4 ms·
You obviously have more concrete experience here than I do, but my instincts say there's a vast gap between "working on a side project you hope to eventually wo
by lazerwalker 13y ago
You obviously have more concrete experience here than I do, but my instincts say there's a vast gap between "working on a side project you hope to eventually work on full-time" and "form an official registered company with the IRS".
If you go to the IRS / your state's department of commerce and say "hey, we JUST TODAY started a BRAND NEW COMPANY that happens to already have X million users and we want to incorporate", do you know if they'd snoop around and accuse you of having "started" it prior to talking to them?
- karterk 13y agoNo, the laws around H1B are pretty clear on this. You can launch something, but can never charge for it legally. So, that rules out B2B. You can of course launch a social app or something, hope that it grows like a wildfire and then try monetizing it later, but that's such a bad idea for a bootstrapper.
- oijaf888 13y agoHow does that make sense? If you create a C corp, you are under no obligation to disclose that on your personal tax returns unless a taxable transaction happens and all the money earned would be inside the C corp which is its own entity.