Starting Independent Consulting on Green Card

[randheep]

Hi,

I've got my green-card a few months back. I'm planning to become an independent consultant. Can someone help whether I should select an option for EIN or Sole propreiter-ship? My query is which is better to be on 1099 or W2 of your own company.

Thanks,

Randheep

[randheep]

Thank you. Where can I find a good CPA, can the person who does my taxes help out or I need to reach out to different kind of CPAs?

[catx]

Respectfully, you need to do a lot more research into what it takes to start and run a business. It is a fairly complex effort to do right, with many, many decisions. Understanding types of legal business entities (sole-proprietorship, different types of corporations), what to look for in a financial / accounting consultant are just a couple (of the many). Most new small business fail, and this is in large part because of a lack of understanding, knowledge, planning, and financial resources / support.

[t75]

Your local community college probably has classes about starting a small business.

You need exceptional credentials to be a consultant and need to be sure you have proper licenses - professional and business.

[catx]

What t75 said ... and insurance (liability, key man, etc.), proof of finances to support operations through a project, etc., etc.

[t75]

and business attorney to go with the CPA.

In otehr words, OP, you need to do a lot more researh to have the best chance of success.