starting an LLC

[Christa G 0]

Can you start running an LLC for a small start-up business while waiting on the arrival of an EAD? I have 6 months left to wait, but have a great business opportunity that I want to at least get set up, even if it means not making an money on it just yet. Does any one have experience and guidance on starting and running an LLC while waiting on your EAD card? thank you 

[Mike E 11,723]

No.  

[Christa G 0]

1 minute ago, Mike E said:

No.  

I can't open an LLC or I can't run one? 

Can i set up the foundation for the LLC without any sales/profits/transactions taking place? 

What if I make the LLC jointly with my spouse? 

[Mike E 11,723]

20 minutes ago, Christa G said:

I can't open an LLC or I can't run one?

You can’t run one.  There is no point in setting one up if you can’t work. 

 

 

Edited August 11, 2022 by Mike E

[Ontarkie 13,915]

~~MOved to Working and Traveling, from DCF~~

[Family 3,482]

Anyone can set up an LLC ( foreign citizens, foreign companies..). Set up is easy , online , check pricing . 
After setting up LLC , get EIN aka TIN  from IRS and you are good to go. 

https://www.irs-ein-tax-id.com/?utm_source=google&utm_medium=cpc&utm_campaign=main-irs-ein-taxid&utm_term=irs ein&utm_content=b&gclid=CjwKCAjw0dKXBhBPEiwA2bmObbJLJ9PvUNwFnTB-Q1V7aUN8X8fT2TBQpOeGu1O7QmOy4qXhWa2zTBoCH5wQAvD_BwE

 

 

[arken 4,197]

5 hours ago, Christa G said:

I can't open an LLC or I can't run one? 

Can i set up the foundation for the LLC without any sales/profits/transactions taking place? 

What if I make the LLC jointly with my spouse? 

You can set up an LLC or corporation without an EAD as long as you let the others who are authorized to work manage it, you just can't work/run it until you get the EAD. Equivalent to you can own a car without a license but can't drive.

[Palawan 130]

6 hours ago, Christa G said:

Can you start running an LLC for a small start-up business while waiting on the arrival of an EAD? I have 6 months left to wait, but have a great business opportunity that I want to at least get set up, even if it means not making an money on it just yet. Does any one have experience and guidance on starting and running an LLC while waiting on your EAD card? thank you 

Yes you can set up a LLC while waiting

 

I highly suggest it, it will save you lots of money when doing taxes.  Let the business take the burnt of the taxes instead.

Edited August 11, 2022 by Palawan

[Christa G 0]

1 hour ago, arken said:

You can set up an LLC or corporation without an EAD as long as you let the others who are authorized to work manage it, you just can't work/run it until you get the EAD. Equivalent to you can own a car without a license but can't drive.

thank you for this - can I hire someone to manage it? Or is this considered working? I am worried about the definition of working? For example, setting up an LLC and hiring someone, isn't that a form of working towards your business? Also, could I start a joint LLC with my US partner? Would that alleviate the legality of it? or would that raise more concerns for the interview do you think? 

1 hour ago, Palawan said:

Yes you can set up a LLC while waiting

 

I highly suggest it, it will save you lots of money when doing taxes.  Let the business take the burnt of the taxes instead.

thank you for your reply - do you have experience with setting up an LLC prior to receiving documentation? 

[Christa G 0]

4 hours ago, Family said:

Anyone can set up an LLC ( foreign citizens, foreign companies..). Set up is easy , online , check pricing . 
After setting up LLC , get EIN aka TIN  from IRS and you are good to go. 

https://www.irs-ein-tax-id.com/?utm_source=google&utm_medium=cpc&utm_campaign=main-irs-ein-taxid&utm_term=irs ein&utm_content=b&gclid=CjwKCAjw0dKXBhBPEiwA2bmObbJLJ9PvUNwFnTB-Q1V7aUN8X8fT2TBQpOeGu1O7QmOy4qXhWa2zTBoCH5wQAvD_BwE

 

 

thank you for this - do you have personal experience setting up and LLC prior to receiving documentation? or know of someone who has? 

[arken 4,197]

38 minutes ago, Christa G said:

Also, could I start a joint LLC with my US partner? Would that alleviate the legality of it? or would that raise more concerns for the interview do you think? 

That's a good idea and let your us partner handle everything for the moment. You won't be asked about such things at the interview.

[Palawan 130]

1 hour ago, Christa G said:

 

thank you for your reply - do you have experience with setting up an LLC prior to receiving documentation? 

No, I am US Citizens

 

Mine was set up to defer IRS from collecting so much money each year, I have to file 2 federal taxes each year in March, but saves tons of money due to not getting or having to pay taxes as a self employed person.  I divert about 70% of my income to the LLC each year, per my accountant suggestions.

[Mike E 11,723]

The advice being given here is advice for tax evasion and for how to obtain taxpayer ID for someone not authorized to work.  
 

Therefore I am out of this thread.  

[Family 3,482]

2 hours ago, Christa G said:

thank you for this - do you have personal experience setting up and LLC prior to receiving documentation? or know of someone who has? 

Yes to both. There are many small and  businesses, real estate other ventures held and owned by foreigners and even undocumented immigrants …
 

A small example, of hands on is E-2 treaty investors  that go through the process of setting up LLC , procuring leases, vendor contracts and submitting all such in order to obtain the visa, there are zero questions on applicants activity to set up a business.
 

Although @Palawan ‘s statement may seem a bit rough, he is perfectly right in choosing ownership entity such as LLC that gives him more advantageous tax treatment. I cannot count how many dentists also choose the same method .

 

[Palawan 130]

28 minutes ago, Mike E said:

The advice being given here is advice for tax evasion and for how to obtain taxpayer ID for someone not authorized to work.  
 

Therefore I am out of this thread.  

You sure have no clue what you are talking about.  Set up and LLC and do a SCORP.  Watch the video and "pay attention" at the 6:00 minute mark.  Funny thing is 30% of the business income is the "reasonable salary" my CPA suggest as well.

 

https://www.youtube.com/watch?v=kwXIGryevjQ