Arjun rao Posted November 12, 2016 Report Share Posted November 12, 2016 Hi my name is Arjun and currently working on h1b .In 2014 I opened up an LLC to start some consulting business , but till date the LLC is non operational. I haven't drawn any income / revenue neither made any profits, but I have shown some expenses and claimed it as loss in last 2 tax returns. I am shutting down my company now . My question is since I opened up an LLC on h1b and was the only owner of the company plus I have shown expenses as losses in my tax returns , WILL IT HAVE ANY IMPACT ON MY GREEN CARD (i485). If yes then what are the ways to come out of it. My priority date is April 2014. I know there is still time for it to come current but just trying to get prepared for any such situations. Quote Link to comment
pontevecchio Posted November 12, 2016 Report Share Posted November 12, 2016 If you made tax returns on a non operational LLC, talk to a lawyer. Quote Link to comment
JoeF Posted November 13, 2016 Report Share Posted November 13, 2016 Filing taxes for the business is already work, and you were not allowed to do that while on H1. On H1, you can only be a passive investor in a business, putting money in it, and not having any active role in it. Having business expenses and filing taxes for it is an active role. You need to discuss your situation with a good immigration lawyer. Quote Link to comment
Ramg12345 Posted December 29, 2020 Report Share Posted December 29, 2020 On 11/11/2016 at 7:35 PM, Arjun rao said: Hi my name is Arjun and currently working on h1b .In 2014 I opened up an LLC to start some consulting business , but till date the LLC is non operational. I haven't drawn any income / revenue neither made any profits, but I have shown some expenses and claimed it as loss in last 2 tax returns. I am shutting down my company now . My question is since I opened up an LLC on h1b and was the only owner of the company plus I have shown expenses as losses in my tax returns , WILL IT HAVE ANY IMPACT ON MY GREEN CARD (i485). If yes then what are the ways to come out of it. My priority date is April 2014. I know there is still time for it to come current but just trying to get prepared for any such situations. Hi, Please let me know if you overcome this situation and what steps taken, looking for some advice. Quote Link to comment
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