Medical Transcription

Comments (2)

Vit in Pacific, Missouri

86 months ago

Hi,
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,
Vit.

Rachael Landes in San José, Costa Rica

83 months ago

I have just seen your comments on the internet. May I ask what company in Israel does medical transcription? I myself work in that field as a transcriptionist.

Thank you
Rachael Landes

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