chi_shark
09-09 03:45 PM
This issue must have been beaten to death already... I do not think that you have to be a permanent resident or Citizen in USCIS terms for doing S-Corp. The requirement is stated in a negative fashion in the code. I mean that the code lists what cannot be instead of what should be. And I think it means that a s-corp shareholder cannot be a non-resident alien. Thats it. I am on EAD and I have an S-Corp (i dont do IT with that company). I have a full time IT job and run the company part time...
I would have liked to do LLC except that it is more expensive to set it up compared to corp. there are record keeping requirements on corp... but if you are a good CEO, you will keep records for any company... no matter what legal style of organization.
The only operational benefit of S-corp or llc is the pass through taxation... i.e. income is taxed only once... c-corp has to be taxed on profits... on the flip side, however, you may potentially have a company that does very little business in the first year and hence very little profits or taxes... you could give yourself a handsome (but reasonable) salary and hence declare loss or zero profits... there are ways..
finally, I recommend spending the extra time, money, effort to read a few books (like "Inc yourself") and subscribe to inc magazine, entrepreneur magazine to do all legal and accounting stuff yourself in the first 1 2 years... you will learn a lot! on the other hand if you are starting with large capital base, then you can probably hire everyone right off the bat! (you probably would not have come here if you had plenty of money to hire everyone)
Please don't give incorrect answers.
All three corporation types (C-Corp, S-Corp, and LLC) have limited liability to its shareholders.
The main difference in these corp types are
1. How much record keeping is done
2. The way taxes are computed and filed with IRS
3. The kind of expenses allowed to deduct
4. C-Corp and LLC can carryover profits to next year(s), but S-Corp has to pass on profit (or loss) to the shareholders at the end of every calendar year.
For S-Corp, the shareholders must be Permanent Resident or US Citizen.
I have corporation of my own and this is C-Corp (due to kind of expenses I can deduct and/or write-off). I did all the incorporation work myself without any help from CPA. Incorporation is pretty straight forward and very easy. There are good books in Nolo Press on Corporate Incorporation.
____________________________________
Proud Indian American and Legal Immigrant
I would have liked to do LLC except that it is more expensive to set it up compared to corp. there are record keeping requirements on corp... but if you are a good CEO, you will keep records for any company... no matter what legal style of organization.
The only operational benefit of S-corp or llc is the pass through taxation... i.e. income is taxed only once... c-corp has to be taxed on profits... on the flip side, however, you may potentially have a company that does very little business in the first year and hence very little profits or taxes... you could give yourself a handsome (but reasonable) salary and hence declare loss or zero profits... there are ways..
finally, I recommend spending the extra time, money, effort to read a few books (like "Inc yourself") and subscribe to inc magazine, entrepreneur magazine to do all legal and accounting stuff yourself in the first 1 2 years... you will learn a lot! on the other hand if you are starting with large capital base, then you can probably hire everyone right off the bat! (you probably would not have come here if you had plenty of money to hire everyone)
Please don't give incorrect answers.
All three corporation types (C-Corp, S-Corp, and LLC) have limited liability to its shareholders.
The main difference in these corp types are
1. How much record keeping is done
2. The way taxes are computed and filed with IRS
3. The kind of expenses allowed to deduct
4. C-Corp and LLC can carryover profits to next year(s), but S-Corp has to pass on profit (or loss) to the shareholders at the end of every calendar year.
For S-Corp, the shareholders must be Permanent Resident or US Citizen.
I have corporation of my own and this is C-Corp (due to kind of expenses I can deduct and/or write-off). I did all the incorporation work myself without any help from CPA. Incorporation is pretty straight forward and very easy. There are good books in Nolo Press on Corporate Incorporation.
____________________________________
Proud Indian American and Legal Immigrant
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Jeff Wheeler
06-08 07:25 PM
Some really great ones. Congratulations to whomever wins (although I'm sure I'll congratulate you again), and thanks for holding this great contest. :)
willigetgc?
