I'm on a visa or waiting on a green card. Can I run a creator business or elect S-Corp?
Short answer
It depends on your immigration status, so talk to an immigration attorney before you take creator income or change your business structure. Some visas restrict self-employment or running a business, and an S-Corp can only be owned by U.S. citizens and residents.
Otavio Mayole, Co-founder, DeCypher FinancialsUpdated
Two separate questions:
- Immigration: what your visa allows you to do. That's a question for an immigration attorney, and we always recommend asking them first.
- Taxes: what you owe on income you earn. That's where we come in.
On the tax side:
- Your tax residency is based on its own tests, like how many days you spend in the U.S., and can differ from your immigration status.
- Income you earn is still reported, regardless of status.
- S-Corp ownership is limited to U.S. citizens and residents for tax purposes.
When a green card is pending, we can sometimes plan the timing of an S-Corp election around the approval date, so the tax savings aren't lost while you wait.
We'll never recommend a structure that puts your immigration status at risk.