Four of us are trying to open up a restaurant, 1 GC, 3 H1B. From reading other blogs, it looks like we can do it as long as the H1B's are passive investors and dont work for the company, and the GC can be Manager/Owner. And it seems like we can share profits as dividends as well. From the sources I've been reading, C-Corp or LLC seems like the right business to open. But then other blogs say H1b's can only have C-Corps, which I believe is more difficult to set up.
Has anyone done this before?
Which is better C-Corp or LLC.(LLC -C corp?)
How do you claim profits, and file taxes?
any help is appreciated.
Thanks.