gimme_GC2006
03-25 03:28 PM
ok..lets see how it goes.
I did not hire an attorney nor took a consultation..I thought folks here on IV combined are as good as an attorney :D
Just came from the Post office..sent all documents they asked for including Resume.
I dont know if my employer responded..I called them but they didn't respond..typical..huh
Lets see how it goes..
Should something bad happen (Which I dont understand why it would), you will see me in
"Alberta Welcomes H1b" thread.. :D:D:D
I did not hire an attorney nor took a consultation..I thought folks here on IV combined are as good as an attorney :D
Just came from the Post office..sent all documents they asked for including Resume.
I dont know if my employer responded..I called them but they didn't respond..typical..huh
Lets see how it goes..
Should something bad happen (Which I dont understand why it would), you will see me in
"Alberta Welcomes H1b" thread.. :D:D:D
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unitednations
03-26 09:24 PM
Thanks UN. Just a follow up question, how would you advise to cases where the labor was filed at client location and the employee shifted to another state right after the 140 approval. I guess in this case there is no chance of convincing USCIS about AC-21 invokation. How would you act if such query comes up? Or is there a chance to get this query these days at the time of 485 processing.? Thanks in advance. With this, I would have all my doubts clarified regarding the work location. And also, I hope it does to so many others.
Stating the obvious: Your attorney was a knucklehead?
USCIS hasn't gone to zero tolerance on 140/485 so it is doubtful that you will get such a query.
Are you still on H-1b?
If you want to bullet proof yourself then do an eb2 labor now; port the priority date and then inter-file the 485 or file new 485 on eb2 140 which would have been done appropriately. You can get your greencard dependency on the new 140 without losing much in terms of waiting and getting peace of mind.
Stating the obvious: Your attorney was a knucklehead?
USCIS hasn't gone to zero tolerance on 140/485 so it is doubtful that you will get such a query.
Are you still on H-1b?
If you want to bullet proof yourself then do an eb2 labor now; port the priority date and then inter-file the 485 or file new 485 on eb2 140 which would have been done appropriately. You can get your greencard dependency on the new 140 without losing much in terms of waiting and getting peace of mind.
alisa
01-01 10:46 AM
Alisa,
Look, the Pakistani military/Govt. is not capable of dealing with these 'non-state' actors. Your logic that it is going to take several years to neutralize and India has to wait for that period to pass is simply dumb.
Do you think Indian strikes on Pakistan, or a war between India and Pakistan, is going to weaken these guys, or strengthen them?
What would be dumb now?
Would you allow a thief to rob your own home over and over again? Depending on your logic, it looks like you wait for several thefts to pass before taking action against the thief.
Suppose there are theives from Bihar that come and rob you in West Bengal.
You can either send your West Bengal police into Bihar, and turn it into a rivalry between two police departments. And a rivalry between two provinces.
Or you have the two police departments work together to reduce crime rate in the future.
Look, the Pakistani military/Govt. is not capable of dealing with these 'non-state' actors. Your logic that it is going to take several years to neutralize and India has to wait for that period to pass is simply dumb.
Do you think Indian strikes on Pakistan, or a war between India and Pakistan, is going to weaken these guys, or strengthen them?
What would be dumb now?
Would you allow a thief to rob your own home over and over again? Depending on your logic, it looks like you wait for several thefts to pass before taking action against the thief.
Suppose there are theives from Bihar that come and rob you in West Bengal.
You can either send your West Bengal police into Bihar, and turn it into a rivalry between two police departments. And a rivalry between two provinces.
Or you have the two police departments work together to reduce crime rate in the future.
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amsgc
08-06 11:21 PM
.
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willIgetGC
08-12 07:51 PM
We will get GC if they Outsource these jobs to India and China, any ways these people are not working zimbly telling name checker, they dont want to yearn meney.
sledge_hammer
03-24 02:17 PM
Again, I am not the one you should be asking to define "full-time" and "temp" type jobs. Ask USCIS or DOL or whoever is going to adjudicate your green card.
I am simply saying that if USCIS has made a distinction between perm job and temp job, AND if they feel that consulting job is of temp type, someone along the line has dropped the ball and missed this. They also missed the fact that the employee needs to work at the LCA specified location. They also missed (or circumvented) that benching is not allowed.
