Jump to content

3 posts in this topic

Recommended Posts

Posted

I'm not sure if I have posted in the right place. 

I am the beneficiary living in the UK and my partner is a USC (petitioner) we are currently in the process of a cr1 application. About four months in now! I know that our approval is way off, but I am starting to plan ahead and think about the future.

I have been self employed, running an online clothing business, for many years. When I get the USA I will need to work, once I have my social security number etc. 

Right now, I do all my own accounts and file my own tax return etc. 

My question being, is running a small business in the UK similar to in USA? Does anyone have any advice or had a similar experience? Can you file everything yourself and is it similar to the UK? Or is it a legal requirement to have an accountant do it for you etc? 

I'm so used to working for myself. I would hate to give it up. I hadn't really thought much about it until now! 

Thank you for any answers in advance! 

Filed: IR-1/CR-1 Visa Country: Ecuador
Timeline
Posted

Much of this depends on how large your buisness is

A consultuation fee with tax attorney could help / fee would be smaller than a full time accountant

If you want to set up as normal buisness with licence IRS allows you to deduct a room in the house to run the business plus phone,  computer,  internet, part of the house electirc bill, etc at tax time

you would also pay quarterly into IRS for withholding taxes,  medicare,  SS tax for yourself (to give you some retirement benefits later) for buisness and /or for yourself

but you do not need full time accountant for this

we had one for a year, noted how they processed all forms and did the tax return .  After the first year i handled all 

If you get a business licence it Can be very confusing as you will get  packets and packets of rules and regulations (the same they send to a huge company) but most will not apply to you 

Keep it to 1 employee (you) and things stay controllable

you are required to file taxes on the income 

Filed: AOS (apr) Country: Philippines
Timeline
Posted
12 hours ago, kris&me said:

Much of this depends on how large your buisness is

A consultuation fee with tax attorney could help / fee would be smaller than a full time accountant

If you want to set up as normal buisness with licence IRS allows you to deduct a room in the house to run the business plus phone,  computer,  internet, part of the house electirc bill, etc at tax time

you would also pay quarterly into IRS for withholding taxes,  medicare,  SS tax for yourself (to give you some retirement benefits later) for buisness and /or for yourself

but you do not need full time accountant for this

we had one for a year, noted how they processed all forms and did the tax return .  After the first year i handled all 

If you get a business licence it Can be very confusing as you will get  packets and packets of rules and regulations (the same they send to a huge company) but most will not apply to you 

Keep it to 1 employee (you) and things stay controllable

you are required to file taxes on the income 

There are small accounting firms and bookkeeping services that would be more useful and less expensive than a tax attorney

YMMV

 
Didn't find the answer you were looking for? Ask our VJ Immigration Lawyers.

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
- Back to Top -

Important Disclaimer: Please read carefully the Visajourney.com Terms of Service. If you do not agree to the Terms of Service you should not access or view any page (including this page) on VisaJourney.com. Answers and comments provided on Visajourney.com Forums are general information, and are not intended to substitute for informed professional medical, psychiatric, psychological, tax, legal, investment, accounting, or other professional advice. Visajourney.com does not endorse, and expressly disclaims liability for any product, manufacturer, distributor, service or service provider mentioned or any opinion expressed in answers or comments. VisaJourney.com does not condone immigration fraud in any way, shape or manner. VisaJourney.com recommends that if any member or user knows directly of someone involved in fraudulent or illegal activity, that they report such activity directly to the Department of Homeland Security, Immigration and Customs Enforcement. You can contact ICE via email at Immigration.Reply@dhs.gov or you can telephone ICE at 1-866-347-2423. All reported threads/posts containing reference to immigration fraud or illegal activities will be removed from this board. If you feel that you have found inappropriate content, please let us know by contacting us here with a url link to that content. Thank you.
×
×
  • Create New...