desi3933
09-05 05:53 PM
Thanks, nice reply.
Question: I am on EAD and inovked AC21 and working with new employer. I am planning to register a company confused which one to go with LLC or C Corp., by the way I live in California, San Jose. I heard that if you register a LLC in California every year you have to around $800 tax fee, weather you do a business or not, is it true?
If I go with C-Corp, shall I liable to $800 as well, any ideas??
What is the deference between LLC and C-Corp? I know every state has deferent laws but I would appreciate if someone can answer my questions from California state.
Thanks in advance.
The minimum California franchise tax is the amount a California corp must pay the first quarter of each tax year whether it is active, operates at a loss or does not do business. The current minimum tax is $800.
The $800 tax payment is not due during the corporation's FIRST tax year. The first $800 minimum tax is due on the 15th day of the 4th month of the corporation's SECOND tax year.
Please note that LLCs are liable for the minimum franchise tax in all years (no two year exemption for LLCs).
Please check details with California Franchise Tax Board. The web site is http://www.ftb.ca.gov
*** Disclaimer - This is general info and use it at your own risk *****
____________________________________
Proud Indian American and Legal Immigrant
Question: I am on EAD and inovked AC21 and working with new employer. I am planning to register a company confused which one to go with LLC or C Corp., by the way I live in California, San Jose. I heard that if you register a LLC in California every year you have to around $800 tax fee, weather you do a business or not, is it true?
If I go with C-Corp, shall I liable to $800 as well, any ideas??
What is the deference between LLC and C-Corp? I know every state has deferent laws but I would appreciate if someone can answer my questions from California state.
Thanks in advance.
The minimum California franchise tax is the amount a California corp must pay the first quarter of each tax year whether it is active, operates at a loss or does not do business. The current minimum tax is $800.
The $800 tax payment is not due during the corporation's FIRST tax year. The first $800 minimum tax is due on the 15th day of the 4th month of the corporation's SECOND tax year.
Please note that LLCs are liable for the minimum franchise tax in all years (no two year exemption for LLCs).
Please check details with California Franchise Tax Board. The web site is http://www.ftb.ca.gov
*** Disclaimer - This is general info and use it at your own risk *****
____________________________________
Proud Indian American and Legal Immigrant
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thomachan72
01-21 12:07 PM
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?
I agree 101%:D:D
What do you think?
I agree 101%:D:D
InTheMoment
04-09 08:58 PM
I take it the program you applied for is not in the NRMP match and/or you are given a pre-match.
In any case if you want the program you desire and you are fortunate to have the EAD in hand ...what should stop you ! In my opinion just use the EAD and make the best.
I am using AC21 and my spouse is also going in for fellowship. We did not blink a moment to make the best out of the EAD.
So go for it ! (after consulting a reputable attorney if that would make you feel better)
In any case if you want the program you desire and you are fortunate to have the EAD in hand ...what should stop you ! In my opinion just use the EAD and make the best.
I am using AC21 and my spouse is also going in for fellowship. We did not blink a moment to make the best out of the EAD.
So go for it ! (after consulting a reputable attorney if that would make you feel better)
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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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ds37
06-12 10:33 AM
Why before October?
Because Mahatma Gandhi was born on october.:):)
His 6years end in oct 2010.
ds
Because Mahatma Gandhi was born on october.:):)
His 6years end in oct 2010.
ds
ashkam
03-19 02:05 PM
low hanging fruit (http://www.google.com/search?hl=en&q=I-485+low-hanging+fruit&btnG=Google+Search)
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mnkaushik
06-04 10:02 AM
I got an account verification letter from HSBC Online Savings Bank. Just go to the Bank Mail section and ask for an AV letter. They will charge you $20 or $25 for it. I got it done last month.
