acecupid
08-14 05:56 PM
Mass porting to EB2 category is the only option. I think most people with old EB3 PD can easily do it. I was reluctant initially but since there is no light at the end of the tunnel, why not take a chance while PD porting is still available. Dont get discouraged by people advising against it, since there is no hope for EB3 anyways.
wallpaper love poems and quotes for him.
smsthss
08-26 10:15 AM
Is this true? Can we include the interest paid in India's property loan in our tax returns 1040 in US? I was thinking it was not possible? Can someone confirm this..
Not sure about which bank would be good but whichever bank you choose make sure that they give you a statement of how much interest you paid over the year. Most people don't realize that you can deduct interest paid for a home loan in India is tax deductible in the US. Just FYI.
Not sure about which bank would be good but whichever bank you choose make sure that they give you a statement of how much interest you paid over the year. Most people don't realize that you can deduct interest paid for a home loan in India is tax deductible in the US. Just FYI.
jonty_11
07-23 03:30 PM
one of those who got labor approved fast from BEC...and slipped thru quickly....yes, I mean quickly even though it took 2.5 years
2011 quotes about me.
jamesbond007
09-09 01:44 PM
Gapala made some very good analysis in his posts on this thread.
But......
Looking at the country's GDP to analyze the price of land in a few cities does not make sense. The growth in land value is not across the length and breadth of the country. It is only limited to the big cities which are experiencing the money rush.
NRI's from the US are only one piece of the puzzle who are funneling in money to India.
There are NRIs from other countries.
Then there are business people making big profits dealing with other countries.
And local business people who have a lot of black money. All of them together are keeping up the prices.
There also seems to be a change in the thinking of the Indian middle class. Most of our parents' generations were in the habit of saving up money and making purchases with the saved money.(These were savings in a bank account mind you; not investments that grew at a rate better than the inflation.)
The current middle class seems to realize that trying to save money in a bank in order to buy something is foolish since the paper money is losing its value over time. So they are either investing; or making purchases with borrowed money as long as they can make the EMI payments. Overall, the current middle class is not backing out of buying what they need for lack of money. (This trend will probably lead India in the same path as the US i.e. huge debt for everyone)
Regarding the question "why would a farmer sit on land valued at $100K, while only making about $1K by farming that land?" Its only a matter of time before they realize their fool hardiness and then they will sell. Pretty soon when the construction begins in their neighbourhood, and prices of all commodities go up so much that they can't live in their $1K income, then they will be forced to sell. Or they might get the wind of a "someone they know" who sold, and they will follow their example.
Strictly speaking about Hyderabad, there are a lot of farmers who cashed out their lands in the city outskirts. Smart ones then moved out further away from the city and bought more land there to continue their farming. Others are spending their windfall on jewellery, cars and other bling.
All that being said, it is still scary to me.
In my opinion, anyone looking to make a quick buck should not get into it at this time.
If you want to buy because you want to go back and settle there in a couple of years, then that is different.
[quote] to add to the conversation on the price -> locals are also experiencing a glut of money due to the economic boom in the last 5 years or so. Small businesses have really taken off in a big way exporting to Europe/ US. Investors in the stock market have also hit the jackpot. And, once you have money, for most Indians the safest option to invest is in property or gold.
Also better salaries all around fueled by attrition of talent to the IT sector. [quote]
This may be correct to certain extent but only the elite class and creamy layer of 1.8% of total population. When we look at the bigger picture of the country, I could not connect the dots. GDP is just above $2500 and PPP is about $3300. How in the world will you justify $200,000 to $300,000. Plus the cost of financing the purchase.
In simple terms, median home price is 100 times the GDP and life expectancy in india is 70 years. average work life span is 40 years. Home Mortgages are 15, 20 or 25 years in India which will cover only 1/4th of the median price of a home based on even anticipated high GDP growth and considering moderate increase in cost of living. Given that the risk of default is huge and banks are running at very high risk. I believe buying a house is a big gamble in India and more to that for Banks, lending is also a big gamble.
Note that according to banks, investment in apartments capitalize only over 25 years in india. (Rent vs. Own) Is this correct? Average rentals in ONLY Big cities are Rs. 12000 ($275 / month $3300 a year) to 15000 ($340 / month $4000 a year) for the same 1000 sqft 2 bedroom apartments which itself is above the GDP :). What that tells me, even the rentals are also not affordable to majority of the population. Back to captalization part 4000 * 25 = 100,000. which is half of the investment... add the alternate investment value for 25 years, capitalization will be way below 50%.
That means it will take more than 50 years to capatilize the investment. This is more that Mod average work life span of 40 years. Note that Maintenance and Taxes for 25 years excluded in above calc. Are banks stupid?
