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  1. #1
    Join Date
    Sep 2007
    Posts
    6

    Question Business on L2 Visa

    I am here on a L1B visa and my wife is on a L2 visa with an EAD card. I take from reading some posts that I can open a business on my name and have her work for me or even she can open a business with me as a partner .

    However my questions is for purposes of taxation , can I write off expenses or losses from this business and in turn reduce the taxable income from my monthly job. I take it that if I can do that I will have to add any profits from that business as well.

    Can we conduct this business in the US ? If not the US can we conduct this business outside of US say like a service based business ?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Business on L2 Visa

    Quote Quoting m2k
    View Post
    I take from reading some posts that I can open a business on my name and have her work for me or even she can open a business with me as a partner.
    If you're on a L2 and have EAD you can be self-employed.
    Quote Quoting m2k
    However my questions is for purposes of taxation , can I write off expenses or losses from this business and in turn reduce the taxable income from my monthly job. I take it that if I can do that I will have to add any profits from that business as well.
    If you have a business, you can write off legitimate expenses from your revenues when you file your tax return.
    Quote Quoting m2k
    Can we conduct this business in the US ? If not the US can we conduct this business outside of US say like a service based business ?
    If you own and operate a business that operates outside of the U.S., your business shouldn't affect your U.S. status. If you try playing a shell game, setting up an "overseas" business but running it as if it were a U.S. entity, I make no promises.

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