Legal Question in Business Law in Illinois

Starting a home business

Hi there,

Current Status in US: H1-B Visa

Nationality: Indian

Question: 1. I plan to file for Fed-ID/EIN for a small startup home business with DBA as my name and against my social. This business will essentially be software service consulting in nature. - Also given that I will be hiring an attorney or professional accounting firm for this service, will I, in anyway, be violating my terms of H1 Visa? (NOTE: I will continue to work for my current employer)

2. I understand that being on H1-B, I can only remain as a passive investor and NOT involve in any kind of active business functions - therefore I intend to hire an American to run my business and pay him/her on 1099 terms. - Is there a minimum wage that I must pay him? or is it ok if i just pay, say 20% of the profit?

3. Also I intend to employ one person in India to help the CEO over here - Is that person, legally empowered to sign papers on behalf of the business?

4. at the end of the year, Will I be entitled to the profits made by my business? or the otherway around - can I write off the losses made by the business?

5. And finally, will these things complicate my GC processing at the later date?

Thanks and will look forward for your reply.

2 Answers from Attorneys

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