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  • Missouri

    I'm planning to start a Medical Transcription Business S-Corp or C-Corp(Inc company) in Saint Louis, MO. It would be a subsidiary of other Israel based company so i don't have to do to much work here (all i have to do is raise invoice at the end of the month.. kind of branch office to the main office type). Clients send their money to my a/c or office in saint louis but i have to send them back to Israel because people working their, needs to get paid. I have to do is send the money back to Israel without touching it.

    On my personal front, I have a different full time job.

    Here is the my question,

    1) Do i need to pay taxes on that money i get from clients even though i'm not using or touching the money?? (because i have to send the money to the other company).

    2) Hope you got the picture here, In this case which company would be good. I mean forming LLC would be better you think or forming Inc would be better, If so S-corp or C-Corp. I think C-Corp has double taxation issue and S-Corp has a special status in IRS.. Planning to reduce Taxes..I need to which would be a good option here and remember, I'm working full time employee with other company.

    3) I know i have to pay taxes at the end of the Year for the business(which i would start sometime) and from my job. How would i file taxes and what are the kind of taxes.. I'm looking at on my business front.

    4) Also do i need to EIN number because i wont be having any employee.

    Company Info: It's my brother's company and they make around $30K at the end of the every month and money needs to go back to Israel.

    Thanks for your time,