Medical Transcription

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.

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

I am an Israeli citizen that doing the exact same thing as you described with one different. I outsource the medical transcription to a different country. I think I can answer all of your questions, so you are welcome to contact me via email. Also for Rachel landes – Please send me an email since I am looking for MT's in Israel. reemlv@gmail.com