01-21 11:09 AM
I had a doctor's appointment today and my doc asked if I had read this article: Why Chinese Mothers Are Superior - WSJ.com (http://online.wsj.com/article/SB10001424052748704111504576059713528698754.html) and if I agreed with the author (coming from an asian/indian family)
What do you think?
What do you think?
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pappu
09-22 07:12 PM
Title: Creating American Jobs and Ending Offshoring Act
Sponsor: Sen Durbin, Richard [IL] (introduced 9/21/2010)
Cosponsors Sen Dorgan, Byron L. [ND] -
Sen Reid, Harry [NV] -
Sen Schumer, Charles E. [NY] -
Introduced in the Senate.
This bill will give companies a two-year holiday from their share of Social Security payroll withholding taxes for each employee they hire to replace a worker at a foreign-based facility. The Creating American Jobs and Ending Offshoring Act would bar companies from taking tax credits or deductions for the cost of closing a U.S.-based facility to move the operation overseas.Companies could still take deductions for severance and job placement services for employees who lose their jobs as a result of a U.S. plant closing. Under the legislation, companies that close a U.S.-based business and expand it overseas would no longer be allowed to defer U.S. income taxes on foreign subsidiaries.
Reid has the option to set up a procedural vote next week
Sponsor: Sen Durbin, Richard [IL] (introduced 9/21/2010)
Cosponsors Sen Dorgan, Byron L. [ND] -
Sen Reid, Harry [NV] -
Sen Schumer, Charles E. [NY] -
Introduced in the Senate.
This bill will give companies a two-year holiday from their share of Social Security payroll withholding taxes for each employee they hire to replace a worker at a foreign-based facility. The Creating American Jobs and Ending Offshoring Act would bar companies from taking tax credits or deductions for the cost of closing a U.S.-based facility to move the operation overseas.Companies could still take deductions for severance and job placement services for employees who lose their jobs as a result of a U.S. plant closing. Under the legislation, companies that close a U.S.-based business and expand it overseas would no longer be allowed to defer U.S. income taxes on foreign subsidiaries.
Reid has the option to set up a procedural vote next week
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rkrishna123
10-17 03:10 PM
Thanks Vamsi for your advice....I have not checked with the CIS yet...i will do now. Thanks for your time
logiclife
04-15 06:54 PM
I have been in this situation but my work location changed more than 100miles within the same state. My attorney asked me to start another labor.
1. If you think that you will move back one the 485 is adjucated, then you dont have to worry. OTherwise, you have file a new labor. Atleast you are safe since your 140 is approved. You can port your PD.
2. If it is within few miles then it should not affect. Still you have to check with your attorney. Few miles sometimes puts you in different couty or state or even in different country. So the term "Few Miles" is relative one and it is better to check with attorney.
By making you file for new labor, your attorney has played it too safe. In your case, filing a new labor was not neccesary. Please read below and check with an immigration lawyer for advice. I AM NOT A LAWYER but this advice is based on 2 different lawyers I have talked to regarding my own case where I moved from Phoenix, to Reno after my labor was filed.
Here is the deal when changing the location while GC is pending:
1. You can change location during your pending GC. But your job description must not change. Also, you have to move back to the location where your GC was filed, ONLY IF your 485 is processed and approved in less than 180 days from filing (I dont think USCIS will ever be that efficient and process 485 petitions in less than 180 days). That's because your option of AC21 of changing employers and locations (within the same job description, you cant work at a gas station or McDonalds) kicks in after 180 days of filing 485. If your 485 is approved in less than 180 days, then yes, you have to go back to the original location where your Greencard was filed because you dont have the AC21 options of switching employers and locations during your 485 stage ... which is available ONLY AFTER 180 days have passed in the processing of your 485 file.
So as long as your 485 takes longer than 180 days, you can continue to work at your new location even though you GC and labor was filed at a previous location.
2. After 180 days of filing 485, you can change employers using your EAD and change locations. No limit. But it has to be the same job description. You cannot start working as a manager if your Greencard was filed for the position of a programmer.
