This Question is Answered

1 2 Previous Next
Post a new topic
15 Replies Last post: Aug 3, 2008 9:22 PM by Bridge

F-1 Student Wanting to start or found a business

Jul 28, 2008 9:26 AM

Click to view charlieshim17's profile Professional charlieshim17 6 posts since
Jul 24, 2008
I have short & simple question!

If there are legal issues I need to...

a. when I found the business while I am in school

b. if I have graduated from school....trying to found the company. what should I do to stay legally and to manage the company?

In fact, I will be graduating in May 2010 with B.S. in Finance

Help needed!!! I am open to all matters!

Thanks for stopping by at my post! Have a great day!
Report as inappropriate
Click to view LUCKIEST's profile SCORE LUCKIEST 7,926 posts since
Aug 6, 2007
1. Re: F-1 Student Wanting to start or found a business Jul 28, 2008 10:41 AM
Student Wanting to start a business

Tell us more. Take to a lawyer.

SCORE can help
Click to view nadinew's profile Professional nadinew 6 posts since
Jun 9, 2008
2. Re: F-1 Student Wanting to start or found a business Jul 29, 2008 11:55 AM
in response to: LUCKIEST
Hey Score. I am holding F-1 students Visa and I set up my own business already and I would like to know that if I open LLC company and let the company that I affiliate with pay an income directly to my LLC company is that ok for doing like this?? I am doing like an invester and I know that I am not allowed to work as an employer or make money to get an income yet but I started to do this business and I can make money but I am not sure it would be ok for my immigration status but I am trying to avoid the legal for protact my immigration status if I would change my immigration status in the future! Do you think what I am doing is it right? I had a tough time for organize everything correctly because I don't have a good idea that what I suppose to do it right and protact me from getting in trouble about immigration or business law. Do yu know how you could suggest me??

If you know about business law or have sth to suggest me please feel free to contact me at Nadinedirect@hotmail.com

Thanks

Nadine
Click to view LUCKIEST's profile SCORE LUCKIEST 7,926 posts since
Aug 6, 2007
3. Re: F-1 Student Wanting to start or found a business Jul 29, 2008 12:26 PM
in response to: nadinew

Nadine, Send me an email to odeig@juno.com

Lets talk, Include a phone number, LUCKIEST
Click to view nadinew's profile Professional nadinew 6 posts since
Jun 9, 2008
4. Re: F-1 Student Wanting to start or found a business Jul 29, 2008 6:06 PM
in response to: LUCKIEST
This is an automatically generated Delivery Status Notification.

Delivery to the following recipients failed.

odeig@juno.com
I can t send my email to yu any way here you can read it

Hi

I would like to know how to do accounting and I might need to do by myself but I want to consult with accountant about LLC company about Tax preparation and I don't know any accountant in WA but I have noted that Quickbook could help about organize expenses and book keeping right?

Please Suggest me if you know how to do all of these things

I am looking forward to hear from you soon!

Thanks


Nadine

please read more below as well!!


From: nadinedirect@hotmail.com
To: odeig@juno.com
Subject: Hi Score!
Date: Tue, 29 Jul 2008 15:53:30 -0600
Hi

I am Nadine. I am holding visitor visa for now and I am planning to applying for work permit or F1 student if work permit it won't work yet on next month so, I need to make appointment with my local immigration soon! Before that I came to the us by holding J1 (student exchange visa)for 1 year and my program will be expired on this August and in the same time I set up and started to do my own business until now I applying for visitor visa just for temporary because I need to stay hear and can not come back my country because I have my own business set up already and need to find the right form with local immigration for applying to do the business in legal. so I am having a problem about my immigration and business situation during these time within 6 months I suppose to know that what I have to do with my business and immigration in the right way. I have noted that you probably don't know about immigration law or maybe you know ..but what I want to do right now is I just set up LLC company because my business partner suggest me that I better open LLC company and do it like investment and I will be investor and I won't get in trouble if you will make money in the us even you can not do it in legal Because I am not legally eligible to work in the US and I am an alien visitor. Any way, right now I am trying to resolve the problem and find someone who can suggest me the instruction about LLC company that I just set it up for protecting myself from earning income from the company that I affiliate with Is it true that I could avoid to have a problem about making money in the US by setting up LLC company and get passive income from my YTB (Your travel biz). its kind of complicated but I hope you might understand what I am trying to explain to you. I just want tell me how should I do it right with opening LLC and put my LLC company on behalf of running my travel business not me. Do you know what I mean? like I set up LLC because I want to change from personal to a business.


1.) I have started your own home-based business. I will be the owner of your own business, under the "umbrella" that is "YTB". I own your own online travel agency for travel bookings, and I am able to share the business opportunity via "word of mouth" advertising. In other words, I am an "RTA" (referring travel agent) and a "REP" (sells travel stores).

2.) My Travel Biz is located in Wood River, Illinois by St. Louis. Our home office is based there and currently has about 400 employees working for us "out in the field." YTB will be the largest online travel company by 2010.

3.) With a home-based business, I am able to take advantage of all the tax benefits available for any home-based business, and my travel will now be tax-deductible, because I am in the travel business.

4.) I will be sharing the business opportunity with other people, and therefore, will be building an "organization" of people that will be on my team, doing the same thing. They will be selling travel, and when they share the opportunity with someone who would like their own booking engine, I will be joining them on my team.

