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itsforbabu

Can start a consulting company on EAD?

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Dude after I posted my question here, I happen to discuss this with all my friends. And then one of my friend suggested to meet this another friend and I came to know these details, when I met him. If you don't see this a valid possibility, then I think its waste of my time. All the best with what ever you do in your life. I can't believe you are so desperate and mean to discourage others. Stop doing this to others, that itself will be a help.

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In other words, my nagging got you to actually ask around...

So, my nagging obviously helped. You did some of the homework that I asked about, but only after I asked about it.

As a business owner, you would have to be proactive, not reactive.

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Exactly thats what it is "nagging". Either help people here or stop nagging. Dude I am here in this forum already asking for information and like wise asking everyone around. Of course I will be reactive when someone tries to spoil my loop rather than keeping quite if they don't know the answer.

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My CPA says I can open LLC S-corp which I did. And I am able to run a consulting company apart from my existing job. If you guys cant manage doing things, doesnt mean that no one else can do it. So start working making impossible as possible, rather than believing possible as impossible. If you can't answer a question don't say the question doesn't exist because it is tough to achieve.

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My CPA says I can open LLC S-corp which I did. And I am able to run a consulting company apart from my existing job. If you guys cant manage doing things, doesnt mean that no one else can do it. So start working making impossible as possible, rather than believing possible as impossible. If you can't answer a question don't say the question doesn't exist because it is tough to achieve.

Quite a lot of CPAs don't know that for an S-Corp, all shareholders have to be US citizens or Permanent Residents. That has to do with the inconsistent use of the term "Resident" in the laws.

You may be able to run a shady consulting company on the side, but for a real company, you wouldn't be...

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After reading all the discussion in this thread, I don't understand why "itsforbabu" still looking for an answer in this forum.

itsforbabu - Why can't you just ask this to an attorney. It may just cost $100 and you can get a real legal answer. I would say stop trusting "your friend" and "your other friend".

I prefer asking my questions here because I don't run a company. I am just an employee and don't want to spend $100 for every concern I have. But It makes perfect sense for a business owner to seek advice from an expert.

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After reading all the discussion in this thread, I don't understand why "itsforbabu" still looking for an answer in this forum.

itsforbabu - Why can't you just ask this to an attorney. It may just cost $100 and you can get a real legal answer. I would say stop trusting "your friend" and "your other friend".

Yeah, that's all part of the business mindset that the OP obviously doesn't have.

Lawyer consulting fees can likely also be deducted as business expense.

All these things together were what showed that the OP didn't do his homework, and that he has no clue about running a business. Sure, anybody can start a business, it doesn't cost much. Creating a successful business is a whole different story, though.

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Look at the W-9 form below from IRS carefully and look at tax classification in the top on first page. An LLC also can be an S-corp which is different from the usual S-corp. This kind of LLC based S-corp is legal to run by an EAD hoolder in the US. This is what I found out after paying 350 bucks to my CPA consultation. And he says he holds responsible for his inputs and he says he has clients who has been doing the same without any problems.

http://www.irs.gov/pub/irs-pdf/fw9.pdf

So if there is someone out there who cant answer questions just keep away. I found answer to my question and I am trying to share the same here, so dont spoil other's interests.

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Look at the W-9 form below from IRS carefully and look at tax classification in the top on first page. An LLC also can be an S-corp which is different from the usual S-corp. This kind of LLC based S-corp is legal to run by an EAD hoolder in the US. This is what I found out after paying 350 bucks to my CPA consultation. And he says he holds responsible for his inputs and he says he has clients who has been doing the same without any problems.

http://www.irs.gov/pub/irs-pdf/fw9.pdf

So if there is someone out there who cant answer questions just keep away. I found answer to my question and I am trying to share the same here, so dont spoil other's interests.

 

 

Did you finally start an S-Corp or LLC?  I guess S-Corp is better for tax purposes.

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