I do not know what to tell ya man! To me its really scary
A small credit crunch (crisis is not required) might bring the entire economy to floor.
fine print: (Above analysis applies only for working taxpaying people like us who does not have unaccounted money.)
But......
Looking at the country's GDP to analyze the price of land in a few cities does not make sense. The growth in land value is not across the length and breadth of the country. It is only limited to the big cities which are experiencing the money rush.
NRI's from the US are only one piece of the puzzle who are funneling in money to India.
There are NRIs from other countries.
Then there are business people making big profits dealing with other countries.
And local business people who have a lot of black money. All of them together are keeping up the prices.
There also seems to be a change in the thinking of the Indian middle class. Most of our parents' generations were in the habit of saving up money and making purchases with the saved money.(These were savings in a bank account mind you; not investments that grew at a rate better than the inflation.)
The current middle class seems to realize that trying to save money in a bank in order to buy something is foolish since the paper money is losing its value over time. So they are either investing; or making purchases with borrowed money as long as they can make the EMI payments. Overall, the current middle class is not backing out of buying what they need for lack of money. (This trend will probably lead India in the same path as the US i.e. huge debt for everyone)
Regarding the question "why would a farmer sit on land valued at $100K, while only making about $1K by farming that land?" Its only a matter of time before they realize their fool hardiness and then they will sell. Pretty soon when the construction begins in their neighbourhood, and prices of all commodities go up so much that they can't live in their $1K income, then they will be forced to sell. Or they might get the wind of a "someone they know" who sold, and they will follow their example.
Strictly speaking about Hyderabad, there are a lot of farmers who cashed out their lands in the city outskirts. Smart ones then moved out further away from the city and bought more land there to continue their farming. Others are spending their windfall on jewellery, cars and other bling.
All that being said, it is still scary to me.
In my opinion, anyone looking to make a quick buck should not get into it at this time.
If you want to buy because you want to go back and settle there in a couple of years, then that is different.
[quote] to add to the conversation on the price -> locals are also experiencing a glut of money due to the economic boom in the last 5 years or so. Small businesses have really taken off in a big way exporting to Europe/ US. Investors in the stock market have also hit the jackpot. And, once you have money, for most Indians the safest option to invest is in property or gold.
Also better salaries all around fueled by attrition of talent to the IT sector. [quote]
This may be correct to certain extent but only the elite class and creamy layer of 1.8% of total population. When we look at the bigger picture of the country, I could not connect the dots. GDP is just above $2500 and PPP is about $3300. How in the world will you justify $200,000 to $300,000. Plus the cost of financing the purchase.
In simple terms, median home price is 100 times the GDP and life expectancy in india is 70 years. average work life span is 40 years. Home Mortgages are 15, 20 or 25 years in India which will cover only 1/4th of the median price of a home based on even anticipated high GDP growth and considering moderate increase in cost of living. Given that the risk of default is huge and banks are running at very high risk. I believe buying a house is a big gamble in India and more to that for Banks, lending is also a big gamble.
Note that according to banks, investment in apartments capitalize only over 25 years in india. (Rent vs. Own) Is this correct? Average rentals in ONLY Big cities are Rs. 12000 ($275 / month $3300 a year) to 15000 ($340 / month $4000 a year) for the same 1000 sqft 2 bedroom apartments which itself is above the GDP :). What that tells me, even the rentals are also not affordable to majority of the population. Back to captalization part 4000 * 25 = 100,000. which is half of the investment... add the alternate investment value for 25 years, capitalization will be way below 50%.
That means it will take more than 50 years to capatilize the investment. This is more that Mod average work life span of 40 years. Note that Maintenance and Taxes for 25 years excluded in above calc. Are banks stupid?
I do not know what to tell ya man! To me its really scary
A small credit crunch (crisis is not required) might bring the entire economy to floor.
fine print: (Above analysis applies only for working taxpaying people like us who does not have unaccounted money.)
more...
tinamatthew
07-20 09:28 PM
All are exagerated values. Unless we have the correct values, these predictions are just waste of time and mind disturbing.:(
Thank you!! That's true exagerated values. With concurrent filing you can travel in and out of the country, you can work etc. Now we are moaning that the greencard is going to take forever! Wow! Be happy with this situation (file your i-140 & i-485) and stop these pessimistic views!
Thank you!! That's true exagerated values. With concurrent filing you can travel in and out of the country, you can work etc. Now we are moaning that the greencard is going to take forever! Wow! Be happy with this situation (file your i-140 & i-485) and stop these pessimistic views!
grimus
07-20 08:23 AM
Any more news on this? anyone please.
more...
anu_t
09-13 11:33 AM
Oh. Good to know that it takes only 2 months.
