Signing up on freelance portal and working as a home country based with home checking account as opposed to US h1b visa not allowing side income. Is this ok for under 40-50k for just one year? Have you done this before? Shall I use my brothers name etc? -_-
You can't.
Don't do this. It is illegal and will inevitably come back to bite you in the ass.
Make sure to declare this as illegal income on your taxes. Otherwise you can be charged with tax evasion.
make sure the employer is outside US and you get paid by an international account. In this sense, you are not working in US.
employer is in US paying to a legal entity offshore where I’m a shareholder (not an employee)
That doesn't make it legal. What matters is that op is in the US on H1B and can only work for the owner of the H1B while on US soil.
If you’re outside of the US - yes. Otherwise it’s illegal.