Thinking of starting my own Consultancy and take side gig projects. Anyone has done this or know anyone who has? Wanted some guidance on it. I see lot of jobs asking for contract where c2c is applicable. Instead of signing up with some desi consultancy to take out a huge pay %, can't i start my own LLC and employ myself? Thanks in advance, blind. #misc #sidejob #consulting #techcareer #entrepreneurship #Facebook #Google#Amazon #Salesforce #LinkedIn #bytedance #airbnb
Interested, following. I can answer your question. Yes, you can start your own LLC and apply to the C2C jobs. You can also do so while working a 9-5 if the organization paying you isn’t a competitor to your job. Looking for more tips, information on sites with only C2C jobs, etc.
Thanks! Do you know what are the other implications? Like taxation or fees?
Not in detail. You handle your own taxes…I’m not sure about any fees. I can’t think of any fees that would directly impact you.
You can tax your LLC as an scorp and send yourself a paystub... Helps with loan apps. You can also create a solo 401k... And put in 55k to reduce tax... You can setup an accountable plan for expenses. If you make a lot, you can setup a defined benefit plan - cash balance plan and put a lot away...
Wow. Thanks for the insight. Do you have employees too? Also can i DM you?
But i already have an employer matched 401k
I think u can contribute up to 55k annually across all 401ks, check with cpa
Can I start llc in f1-opt or h1-b visa ?
Interested , following