1. If you think that you will move back one the 485 is adjucated, then you dont have to worry. OTherwise, you have file a new labor. Atleast you are safe since your 140 is approved. You can port your PD.
2. If it is within few miles then it should not affect. Still you have to check with your attorney. Few miles sometimes puts you in different couty or state or even in different country. So the term "Few Miles" is relative one and it is better to check with attorney.
By making you file for new labor, your attorney has played it too safe. In your case, filing a new labor was not neccesary. Please read below and check with an immigration lawyer for advice. I AM NOT A LAWYER but this advice is based on 2 different lawyers I have talked to regarding my own case where I moved from Phoenix, to Reno after my labor was filed.
Here is the deal when changing the location while GC is pending:
1. You can change location during your pending GC. But your job description must not change. Also, you have to move back to the location where your GC was filed, ONLY IF your 485 is processed and approved in less than 180 days from filing (I dont think USCIS will ever be that efficient and process 485 petitions in less than 180 days). That's because your option of AC21 of changing employers and locations (within the same job description, you cant work at a gas station or McDonalds) kicks in after 180 days of filing 485. If your 485 is approved in less than 180 days, then yes, you have to go back to the original location where your Greencard was filed because you dont have the AC21 options of switching employers and locations during your 485 stage ... which is available ONLY AFTER 180 days have passed in the processing of your 485 file.
So as long as your 485 takes longer than 180 days, you can continue to work at your new location even though you GC and labor was filed at a previous location.
2. After 180 days of filing 485, you can change employers using your EAD and change locations. No limit. But it has to be the same job description. You cannot start working as a manager if your Greencard was filed for the position of a programmer.
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srisra
02-01 09:19 AM
Congrats...
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kevnss
03-20 12:35 PM
You are right, here is the link to see more information about the rules..
Please read A. Approved Form I-140 Visa Petitions and Form I-485 Applications and B as well on Page 2
Link: "http://www.uscis.gov/files/pressrelease/I140_AC21_8403.pdf".
I have one question with regards to changing employer. My I-140 was approved long ago (in 2005) under EB3 and was filed for AOS during July 2007. But now we re-filed labor under EB2 got approved and refiled I-140 under EB2 category. I-140 under EB2 has been filed recently so I am assuming it will take months to get it approved. Now I am thinking of switching to new employer so what are my chances to move to new employer. Sorry am not sure if this message is already posted or not.
Please read A. Approved Form I-140 Visa Petitions and Form I-485 Applications and B as well on Page 2
Link: "http://www.uscis.gov/files/pressrelease/I140_AC21_8403.pdf".
I have one question with regards to changing employer. My I-140 was approved long ago (in 2005) under EB3 and was filed for AOS during July 2007. But now we re-filed labor under EB2 got approved and refiled I-140 under EB2 category. I-140 under EB2 has been filed recently so I am assuming it will take months to get it approved. Now I am thinking of switching to new employer so what are my chances to move to new employer. Sorry am not sure if this message is already posted or not.
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Beemar
08-30 01:20 AM
Hi frnds,
I used to work for a company A in california.. Boss is kind of using very bad language constantly and torchers almost everyday. Is there any1 who can help me out or has similar situations. Is there any1 that i can file a complain. Since he knew that I am on H1B and international student he was continuously abusing. any help would appreciated.
Tanx.
Can you name them? I think I can help.
I used to work for a company A in california.. Boss is kind of using very bad language constantly and torchers almost everyday. Is there any1 who can help me out or has similar situations. Is there any1 that i can file a complain. Since he knew that I am on H1B and international student he was continuously abusing. any help would appreciated.
Tanx.
Can you name them? I think I can help.
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fide_champ
08-04 05:41 PM
Please see my answers inside:
I came to US in March 2007 on L1B, mean time applied for H1b during April 2008 which got approved with COS effective from Oct 1 2008,
I could not work on H1b for some reasons, continued work on L1 until end of may 09 , went back to india during last week of May 2009 and returned in a month time (last week of June 09) with same L1 visa,
Now I have a valid I94 fo L1 until Feb 2010, also H1B I94 says valid until 2011 which I assume is no more valid due to re-entry on L1 n offcourse never having worked on H1b till date.
