am currently on H1B and working for a company XYZ . . and we have the option of getting paid through corporate - corporate for that in mind I am planning to register an LLC on my name and do corporate - corporate ( in this case i would get more pay ) and use the business account for my expenses . . and pay the taxes individual or business accordingly . . so could you help me in this . . . . but just to let you know I will be still employed to company XYZ since I cant work directly with my company . can I use the business account for myself ? can I do that ? are there any obligations or any extra expenses like insurance/taxes or anything like that on it . . and also does it effect my visa status ? pls let me know ( just for your info I am planning to get LL registered in Delaware )
1 Answer from Attorneys
Yes sir. You can own a business in the US without endangering your H1B status. You will need to find a US tax advisor that is familiar with taxation of non-US nationals.
You can use the business account for your business expenses but it s advisable to distribute funds to yourself periodically if you need to make draws from the company to pay your personal expenses.
You may need to obtain insurance or it may be advisable to obtain insurance. It will depend on your business. What type of activity will you be engaged in?
You may need to obtain a business license in your stator local jurisdiction. It will depend on what type of business you have and where you will be operating.
I hope this is helpful.
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