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linuxra
07-22 11:56 AM
I submitted RFE with all necessary documents from my side everything is ok...
i got an email that my docs recieved and rfe docs recieved...
thats it nothing recieved after that and my pd is current next month
i got an email that my docs recieved and rfe docs recieved...
thats it nothing recieved after that and my pd is current next month
more...
iv_only_hope
02-17 10:10 AM
Well, no other sites have posted this. Murthy, AILA etc. so its difficult establishing credibility. Also, dont you find it strange that he says EB3 India wont move? It has been at 2001 since long time (excluding anomalies). If that wont move this year when will it move. Are there so many eb3s ? especially with ppl porting to eb2s?
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unseenguy
06-12 09:08 AM
Hi,
While in the process of filing for labor certification my company has found 2 suitable citizens who are eligible for the job.
Now what are my options going forward and how does this affect my chances of a successful PERM filing ??
I'm filing in EB3 category right now. Also I need to file for labor before oct since my H1 will expire its original 6 year length next Oct (Oct 2010).
Ask your company what the plan is. If they say wait 6 months or something, just find another job and move on quietly. You must have perm filed by oct this year.
While in the process of filing for labor certification my company has found 2 suitable citizens who are eligible for the job.
Now what are my options going forward and how does this affect my chances of a successful PERM filing ??
I'm filing in EB3 category right now. Also I need to file for labor before oct since my H1 will expire its original 6 year length next Oct (Oct 2010).
Ask your company what the plan is. If they say wait 6 months or something, just find another job and move on quietly. You must have perm filed by oct this year.
more...
gveerab
02-23 01:18 AM
Hey Guys,
I am not sure about the status in 2009, but till the end of year 2008 I didn't face any problems. I used to travel at least once in a quarter to over seas during 2006,2007,2008 and almost all the times my POE is SFO. I never faced any problem, in fact entry in through SFO is like a automated process at vending machine or grocery store . Submit the form, copy of H1B and then give finger prints and smile for photo(if you have energy after long hours flight). Only question they used to ask is "are you bring any food items?"
One thing I observed is, if you confuse IOs by trying to give more information or giving more documents etc, you will be creating problems . Always I used to answer YES for the question "are you bringing any food?". Some IOs questioned about that and didn't bother to ask H1B related questions. This trick has been worked so far for me. I have all the documents and didn't have any problem with status, job etc. But still why you want to discuss more about those and create problems for yourself.
I heard one guy gave his AP document with H1B visa and requested the IO to consider only H1B. In this case IO didn't accept the H1B, as IO thought this guy has more advanced visa(in this case AP). These are the things we should be very careful, if you want to use your H1B, don't even talk about or show AP or any other documents.
Thanks,
Veera
I am not sure about the status in 2009, but till the end of year 2008 I didn't face any problems. I used to travel at least once in a quarter to over seas during 2006,2007,2008 and almost all the times my POE is SFO. I never faced any problem, in fact entry in through SFO is like a automated process at vending machine or grocery store . Submit the form, copy of H1B and then give finger prints and smile for photo(if you have energy after long hours flight). Only question they used to ask is "are you bring any food items?"
One thing I observed is, if you confuse IOs by trying to give more information or giving more documents etc, you will be creating problems . Always I used to answer YES for the question "are you bringing any food?". Some IOs questioned about that and didn't bother to ask H1B related questions. This trick has been worked so far for me. I have all the documents and didn't have any problem with status, job etc. But still why you want to discuss more about those and create problems for yourself.
I heard one guy gave his AP document with H1B visa and requested the IO to consider only H1B. In this case IO didn't accept the H1B, as IO thought this guy has more advanced visa(in this case AP). These are the things we should be very careful, if you want to use your H1B, don't even talk about or show AP or any other documents.
Thanks,
Veera
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veni001
02-03 03:53 PM
thank you veni, that is very informative and solid reference.
looks like under 'advanced degree' category, just having a US Masters or foreign equivalent (4+2) is enough. lot of people are under the impression, its MS+3yrs. but the description in USCIS link states just an advanced degree (higher than baccalaureate) is enough. am i reading this right?