Thanks for sharing the info.
Gosh.... Why people are giving Red to this poster. He is just sharing the info.
Thanks for sharing the info.
Gosh.... Why people are giving Red to this poster. He is just sharing the info.
2010 about me. funny quotes and
diptam
07-06 01:07 PM
Badluck,
Expensive or cheap - Please name him and the contact details.
May be we want to set up a small appointment with him - who knows, Thousands of possibilities.
Why aren't you giving the name & contact details ????
Thanks dude
Thats what he is saying.. he is an expensive lawyer...
and about crap---who the hell are you to decide... if you dont like then just ignore the post...
Expensive or cheap - Please name him and the contact details.
May be we want to set up a small appointment with him - who knows, Thousands of possibilities.
Why aren't you giving the name & contact details ????
Thanks dude
Thats what he is saying.. he is an expensive lawyer...
and about crap---who the hell are you to decide... if you dont like then just ignore the post...
more...
GCBy3000
06-01 05:26 PM
Until the CIR becomes law, you can still file LC and 140. So do not assume anything.
Once your labor is cleared, you can get one year extn. If possible, try to file that one year extn before this becomes a law. Still this may not solve the issue other than postponing the issue.
So basically if this becomes law..Iam screwed..I am in my 30 day waiting period to file for my Labor in Jul-07 & want to get a 7th year extention in June-08. Am I reading it right?
thx
Once your labor is cleared, you can get one year extn. If possible, try to file that one year extn before this becomes a law. Still this may not solve the issue other than postponing the issue.
So basically if this becomes law..Iam screwed..I am in my 30 day waiting period to file for my Labor in Jul-07 & want to get a 7th year extention in June-08. Am I reading it right?
thx
hair Love me.
ilwaiting
04-25 10:52 AM
Well, It might make the PD's retrogress bit further. but atleast it would give people fair treatment.
It may not help at all.
Chances are once you make the arrival date as the priority date, USCIS/DOS would set the cut-off dates to reflect the earlier PD's. For example if it is now May 2001, it could retrogress to May 1995. I don't see any gains there.
It may not help at all.
Chances are once you make the arrival date as the priority date, USCIS/DOS would set the cut-off dates to reflect the earlier PD's. For example if it is now May 2001, it could retrogress to May 1995. I don't see any gains there.
more...
yabadaba
02-28 05:38 PM
bump...so united nations may post
hot quotes on me. quotes on
anju
07-19 05:30 PM
I have a question about a unique situation of getting stuck in BEC and applying 485 with a newer PERM case. If LC is stuck in BEC at this time, but the person has a new PERM+140 from a different location and applies 485. Can this person change the priority date of 485 when the old LC from BEC gets approved, and 140 approved, to the BEC PD?
I am on the same boat. But I don't know the answer! Guys please help.
I am on the same boat. But I don't know the answer! Guys please help.
more...
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gaurav_sh2
02-24 07:39 AM
I was in same dellima couple of months before. I was working as a permanent employee in USA but company was not doing good. My PD is feb 08 in EB-2. I weighted all options and decided to move back. Tried in couple of places and within 3 months got a good offer. Now working with world top 10 employer at bangalore as a Project Manager since Nov 09.
I am happy with my decision as of now.
I suggest its not worth waiting 10 years for GC. Life is more to be lived than to wait for GC.
I am happy with my decision as of now.
I suggest its not worth waiting 10 years for GC. Life is more to be lived than to wait for GC.
tattoo quotes for me.
waitingmygc
05-18 03:44 PM
Hi ind_game, attorney and all readers,
After reading ind_game last quote "God save AC21.....". I have following questions:
1. Do you know any one (your friend, client) used AC21 and faced same problem? Es
2. Is it true that AC-21 info don't get updated in the USCIS records?
3. If yes (2 question), then x-employer I-140 revocation will ALWAYS result in THIS kind of problems (as ind-game is facing)?
4. To attorneys only: Is AC-21 really helpful or misleading? Asking because if it don't update in USCIS records.
Please reply.
thanks,
waitingmygc
After reading ind_game last quote "God save AC21.....". I have following questions:
1. Do you know any one (your friend, client) used AC21 and faced same problem? Es
2. Is it true that AC-21 info don't get updated in the USCIS records?
3. If yes (2 question), then x-employer I-140 revocation will ALWAYS result in THIS kind of problems (as ind-game is facing)?
4. To attorneys only: Is AC-21 really helpful or misleading? Asking because if it don't update in USCIS records.
Please reply.
thanks,
waitingmygc
more...
pictures quotes on me. quotes on me
satishbsk
07-13 03:08 PM
near LAX.