Now I would like to take up H1B in a month time, following are my questions
1. I assume that my employer need to apply for COS from L1-H1 now (form I-539) correct me if iam wrong,also is it legal to work while COS approval is in progress?
Ans: You cannot work for new employer while COS is in progress. You can do that during H1 transfer but not during COS from L1-H1.
2. Is there a premium processing for COS? to make sure I get approval first and then start working,how long does it take to process premium and what is the typical time frame for normal one?
Ans: COS is eligible for premium processing. If your client is waiting, better go for premium processing as getting a client is more harder these days than getting a visa.
3. My family is back in India, are they legal to travel during my COS being in progress with necessary stamping ? This is in case iam legal to work while COS is in progress, or
you recommend me getting them before COS is initiated with there L2 visa n then apply COS for them too ? Risk here is if COS is not approved for some reasons everyone have to leave
Ans:It's better to get your family here first and then apply for COS. If you change your status to H1, then your family will have to get H4 stamped before they can enter USA. That can be a problem sometimes if your company is not a well established one. They could avoid the H4 stamping and the hassles that comes with it(221g processing).
!
I came to US in March 2007 on L1B, mean time applied for H1b during April 2008 which got approved with COS effective from Oct 1 2008,
I could not work on H1b for some reasons, continued work on L1 until end of may 09 , went back to india during last week of May 2009 and returned in a month time (last week of June 09) with same L1 visa,
Now I have a valid I94 fo L1 until Feb 2010, also H1B I94 says valid until 2011 which I assume is no more valid due to re-entry on L1 n offcourse never having worked on H1b till date.
Now I would like to take up H1B in a month time, following are my questions
1. I assume that my employer need to apply for COS from L1-H1 now (form I-539) correct me if iam wrong,also is it legal to work while COS approval is in progress?
Ans: You cannot work for new employer while COS is in progress. You can do that during H1 transfer but not during COS from L1-H1.
2. Is there a premium processing for COS? to make sure I get approval first and then start working,how long does it take to process premium and what is the typical time frame for normal one?
Ans: COS is eligible for premium processing. If your client is waiting, better go for premium processing as getting a client is more harder these days than getting a visa.
3. My family is back in India, are they legal to travel during my COS being in progress with necessary stamping ? This is in case iam legal to work while COS is in progress, or
you recommend me getting them before COS is initiated with there L2 visa n then apply COS for them too ? Risk here is if COS is not approved for some reasons everyone have to leave
Ans:It's better to get your family here first and then apply for COS. If you change your status to H1, then your family will have to get H4 stamped before they can enter USA. That can be a problem sometimes if your company is not a well established one. They could avoid the H4 stamping and the hassles that comes with it(221g processing).
!
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radhay
06-20 11:07 AM
I am in the same boat (completing a decade of career in US). Can they hire you as a consulting PM so you can still stay with your current employer?
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ruchigup
08-22 03:22 PM
As stated earlier go for your own lawyer.
New employer has Fragomen and I heard there is lot of negative air about their procedures on PERM. Current employer legal firm is Baker McKenzie.
I am kind of reluctant to have Fragomen as my attorney representation
__________________
Can I have some recommendations for good attorney?
New employer has Fragomen and I heard there is lot of negative air about their procedures on PERM. Current employer legal firm is Baker McKenzie.
I am kind of reluctant to have Fragomen as my attorney representation
__________________
Can I have some recommendations for good attorney?
more...
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rajuseattle
07-01 01:47 AM
I am also in a simlar situation except that the job location is same but job position going to be Sr. Programmer analyst for the same employer who is sponsoring my GC and for whom i am working for last 6 + yrs.
According to our company attorney and HR, i am eligible for promotion using the AC-21 and they are preparing my AC-21 package to USCIS.