BS+5years is equivalent to having an Advanced degree.
But, I think its BS+5yrs, not BS Equivalent + 5 yrs.
That's correct.
Good luck!
looks like under 'advanced degree' category, just having a US Masters or foreign equivalent (4+2) is enough. lot of people are under the impression, its MS+3yrs. but the description in USCIS link states just an advanced degree (higher than baccalaureate) is enough. am i reading this right?
BS+5years is equivalent to having an Advanced degree.
But, I think its BS+5yrs, not BS Equivalent + 5 yrs.
That's correct.
Good luck!
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a_paul1
03-30 01:48 PM
If no, you deserve this and rot in hell.
How in the world did you get so many greens??
You have done your bit. Great! But that doesnt mean everyone has to believe in what you believe. You are acting as if you made a mistake by contributing to IV because other people are not contributing and that is frustrating to you. Please don't think you are doing a favor to anybody by contributing to IV. You are doing it for your own benefit. If somebody doesn't want to contribute, that's fine. Nobody needs a preaching here.
Contributing to IV is not the only possible contribution that a person may make to this world.
How in the world did you get so many greens??
You have done your bit. Great! But that doesnt mean everyone has to believe in what you believe. You are acting as if you made a mistake by contributing to IV because other people are not contributing and that is frustrating to you. Please don't think you are doing a favor to anybody by contributing to IV. You are doing it for your own benefit. If somebody doesn't want to contribute, that's fine. Nobody needs a preaching here.
Contributing to IV is not the only possible contribution that a person may make to this world.
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number30
04-12 12:10 AM
Hi guys,
I am a new bie but in deep trouble,
My case is like this
Have valid I-797 - till - Jan 16,2009 ( now expired right )
Valid I-94 - till -Jan 24 , 2009 ( now expired right )
Applied for extension in --- Sept 2008( 5months before I-94 expiry date)
Applied for premium in -- Feb 26, 2009
RFE -- Mar 2, 2009
Denied -- Mar 31,2009
Trying to transfer my H1- to another product company under premium.
I heard if you appeal the denial, you cant file the transfer, so i dont want to appeal,
Please correct me if this is incorrect ???? gurus please help me,
As I know I dont have any status but denial letter says appeal with in 33 days.
Consulted PRODUCT COMPANY ATTERNEY , said you can stay up till 30 days.
Is it possible to transfer with out appeal or MTR for the current denial ?
Please advice, as I am already running out of time....
thanks
jvs
There is bigger problem than H1 approval i.e. overstaying. If overstay more then six months you will barred for 3 years. So go out as soon as possible and come back with another H1
I am a new bie but in deep trouble,
My case is like this
Have valid I-797 - till - Jan 16,2009 ( now expired right )
Valid I-94 - till -Jan 24 , 2009 ( now expired right )
Applied for extension in --- Sept 2008( 5months before I-94 expiry date)
Applied for premium in -- Feb 26, 2009
RFE -- Mar 2, 2009
Denied -- Mar 31,2009
Trying to transfer my H1- to another product company under premium.
I heard if you appeal the denial, you cant file the transfer, so i dont want to appeal,
Please correct me if this is incorrect ???? gurus please help me,
As I know I dont have any status but denial letter says appeal with in 33 days.
Consulted PRODUCT COMPANY ATTERNEY , said you can stay up till 30 days.
Is it possible to transfer with out appeal or MTR for the current denial ?
Please advice, as I am already running out of time....
thanks
jvs
There is bigger problem than H1 approval i.e. overstaying. If overstay more then six months you will barred for 3 years. So go out as soon as possible and come back with another H1
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r50000
07-27 06:30 PM
hi All,
Is there any way to know if employer revoked I140. With what I understand if the employer revokes within 180 days of I485 filing, then we are screwed.
