minority in America here. Everyone takes advantage of us without giving us proper benefits. :rolleyes:
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