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  #16  
Old 03-17-2010, 12:57 PM
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chi_shark is a glorious beacon of light chi_shark is a glorious beacon of light chi_shark is a glorious beacon of light chi_shark is a glorious beacon of light chi_shark is a glorious beacon of light
Default why not s-corp now?

Quote:
Originally Posted by suave100 View Post
In response to sajidmd's comments - Its not my wife but I own the company and its a C-corporation. Once I get my Green Card, I shall then change it to S-corp.

In response to SpookyH1Alien's comments - My ex-employer ABC is more than willing to cooperate in terms of having a job offer for me. That said, I am not planning to use AC-21 for now although I understand that I technically can; since my current job with XYZ (that I own) is same or similar to my previous job with ABC.

Hi Suave, my job contract is like yours but I have an S-corp. May I know what kept you from doing S-corp before you got your green card? Tx.
__________________
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PD: Mar 2005
Cat: EB2
I-140 AD: Jan 2008
I-485 RD: July 20 2007
I-485 ND: Sept 29 2007
EAD: on second EAD
have used AC21
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  #17  
Old 03-17-2010, 02:03 PM
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anilsal has a reputation beyond repute anilsal has a reputation beyond repute anilsal has a reputation beyond repute anilsal has a reputation beyond repute anilsal has a reputation beyond repute anilsal has a reputation beyond repute anilsal has a reputation beyond repute anilsal has a reputation beyond repute anilsal has a reputation beyond repute anilsal has a reputation beyond repute anilsal has a reputation beyond repute
Default If you work for an employer

that is different from who filed your 140, are you not using AC21 by default?
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  #18  
Old 03-17-2010, 02:17 PM
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zxc1251 will become famous soon enough
Default

Quote:
Originally Posted by chi_shark View Post
Hi Suave, my job contract is like yours but I have an S-corp. May I know what kept you from doing S-corp before you got your green card? Tx.
S-Corp
Non green card holders can not form S-corp..... (pretty sure about this)

C-corp
Non green card holders can form it but can not run the business, can only hold shares... (could be wrong here)

LLC
Non green card holders can form it no problem (That is what I created for my wife on EAD, previously on H4)
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  #19  
Old 03-17-2010, 02:37 PM
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chi_shark is a glorious beacon of light chi_shark is a glorious beacon of light chi_shark is a glorious beacon of light chi_shark is a glorious beacon of light chi_shark is a glorious beacon of light
Default any source for this info?

Quote:
Originally Posted by zxc1251 View Post
S-Corp
Non green card holders can not form S-corp..... (pretty sure about this)

C-corp
Non green card holders can form it but can not run the business, can only hold shares... (could be wrong here)

LLC
Non green card holders can form it no problem (That is what I created for my wife on EAD, previously on H4)
Can you please share your source for this info. i have been told by my tax lawyer that there is no matter what your immigration status is as long as you meet the resident for US tax purposes conditions.
__________________
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PD: Mar 2005
Cat: EB2
I-140 AD: Jan 2008
I-485 RD: July 20 2007
I-485 ND: Sept 29 2007
EAD: on second EAD
have used AC21
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  #20  
Old 03-19-2010, 04:58 PM
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zxc1251 will become famous soon enough
Default

Quote:
Originally Posted by chi_shark View Post
Can you please share your source for this info. i have been told by my tax lawyer that there is no matter what your immigration status is as long as you meet the resident for US tax purposes conditions.
While I was in process of forming company for my wife I remember reading on some official website (could be IRS or my state comptroller's website) about green card requirement.
However I do not remember that official source right now. I will try to find that official information and post it here

But here is the link to the article talking about S-corp, please read requirement 4. This looks like authentic information but I would recommend looking for official source.

S Corporation: Definition & Eligibility Criteria - About.com

I will try to find information regarding C-corp and list it here.
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  #21  
Old 03-19-2010, 05:01 PM
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zxc1251 will become famous soon enough
Default

Here is IRS source about S-Corp.

S Corporations
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  #22  
Old 03-21-2010, 01:56 PM
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chi_shark is a glorious beacon of light chi_shark is a glorious beacon of light chi_shark is a glorious beacon of light chi_shark is a glorious beacon of light chi_shark is a glorious beacon of light
Default both those sources do not rule out S-corp for non GC

Thanks zxc1251. Both your sources about.com and IRS.gov (both of which I have scoured earlier as well) have similar language. here is the IRS.gov's page's first few lines. To me it looks like non-resident aliens cannot have S-corp. so, that means we (who are present in the US as resident aliens) are totally not disallowed from starting S-corp. Thanks!

Corporations


S corporations are corporations that elect to pass corporate income, losses, deductions and credit through to their shareholders for federal tax purposes. Shareholders of S corporations report the flow-through of income and losses on their personal tax returns and are assessed tax at their individual income tax rates. This allows S corporations to avoid double taxation on the corporate income. S corporations are responsible for tax on certain built-in gains and passive income.

To qualify for S corporation status, the corporation must meet the following requirements:
  • Be a domes
  • tic corporation
  • Have only allowable shareholders
  • including individuals, certain trust, and estates and
  • may not include partnerships, corporations or non-resident alien shareholders
  • Have no more than 100 shareholders
  • Have one class of stock
  • Not be an ineligible corporation i.e. certain financial institutions, insurance companies, and domestic international sales corporations.

Quote:
Originally Posted by zxc1251 View Post
Here is IRS source about S-Corp.

S Corporations
__________________
--------------
PD: Mar 2005
Cat: EB2
I-140 AD: Jan 2008
I-485 RD: July 20 2007
I-485 ND: Sept 29 2007
EAD: on second EAD
have used AC21
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  #23  
Old 08-13-2010, 01:15 PM
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ksircar is a glorious beacon of light ksircar is a glorious beacon of light ksircar is a glorious beacon of light ksircar is a glorious beacon of light ksircar is a glorious beacon of light
Default 1099 on EAD

Hi,

I am on EAD and now got a contract job offer on 1099.

My queations are:
1. Is it legal to be on 1099 with EAD?
2. Do I need to form my own company right now before starting the job or I can wait for six months to start my own company?
3. Can I open the company in my name only (there is some problem to open it in wife's name)?
4. Assuming it is OK to open the company after six months, in the meantime if I get a RFE from INS regarding proof of employment, then how to respond to that RFE?

Thanks in advance.
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  #24  
Old 08-13-2010, 04:16 PM
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ksircar is a glorious beacon of light ksircar is a glorious beacon of light ksircar is a glorious beacon of light ksircar is a glorious beacon of light ksircar is a glorious beacon of light
Default

^^ bump ^^

Quote:
Originally Posted by ksircar View Post
hi,

i am on ead and now got a contract job offer on 1099.

My queations are:
1. Is it legal to be on 1099 with ead?
2. Do i need to form my own company right now before starting the job or i can wait for six months to start my own company?
3. Can i open the company in my name only (there is some problem to open it in wife's name)?
4. Assuming it is ok to open the company after six months, in the meantime if i get a rfe from ins regarding proof of employment, then how to respond to that rfe?

Thanks in advance.
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