___________
Contributed $280 so far
___________
Contributed $280 so far
dresses Modern wisdoms
rdehar
07-20 04:10 PM
From what it looks like, I just want to say:
"Welcome to Backlog Part II."
"Welcome to Backlog Part II."
more...
makeup myspace quotes about me
Sakthisagar
08-23 09:21 AM
I wonder why can't this fools have another memo to re-capture visas for EB category. this is absolutely Might is right.. idiots. some useless idiots are there in top of USCIS they might be schools drop outs who does not think and have political support.
Only for re-capture why these **** heads needs legislaltion???
Only for re-capture why these **** heads needs legislaltion???
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eb3_nepa
07-14 01:01 PM
here is my response thru my Bank Onlie pay
Immigration Voice
Immigration Voice
$ 5.00 07/18/2008 7Y9YG-2BT90
Please Help IV to help us
Thanks
Bestofall
PD-EB2 Mar 2005 India
AP-EAD received
Thanks Bestofall. Admins/Moderators, can we have this campaign on the homepage?
Immigration Voice
Immigration Voice
$ 5.00 07/18/2008 7Y9YG-2BT90
Please Help IV to help us
Thanks
Bestofall
PD-EB2 Mar 2005 India
AP-EAD received
Thanks Bestofall. Admins/Moderators, can we have this campaign on the homepage?
hairstyles about me quotes
sparklinks
08-10 12:58 PM
no receipts for me too :( r Williams 7:55am 07/02
i m going go drinking to drown my sorrows soon.
R Williams 7:55am 07/02, NO receipt either...:confused:
i m going go drinking to drown my sorrows soon.
R Williams 7:55am 07/02, NO receipt either...:confused:
hebbar77
09-11 10:40 PM
when do we all send it? should we wait for oct 2nd?
Also is it a crime to send such letters in bulk to a govt agency?(kinda spamm?)
Also is it a crime to send such letters in bulk to a govt agency?(kinda spamm?)
makemygc
09-14 06:57 PM
For all those who have sent PM.... Please note I am not an attorney or accountant... But then I had consulted my account and few attorney's ( paid the required fees to get them answered)... So please use your own judgement/caution.
1. Yes you can open a LLC singly or jointly with your wife/friend/anyone.
2. You can start the LLC even when you are on H1B but it is better that you wait till you get your EAD to get oprationalized. reason very very conservative view is that you cannot even write a check for your company or deposit a check... but this is a very conservative view....
3. To open a LLC you can use an accountant ( if you have one, it will be cheaper by a couple of hundred dollars) or use agencies like www.legalzoom.com/legalzip/LLCs/llc_procedure.html .... I have used both in the past....
4. Intially you can just form LLC as single or joint partnership and then elect as S corporations for taxing.... I forget within which period it is to be done, if I correctly remember when you file your first tax return or within 6 months you need to elect as filing as single person entity( then it becomes like your personal income) or you could elect as S corp....
5. You will a tax id for the LLC, business license and other documents when you form a LLC, You will need to maintain book and tax records for 3 years... best to have it managed by an accountant
6. You/ your spouse can work for your LLC.... Some of you if you want to after 180 days change employers can move into your LLC and maintain that you are employed in same occupational duties for your own LLC...
Hope I have been able to answer your questions....:cool:
Thanks for sharing that with us. I'm sure IV will become a platform for aspiring entrepreneur in the long run.
1. Yes you can open a LLC singly or jointly with your wife/friend/anyone.
2. You can start the LLC even when you are on H1B but it is better that you wait till you get your EAD to get oprationalized. reason very very conservative view is that you cannot even write a check for your company or deposit a check... but this is a very conservative view....
3. To open a LLC you can use an accountant ( if you have one, it will be cheaper by a couple of hundred dollars) or use agencies like www.legalzoom.com/legalzip/LLCs/llc_procedure.html .... I have used both in the past....
4. Intially you can just form LLC as single or joint partnership and then elect as S corporations for taxing.... I forget within which period it is to be done, if I correctly remember when you file your first tax return or within 6 months you need to elect as filing as single person entity( then it becomes like your personal income) or you could elect as S corp....
5. You will a tax id for the LLC, business license and other documents when you form a LLC, You will need to maintain book and tax records for 3 years... best to have it managed by an accountant
6. You/ your spouse can work for your LLC.... Some of you if you want to after 180 days change employers can move into your LLC and maintain that you are employed in same occupational duties for your own LLC...
Hope I have been able to answer your questions....:cool:
Thanks for sharing that with us. I'm sure IV will become a platform for aspiring entrepreneur in the long run.
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