martingale Posted May 28, 2013 Report Posted May 28, 2013 I'm holding a h1b visa and I have a side line besides my job. It's a e-business, buy sell merchant online. the transaction is growing and I have an international wire transfer to my checking account from overseas pretty regularly now.but each transaction is below 10k. Will IRS know my business and request me to pay tax on this? Shall I proactively report this income? Will this cause any problem for my green card application? Thanks
omshiv Posted May 28, 2013 Report Posted May 28, 2013 you shouldnt have been working this side business...have you even registered this business? you should work and get paid only by your H1B sponsorer...you are in serious trouble...contact an attorney today.
pontevecchio Posted May 28, 2013 Report Posted May 28, 2013 Please discuss your serious issues with a Lawyer and the sooner the better.
sam1586 Posted May 28, 2013 Report Posted May 28, 2013 What I heard is, When you are H-1B you are not legally allowed to participate in the secondary jobs. May be you need to consult a good Lawyer.
JoeF Posted May 29, 2013 Report Posted May 29, 2013 I'm holding a h1b visa and I have a side line besides my job. That's ILLEGAL. Will IRS know my business and request me to pay tax on this? You ABSOLUTELY have to pay taxes for this. And you NEED to stop this side business immediately.
martingale Posted May 29, 2013 Author Report Posted May 29, 2013 What I heard is, When you are H-1B you are not legally allowed to participate in the secondary jobs. May be you need to consult a good Lawyer. Please discuss your serious issues with a Lawyer and the sooner the better. you shouldnt have been working this side business...have you even registered this business? you should work and get paid only by your H1B sponsorer...you are in serious trouble...contact an attorney today. H1b visa doesn't restrict someone from buy sell something to make profit. examples are you can still buy sell a car and make a difference, buy sell on ebay. and they are not full time jobs. and if student with F visa and housewife with H4 visa can do this, what's wrong with H1. yes, H1 employers are still their employers, but you can make other income and needless to say if you can register the income in other country.
JoeF Posted May 30, 2013 Report Posted May 30, 2013 H1b visa doesn't restrict someone from buy sell something to make profit. If it is a business-like thing it is NOT allowed on H1. CASUAL selling on eBay would be allowed, but NOT buying and immediately selling stuff. You can sell your used car, but you can't flip a car. they are not full time jobs. Completely irrelevant. and if student with F visa and housewife with H4 visa can do this, what's wrong with H1 They can't make it a business, either. but you can make other income and needless to say if you can register the income in other country. NO, you can NOT. ANd on H1, you have to declare your WORLDWIDE income on your US tax returns, anyway. The bottom line: On H1 you can NOT NOT NOT work on the side. Period.
martingale Posted May 30, 2013 Author Report Posted May 30, 2013 If it is a business-like thing it is NOT allowed on H1. CASUAL selling on eBay would be allowed, but NOT buying and immediately selling stuff. You can sell your used car, but you can't flip a car. Completely irrelevant. They can't make it a business, either. NO, you can NOT. ANd on H1, you have to declare your WORLDWIDE income on your US tax returns, anyway. The bottom line: On H1 you can NOT NOT NOT work on the side. Period. at least I can't agree with your last statement, H1 does not need to declare their income WORLDWIDE! that's a requirement only for permanent resident and US citizen.
omshiv Posted May 30, 2013 Report Posted May 30, 2013 H1b visa doesn't restrict someone from buy sell something to make profit. examples are you can still buy sell a car and make a difference, buy sell on ebay. and they are not full time jobs. and if student with F visa and housewife with H4 visa can do this, what's wrong with H1. yes, H1 employers are still their employers, but you can make other income and needless to say if you can register the income in other country. I dont think you understand the consequences...better talk to an Attorney to be on the safer side.
JoeF Posted May 31, 2013 Report Posted May 31, 2013 at least I can't agree with your last statement, H1 does not need to declare their income WORLDWIDE! that's a requirement only for permanent resident and US citizen. WRONG! I suggest you check out IRS Publication 519, in particular the Significant Presence Test. You will see that I am right! A person on H1, except possibly for the first year, absolutely has to declare his or her WORLDWIDE income on the US tax returns. Period.
JoeF Posted May 31, 2013 Report Posted May 31, 2013 I dont think you understand the consequences... It is obvious that the OP doesn't understand that he is illegal...
martingale Posted May 31, 2013 Author Report Posted May 31, 2013 I dont think you understand the consequences...better talk to an Attorney to be on the safer side. thanks for advice omshiv. will check that again.
t75 Posted May 31, 2013 Report Posted May 31, 2013 OP, If you do not like the restrictions on an H-1B visa, you are free to go home where you can pursue your second job free on US laws governing guest workers.
omshiv Posted May 31, 2013 Report Posted May 31, 2013 thanks for advice omshiv. will check that again. Sure..do that...But Remember, in the US - Ignorance is not a Bliss. Especially related to Immigration matters.
H visa questions Posted February 22, 2016 Report Posted February 22, 2016 What form must be used to report wages from illegal or unauthorized work??
JoeF Posted February 23, 2016 Report Posted February 23, 2016 What form must be used to report wages from illegal or unauthorized work?? The 1040, just like for every other tax filing.
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