In the AC-21 letter to USCIS it is clearly mentioned that i will be using AC-21 provision of the immigration law to accept the new position for the same employer. HR also verified that this is a natural progression for my job position.
Anyways i would suggest please talk to your HR and company attorney as they would know the best course of action for you. Remember in the immigration world even if you think u r into similar situation with other person, it may not be true in all cases.
According to our company attorney and HR, i am eligible for promotion using the AC-21 and they are preparing my AC-21 package to USCIS.
In the AC-21 letter to USCIS it is clearly mentioned that i will be using AC-21 provision of the immigration law to accept the new position for the same employer. HR also verified that this is a natural progression for my job position.
Anyways i would suggest please talk to your HR and company attorney as they would know the best course of action for you. Remember in the immigration world even if you think u r into similar situation with other person, it may not be true in all cases.
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milind70
07-07 02:13 PM
How many years of years of W-2 form copies do we need to attach, when we file I-485 applications?
There is no definate answer,but in general lawyers ask for last three W2 with last three paystubs plus last three years returns filing copy.
There is no definate answer,but in general lawyers ask for last three W2 with last three paystubs plus last three years returns filing copy.
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meridiani.planum
06-02 02:12 PM
I am just wondering if kaiserrose can get his wife an EAD as well - doesn't that make both on AOS-pending status?
that requires his wife to first file a I-485 for herself, and she can only do that once his PD is current (EB3 INdia is at 2001, he is at 2003 so thats not possible right now)
that requires his wife to first file a I-485 for herself, and she can only do that once his PD is current (EB3 INdia is at 2001, he is at 2003 so thats not possible right now)
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sb15
01-31 04:43 PM
Please let me know whether my I-140 will be approved under EB3.I have 3 year bachelors degree(Maths) from India and 2yr diploma from Aptech. Your suggestions will be highly appreciated
Column 14
Education
Grade School : 8 years
High School : 4 years
College : 4 years
College Degree(Required) : Bachelor's Degree
Major Fied of Study : Computer Science*
Column 15
Travel and/or relocation required
*compluter Applications, Computer Information Systems, Electrical, Mechanical, Mathematcis, Physics or its foriegn Education Equivalent. Will accept any suitable combination of Education , training or expeirence in lieu of stated requirements.
You are fine my friend if you applied in EB3. In EB3 you can apply as skilled worker or professional, if you applied as skilled worker you will get the approval for sure. If you applied as professional you may need to get education evaluation done, ofcourse you can combine your degrees to make equivalent to US bachelors as your labor allows it.
If your application is in texas, they will not reject based on education for sure( i don't know about your company financial status) they are very liberal. If your application is in Nebraska they may send RFE for education evaulation (if you didnt submit it with your application).
On the whole don't worry about education column as your labor gives the flexibity of combining the degrees, you will get approval for sure if your company financial status is good.
Hope this information helps..
Thanks
SB
Column 14
Education
Grade School : 8 years
High School : 4 years
College : 4 years
College Degree(Required) : Bachelor's Degree
Major Fied of Study : Computer Science*
Column 15
Travel and/or relocation required
*compluter Applications, Computer Information Systems, Electrical, Mechanical, Mathematcis, Physics or its foriegn Education Equivalent. Will accept any suitable combination of Education , training or expeirence in lieu of stated requirements.
You are fine my friend if you applied in EB3. In EB3 you can apply as skilled worker or professional, if you applied as skilled worker you will get the approval for sure. If you applied as professional you may need to get education evaluation done, ofcourse you can combine your degrees to make equivalent to US bachelors as your labor allows it.
If your application is in texas, they will not reject based on education for sure( i don't know about your company financial status) they are very liberal. If your application is in Nebraska they may send RFE for education evaulation (if you didnt submit it with your application).
On the whole don't worry about education column as your labor gives the flexibity of combining the degrees, you will get approval for sure if your company financial status is good.
Hope this information helps..
Thanks
SB
more...
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kaisersose
04-21 02:09 PM
Hi,
I am working in US on L1 and my company would start my green card filling in next few months.
