# Self-employment with H1B from employer or with green card



## eny (Jun 4, 2011)

Hi everyone,

I´m working in Northern California with an H1B visa for an employer. 
Additionally to my income, I would also like to found an import/export company and import and sell merchandise from Europe and/or South-America.

What would be the best way to do it, is it possible with H1B visa?

Would it be possible if I received the Green Card within the new DV Lottery drawing in July?

2.)
Also, a different question, does anyonone have experience with taxes and 401k plans if you are from a European country? What should I write on my W-4 form, so I don´t have to pay taxes at the end of the year?

Thanks!


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## Bevdeforges (Nov 16, 2007)

If you're working in the US, you pay taxes there. But perhaps you're referring to having enough held that you don't owe additional taxes when you file your return at the end of the year. (In the US system, you have to file a return even if your withholding is adequate to cover your tax obligation.)

Not sure what your question is about 401K plans - but normally you have the option not to participate in the plan if you feel you won't need the savings for your retirement.
Cheers,
Bev


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## eny (Jun 4, 2011)

Hi Bev,

Thanks for your answer. Yes, I am talking about the return. I don´t want to owe additonal taxes at the end of the year when I file my taxes. So I guess what I´m asking is, what number to put in the W-4 form, so the withholdings on my monthly paycheck cover the taxes.

The other think is the 401k plan. In case I go back to Europe in 3 or 6 years, will I be able to take the money out, what additional costs have to be payed, or is there a treaty agreement with Austria or Hungary regarding the payments of retirement money? I would doubt it... I would like to know how other Europeans do it with saving money for retirement, do you just save money yourself, or put it on a different account or life insurance?

Do you have any suggestions regarding opening a business here while on H1B visa?

Thanks,
Eni





Bevdeforges said:


> If you're working in the US, you pay taxes there. But perhaps you're referring to having enough held that you don't owe additional taxes when you file your return at the end of the year. (In the US system, you have to file a return even if your withholding is adequate to cover your tax obligation.)
> 
> Not sure what your question is about 401K plans - but normally you have the option not to participate in the plan if you feel you won't need the savings for your retirement.
> Cheers,
> Bev


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