Thanks for the replies.
thanks!
Is there any way to know if employer revoked I140. With what I understand if the employer revokes within 180 days of I485 filing, then we are screwed.
Thanks for the replies.
thanks!
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unaikax
01-04 07:15 PM
I recently quit Wipro in United States after servicing two weeks notice period. Wipro didn't want me to stay longer as client was not willing to pay longer than two weeks. I have not signed any service agreement with them when I came onsite on H1B. However, they insist that their deputation letter sent through email is legally binding on me even though I didn't sign a hard copy of the letter. They are asking me to pay $10,00 or serve 6 months notice period which is no longer possible as I have already joined another company. I am seeking legal help in India and planning to sue them as they have withold all my PF, Gratuity, Leave encashment and other dues, experience/relieving letter. Is it possible to sue them in United States as I currently do not stay in India? Also, can I complain to DOL, USCIS about these issues. If yes, how do I go about it?
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kshitijnt
02-17 07:34 AM
I have a couple of questions:
1. In the AP application form, there is a question on when you intend to travel. What should I enter there when I am only applying for some future travel and am not sure about the dates?
2. I had worked on OPT after my graduation before switching to H1 visa. So when I apply for EAD now, should I apply as a renewal applicant or a new applicant? Is OPT the same as EAD?
thanks.
1. Write unknown
2. New applicant, if you are applying under c09 category for the first time.
1. In the AP application form, there is a question on when you intend to travel. What should I enter there when I am only applying for some future travel and am not sure about the dates?
2. I had worked on OPT after my graduation before switching to H1 visa. So when I apply for EAD now, should I apply as a renewal applicant or a new applicant? Is OPT the same as EAD?
thanks.
1. Write unknown
2. New applicant, if you are applying under c09 category for the first time.
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tinuverma
03-17 01:44 PM
Thanks for the response Tom. What if I want to use my EAD card and not do an H1 transfer. Is that going to be a problem?
There is no requirement for number of employees. You need to make sure the company is financially capable to do H1. You must make sure you get salary equal or above the salary offered in your LC. And also the job duties are same or similar.
There is no requirement for number of employees. You need to make sure the company is financially capable to do H1. You must make sure you get salary equal or above the salary offered in your LC. And also the job duties are same or similar.
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PavanV
04-30 10:29 AM
May be 10% might have become entrepreneurs...? Definitely not everyone has started a 10person or even 1 person company....People are doing good but they just work as programmers or so called project managers...you know its not a big deal to become a Project manager in India..
But 150K entrepreneurs...:p
The rate at which the economy in India is growing, that figure might not be incorrect. Do not underestimate what people can do, times are changing and changing fast, all i can say is, green card ke chakkar mein duniya aage nikal gayi.
But 150K entrepreneurs...:p
The rate at which the economy in India is growing, that figure might not be incorrect. Do not underestimate what people can do, times are changing and changing fast, all i can say is, green card ke chakkar mein duniya aage nikal gayi.
cjagtap
08-21 11:16 AM
throw a party now,we will definitely be there..
vin13
09-30 02:57 PM
i just called USCIS to find out when i would be recieving the mail...a very nice lady told me that it is taking 30 days for us to get the mail. Even though they say they have mailed.
She said one more thing which I am not sure how far I would beileve....she said:
"It does not matter what the visa bulletein dates show as you have already filed the applications..so all you need to look at is Processing dates."
i asked her then even if the visa bulletein dates are not current for my case then do we have any chance of getting the gc...she said yes...if yours come under the processing dates.
I am not sure what to make of this.....
She said one more thing which I am not sure how far I would beileve....she said:
"It does not matter what the visa bulletein dates show as you have already filed the applications..so all you need to look at is Processing dates."
i asked her then even if the visa bulletein dates are not current for my case then do we have any chance of getting the gc...she said yes...if yours come under the processing dates.
I am not sure what to make of this.....
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