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    5 Replies Latest reply on Mar 23, 2011 10:03 AM by KathleenF

    Starting a

    pintu Newbie

      Hi All

      I am new to this business areas. Currently I am working on H1B visa and I am going to start my own business. I am going to open a dance club but I am just investing money in it. My othere partners are citizens of states and they are the one who is going to work and take care of the business. I will be investing as a passive partner and hold shares of the company.

      Now, my questions are:

      1. Is it legal to invest as a passive partner in such kind of business while holding a h1b visa.

      2. How I am going to file for the tax for that?

      3. Any other thing, you can think of which I should keep in mind?


      I will really appreciate any sort of help on this.


      Thanks in advance

        • Starting a
          KathleenF Scout

          Hi pintu,


          Your best bet is to contact a corporate attorney and a tax accountant.  Those are some pretty serious questions that shouldn't be taken lightly. 


          For question #3, does your partner's in question have a business plan?  Any experience running a business?  How well do you know them and their history?



            • Re: Starting a
              LUCKIEST Guide

              Kathleen, What happened to my answer about contacting a lawyer??

                • Starting a
                  KathleenF Scout

                  Hi Luckiest,


                  We need to expand our responses a little bit; if you wouldn't mind.  Replying with one liners don't really add quality to the conversation.  You have a great wealth of knowledge that could benefit the conversations and questions being asked.  Just expand on your responses a bit and I'm sure there will be no issues with with your content.


                  Thanks for understanding!


                    • Re: Starting a
                      wordperfect Scout

                      Hi Kathleen, well, in a way I can see where you are coming from, and your comment does carry some validity.

                      However, I have serious reservations about the wisdom of editing comments on that basis.


                      Firstly, I can also see Lucky's point of view, you are relatively young to the community, and I am sure over time you will notice there is a steady stream of people who join, NEVER fill in a profile, never give any info and simply ask for help, which unsurprisingly isn't forthcoming. After that we never hear or see from them again, this forum is stacked with one post members who joined years ago.


                      So, if we are going to "censor" comments on the basis of content, maybe we need to introduce the same standard for posts, I mean, that would be in keeping with your plan of control.


                      We could, for example, insist that profiles are at least completed BEFORE posting, and then maybe some limit or threshold of positive contribution before a question can be asked.

                      Don't misunderstand, I am not siding with Lucky, he and I have crossed swords at least once before, I just have concerns when an organisation begins to censor freedom of expression, I am based in a country that already does that.


                      Secondly, we already have a list of "Community Guidelines" which cover a multitude of sins, but it seems as if you are expanding on those. Ok, I have been away for a while and may have missed it, but if we are going to alter the constitution, so to speak, shouldn't we all get some input into that?


                      I KNOW you have read them, but here again is rule #1


                      Keep it clean, keep it professional. Every post should make a positive contribution to the community and should be suitable for all users. The community is open to all points of view on the intended business-related topics; mature, polite debate is encouraged. But we will remove any post or reply that includes derogatory, abusive, offensive, obscene, violent or inappropriate content of any kind. Always interact with other users respectfully, as you would in any professional setting.


                      It is, I feel, stretching it a bit to include amount of content in that, and isn't that rather a subjective issue?

                      Who decides how much is enough, or what is too short, 20 words, 200 words?


                      As i mentioned, Lucky and I don't always see eye to eye, and that is great, it shows the forum is healthy, there have also been other instances where one members post has been criticised by another or roundly  by many of the community, it has been self regulating in the past, I for one would like to see it stay that way.  Plus there is always the "Red Fire Button" at the end if someone really feels strongly about the appropriateness of the post!


                      Then you and your team can make a value judgement depending on how many "alarm" bells are ringing.


                      Katherine, you are a very positive person usually, I have watched and read many of your posts, you are active and I know you have the best interests of the community at heart, but I have this feeling that although you may not have crossed the line, you are dangerously close to doing so. You have basically said the same as Lucky, with just a bit more padding or "fluff" really.


                      I should also like to stress to the OP, my comments are not in any way aimed  at you, I am sure your experience, however it works out, will provide you with something useful and positive to contribute to the forum in the future.


                      Well, that's just my opinion, I would love to hear feedback from Iwrite, Domain Diva, Mongose, Lighthouse, Intechspecial, The solo guide , Natonline and the other long term residents and high flyers here.


                        • Starting a
                          KathleenF Scout

                          Hi wordperfect,


                          I truely appreciate your opinion.  I'd like to clarify we never ever edit any content on this forum that has been posted by another user. Also, though I appreciate the "young" comment, I'd like to clarify that I've been apart of this community since the day it launched.  In the beginning stages I didn't participate at all.  In recent months though this has changed.  Most times, I try to stay out of conversations unless activity has been low and then if it is I try to come in ask a few questions to encourage continuation of the discussion.


                          I see your arguement when it comes to profiles but that is the users choice.  He/She can chose not to fill in their profile or supply additional contact information from the community.  Just because a user doesn't fill it in--doesn't mean we can't answer his questions.  He/She just choses to hold conversations with other community members open and in the public veruses taking it offline.  I don't really see an issue with that.  I don't understand why if a member doesn't fill in his / her profile that many seem to refrain from continuing the conversation?  While networking is great it's a person to person option.  Not one we can enforce or encourage.


                          We are a community of small business owners that are trying to find answers.  Short statements that really give no guidance doesn't encourage continued conversation.  Replying to a user saying "contact an attorney" with no explanation as to why doesn't encourage the member to ask questions.  We should be guiding other members especially if we are experienced small business owners.  And if not, those who have additional questions should be encouraged to ask. 


                          I absolutely appreciate your insight and opinions.  We have guidelines that encourage conversation and help keep the community on target.  As moderators, we will always support those efforts.