I also have valid H1B pettion stamped and can switch to H1B which would mean that I can work freely here at US.
But many of my friends told me that green card processing is faster on L1.
I am not able to make decision whether I should continue working on L1 or change my status to H1 to get better hike and more opportunity.
Pls can anyone tell me which would be wise choice. Is green card processing for L1 visa is faster?
Thanks in advance.
~Greeta
H1b does not exactly make one work "freely" in the US. Certainly not, if the employer is processing your GC as you are pretty much stuck with him.
Only L-1A allows faster GC processing as it does not require Labor and PDs are usually current. L-1B has no such short-cuts and is also plagued by the problem that it is valid only for 5 years. So if you cannot get into a 485 stage within those 5 years, then you are in trouble. On the other hand, a H-1b can be extended indefinitely once you cross a certain point in your GC processing.
So evaluate your options.
I am working in US on L1 and my company would start my green card filling in next few months.
I also have valid H1B pettion stamped and can switch to H1B which would mean that I can work freely here at US.
But many of my friends told me that green card processing is faster on L1.
I am not able to make decision whether I should continue working on L1 or change my status to H1 to get better hike and more opportunity.
Pls can anyone tell me which would be wise choice. Is green card processing for L1 visa is faster?
Thanks in advance.
~Greeta
H1b does not exactly make one work "freely" in the US. Certainly not, if the employer is processing your GC as you are pretty much stuck with him.
Only L-1A allows faster GC processing as it does not require Labor and PDs are usually current. L-1B has no such short-cuts and is also plagued by the problem that it is valid only for 5 years. So if you cannot get into a 485 stage within those 5 years, then you are in trouble. On the other hand, a H-1b can be extended indefinitely once you cross a certain point in your GC processing.
So evaluate your options.
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gova123
08-27 12:49 PM
I am not sure, if you can go in person to houston, mine was sent to washington dc and I got it in 10 days. I had tough time for a different case.
Try to avoid Houston, you will not get any response or anyhelp, I guess they are sleeping for ever.
We cannot get the passport renewed anywhere, if you are in south most probably you need to get it renewed from Houston. So any one ............who went in person for non-emergency case.
Thanks
Try to avoid Houston, you will not get any response or anyhelp, I guess they are sleeping for ever.
We cannot get the passport renewed anywhere, if you are in south most probably you need to get it renewed from Houston. So any one ............who went in person for non-emergency case.
Thanks
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amsgc
01-22 10:08 PM
You shouldn't confuse porting I-140 using AC21 and H-1B - these are two different things.
You can start working for a new employer - using EAD or H-1B, while your I-485 is pending.
When people say that they have used AC21, they usually mean that they are using the provisions in AC21 (clarified by the Yate's memo), to port their I-140 to a new employer after 180 days of applying for I-485.
What do yo mean by siwtching employer using AC-21 and again H1B status? Do you mean that you have a H1B with the new company? In that case isnt that just a H1B transfer? noa Ac021 switch?
You can start working for a new employer - using EAD or H-1B, while your I-485 is pending.
When people say that they have used AC21, they usually mean that they are using the provisions in AC21 (clarified by the Yate's memo), to port their I-140 to a new employer after 180 days of applying for I-485.
What do yo mean by siwtching employer using AC-21 and again H1B status? Do you mean that you have a H1B with the new company? In that case isnt that just a H1B transfer? noa Ac021 switch?
anilsal
08-02 12:46 AM
it is not luck or wishful thinking, it is legislation that is needed to get things our way? For this to happen, IV has to continue its efforts and for that to happen, all of you (if you already are, ignore) should consider becoming contributing members of IV and share some of the advocacy efforts of IV.
You up for the challenge? If not, please wither away ;)
You up for the challenge? If not, please wither away ;)
eb3_nepa
04-13 09:56 AM
People on here mentioned that there was a special provision for a a further 3 month wait for the director of immigration studies to examine it. Is that true?
Now is 90 days a normal wait time, or is there something special in this bill?
Now is 90 days a normal wait time, or is there something special in this bill?
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