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Doing Business in H4

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  • sderiis
    replied
    All individual entrepreneurs must keep tax records and file tax returns that they pay to the budget. What kind of declarations you need to submit, how often and in what time frame, depends on the applicable tax regime. Payers report to the state in the form of a tax return on income tax. Every year, legal entities find more pay a percentage of their profits to the treasury on a common taxation system, not forgetting to pay advances every month or quarter.

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  • reweli
    replied
    I think you'll be able to take leave upto one month.

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  • vinaysharma77
    replied
    Business on H4

    Hello Baiju -
    Did anything work out for you in terms of starting business on H4 yet? My wife (who's on H4) wants to start a business and wanted to know nitty gritty of this. I want to make sure that it doesn't mess with my H1B status and my GC processing which is in progress.. Of-course we are going to consult a lawyer before we do anything in this regard but just wanted to have a background before we go there.

    Thanks in advance!

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  • Baiju Thomas
    replied
    how is this idea

    Originally posted by txh1b View Post
    Day trading is illegal on H1b.
    so here it is .... i m on h4 - i know i can't work. can i run L.L.C and make some one to work as partner who is citizen in U.S to run and manage business and get the profit in to my Indian account ?

    so here i will be just putting some money to start business as partnership L.L.C and once its registered - my friend will take fully and work - he will take 50 % Profit and send 50 % balance to my indian account.

    all i will do is - sit in home and listen what is going on my business.

    no work - no pain .... will this work ?

    deal is - no once cares where i m now - i may be in U.S for 6 months and 6 months in india. and rounding world.

    my friend send 50 % profit to my indian account .....will this work ? plz help

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  • prathiba
    replied
    H4 visa holder charities the business profit

    Hi all,
    I found that a H4 visa holder can start business. Before that my issue is:
    I am H4 visa holder.
    I wanu start a small business.

    what i know:
    1. Can not be an employee.
    2. Can NOT earn in any ways.
    3. H4 holder can start a business
    4. But Can NOT use profit for own use.
    5. Can Use profit for business by expenses or improvements ...
    6. But Can we use the rest of the profit for charity that too back in India.
    Yes... What are the terms and conditions ?
    Atleast we can help.

    I appreciate any advice regarding this.
    Thanks tons,
    Prathiba

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  • txh1b
    replied
    Day trading is illegal on H1b.

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  • OMM
    replied
    Originally posted by SuganyaJawaugh
    I also would like to know if I can do stock trading. If not possible, Will my husband able to do Stock Trading (day trading)? He is in H1, indeed.
    -- please read more about H1 and H4 , understand the purpose of H1 and H4. your huband or H1B holder is only intended to work for respected employer only. as per my knowladge its illegal again to do any business or trading which you mentioned...

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  • SuganyaJawaugh
    replied
    I also would like to know if I can do stock trading. If not possible, Will my husband able to do Stock Trading (day trading)? He is in H1, indeed.

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  • SuganyaJawaugh
    replied
    Thanks for all your response. Good that I came to know about this.

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  • OMM
    replied
    it's illegal...

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  • txh1b
    replied
    Ok, here is the deal. You can invest any amount of money in a business but have nothing to do with the day to day operations of the business. You can take the returns and enjoy the profits by paying necessary taxes. You cannot employ, interview, hire etc. That would mean you are working.

    You can buy stock for company X and you don't run the company, the management/CEO does it for you but can still get dividends, any profits etc after selling it. But again, you can't be a day trader.

    You cannot work on a H4 visa unless it is voluntary work and all other people doing the same kind of stuff are doing it on a voluntary basis. You can go help out in a blood drive or help in the local library but not get paid.

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  • hikes
    replied
    Sounds Funny !
    I don't think it has any substance in it.

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  • SuganyaJawaugh
    replied
    This is what I saw in one of the website. Please Advice.

    Open your own business: Yes, this is something you can do. But hey, there is a catch. You, yourself cannot get paid for working on this business. This means that, any money that the business makes, has to remain with the business. You can employ other people and pay them for the work they do, you can use the business money for re-investing or for business expenses, but you cannot use that money for your personal gain. Once you have a Green Card, you can use that money for your personal needs.

    Is this true?

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  • orion
    replied
    Plain ILLEGAL. You have to live as a complete DEPENDENT, you can't earn at all, by any means.

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  • hikes
    replied
    No never. Don't even think of doing a business and getting paid on H4.
    It is illegal and it can be tracked by the IRS.

    Leave a comment:

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