5.) I have met the requirements as far as YTB is concerned to open my own online travel store. I have a SS#, a U.S. residence, and a local bank that I work with but I think I can not give YTB with my SSN# but before that I signed up with this business with my SSN# so, I don't want to give YTB with my SSN# and now after I set up LLC I got my own Tax ID# already but I didn't change from personal to LLC business yet. and I am waiting for YTB send me the instruction and documents that I need to changing from personal to LLC businesses.

So, Do you know the way to solve this problem? LLC can help me avoid the problem about immigration?

my cell# is 425 -372-8983

give me a call tomorrow afternoon( pacific time)

Thanks

Nadine

Click to view Bridge's profile Mogul Bridge 364 posts since
Jun 3, 2008
5. Re: F-1 Student Wanting to start or found a business Jul 30, 2008 1:15 PM
Charlie,

Where are you located and what type of business are you looking to run? Do you have any other experience/skill set besides the finance degree?

With a little more information, perhaps we could point you in the right direction.

Greg
Click to view nadinew's profile Professional nadinew 6 posts since
Jun 9, 2008
6. Re: F-1 Student Wanting to start or found a business Jul 30, 2008 1:49 PM
in response to: Bridge
Greg-

Could yu help me?

Nadine

Click to view charlieshim17's profile Professional charlieshim17 6 posts since
Jul 24, 2008
7. Re: F-1 Student Wanting to start or found a business Jul 30, 2008 6:46 PM
in response to: Bridge
Thank you , Greg to reply my question!

To your question, currently, I am located in Findlay, OH.

I am looking to run a business...

a. online retail

b. s-corporation --->don't know what i want to do (IT others)
Click to view doctaha's profile Start-up doctaha 2 posts since
Jul 30, 2008
8. Re: F-1 Student Wanting to start or found a business Jul 30, 2008 9:15 PM
in response to: charlieshim17
Hi Charlieshim17,
I am an F1 student doing B.S. Finance (class of 2010) and I am looking to start a retail business (online?) while im in school, something very similar to what you are looking into. I searched on google and I some how found your post, and it seems you've started looking into this seriously only a week ago yourself. Im not sure about the legal issues and stuff. And if you can help explain me a little about what you found out that would me great. I think we should discuss our progress since we are pretty much looking into the same thing.
Best Regards,
Click to view doctaha's profile Start-up doctaha 2 posts since
Jul 30, 2008
9. Re: F-1 Student Wanting to start or found a business Jul 30, 2008 9:20 PM
in response to: doctaha
Charlieshim17 reach me at tahanajam@gmail.com
Click to view Ramon25's profile Mogul Ramon25 26 posts since
Jul 20, 2008
10. Re: F-1 Student Wanting to start or found a business Jul 31, 2008 4:01 PM
in response to: charlieshim17
Hey Charliesshim17 so you want to run a online business on retail. well i have somthing even better you can have whole sale you get the lowest price intrested send me a message or email me at bobmarley420_@hotmail.com
Click to view Bridge's profile Mogul Bridge 364 posts since
Jun 3, 2008
11. Re: F-1 Student Wanting to start or found a business Jul 31, 2008 7:48 PM
in response to: charlieshim17
Charlie,

on-line retail is a pretty broad area!

Do you have IT/web skills?

Do you plan to use your finance degree at all?

Any sales/marketing background?

Tell us a little more.

Thanks,
Greg
Click to view Bridge's profile Mogul Bridge 364 posts since
Jun 3, 2008
12. Re: F-1 Student Wanting to start or found a business Jul 31, 2008 7:50 PM
in response to: nadinew
Nadine,

Happy to help if I can. What specifically is your question?

Your other posts were rather long and I could not tell if you were asking questions, making statements, or reposting info/emails you received.

Greg
Click to view nadinew's profile Professional nadinew 6 posts since
Jun 9, 2008
13. Re: F-1 Student Wanting to start or found a business Aug 1, 2008 4:33 PM
in response to: Bridge
Hi Greg-

thank you for your message. Yes, I will ask you more questions but do you understand what I am trying to tell your about my situation?

If yes, I will contact you via email address OK?

I just making a statement and if you understood my statement just tell me your idea or whatever you can tell me and yes I want you help me figure out what I suppose to do and you can ask more info if its needed though! I want you email me at nadinedirect@aol.com.

tell me what you know about sth like this if you could help to solve anything
or know about business solution. I just want to know about LLC company but I will ask you more question again soon.
Thanks

Naidne
Click to view charlieshim17's profile Professional charlieshim17 6 posts since
Jul 24, 2008
14. Re: F-1 Student Wanting to start or found a business Aug 3, 2008 8:45 AM
in response to: Bridge
Yes, I definetely want to use my finance degree.

I want to know what types of IT/web skills you prefer!

I have two more years till' graduation!

Whichever comes out with a great idea, I will hold that idea to develop as a business product or a brand that could help the community and to generate profits!

I'm taking a principles of management class this fall and hopefully marketing class for the next spring semester!

I appreciate your help!
1 2 Previous Next

Most Recent Forum Posts

Legend

  • Open Question
  • Answered Question
  • New content since your last visit
  • Updated content since your last visit
  • Content you have read