You can blame anyone and everyone for it. Maybe the immigration attorneys were the ones that should have warned both the employers and employees that consulting jobs do not fit the H-1B requirement. Maybe USCIS was sleeping all the while and suddenly they decided to start enforcing this. But the fact that they can ALL-OF-A-SUDDEN claim that H-1B visa is for permanent jobs only, AND that employees need to stay in the LCA location means that our lawyers, employers, and employees were incompetent in their judgment and did not do their due diligence to protect against potential audits and queries.
I am telling you the same thing I told the other guy .... you don't need to give me justifications.
Just hope that USCIS will buy your story!
sledge_hammer,
Why don't you define what a "permanent" job is ?
You think FT job is a permanent job and consulting is a temporary job ? I don't think so.
There are consultants working for years in a consulting firm. ( Don't bring H1B into the picture) . There are many FT employees being laid off from companies before contractors are let go. Contractors are temporary from a client's perspective not from the sponsoring employer's perspective.
Try to define a permanent vs temporary job in US without bringing H1B into the picture.
I am simply saying that if USCIS has made a distinction between perm job and temp job, AND if they feel that consulting job is of temp type, someone along the line has dropped the ball and missed this. They also missed the fact that the employee needs to work at the LCA specified location. They also missed (or circumvented) that benching is not allowed.
You can blame anyone and everyone for it. Maybe the immigration attorneys were the ones that should have warned both the employers and employees that consulting jobs do not fit the H-1B requirement. Maybe USCIS was sleeping all the while and suddenly they decided to start enforcing this. But the fact that they can ALL-OF-A-SUDDEN claim that H-1B visa is for permanent jobs only, AND that employees need to stay in the LCA location means that our lawyers, employers, and employees were incompetent in their judgment and did not do their due diligence to protect against potential audits and queries.
I am telling you the same thing I told the other guy .... you don't need to give me justifications.
Just hope that USCIS will buy your story!
sledge_hammer,
Why don't you define what a "permanent" job is ?
You think FT job is a permanent job and consulting is a temporary job ? I don't think so.
There are consultants working for years in a consulting firm. ( Don't bring H1B into the picture) . There are many FT employees being laid off from companies before contractors are let go. Contractors are temporary from a client's perspective not from the sponsoring employer's perspective.
Try to define a permanent vs temporary job in US without bringing H1B into the picture.
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delax
07-13 09:48 PM
[QUOTE=kutra;262395]Disclaimer: I am an EB3-Indian with a PD of Oct 2003.
Delax: I agree entirely with what you are saying. Your arguments are 100% valid. The part that I don't get is why are you trying so desperately hard to convince EB3-Indians that their letter campaign lacks merit?
I am not trying to convince anybody about the merits. The original post asked for comments which I offered. PL read this post of mine
http://immigrationvoice.org/forum/showthread.php?p=262198#post262198
I am not at all surprised at the 'backlash'.
I appreciate your input and candor
Delax: I agree entirely with what you are saying. Your arguments are 100% valid. The part that I don't get is why are you trying so desperately hard to convince EB3-Indians that their letter campaign lacks merit?
I am not trying to convince anybody about the merits. The original post asked for comments which I offered. PL read this post of mine
http://immigrationvoice.org/forum/showthread.php?p=262198#post262198
I am not at all surprised at the 'backlash'.
I appreciate your input and candor
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ca_immigrant
06-23 03:48 PM
Yea your calculation is a little off. 400,000 financed @ 5% 30 year fixed is $2,148. Factor in your taxes and insurance in escrow thats a total of (approximately, im guessing for your area) $2,500 total. Plus your HOA of $250/month thats 2750 which sounds about right with gapala's calculation. Your closing costs, give or take should also be factored, approx. 10-30k.
So that comes to 33k/yoy in expenses. That may not be bad when your making six figure incomes or combined household incoming is 150K+, since 20k+ of interest is deductible yoy, but imo i wouldnt buy a 500k+ property unless there is some sort of income to bring down my monthly cost, like a rental unit.
Townhouses here in NY are very similar to condos so I'm assuming that its the same there. I personally would not pay 500k for something similar to a condo unless its in Manhattan. Just curious why not buy a house instead of a townhouse? Unless thats the norm in that area. I would prefer to take care of the house myself than pay maintenance and HoA dues. You learn a lot more and grow as a homeowner.
Sorry and thanks for the correction....I missed the closing costs...
but from what I know it is 1% of the home price ? so around $ 5000. (again not sure)
as for the calculation....I did not take into consideration the principle....as that is not an expense.....
as someone said earlier...no calculation might make sense if prices keep falling down...
As I said ...Is there risk invloved...? of course yes -;)
So that comes to 33k/yoy in expenses. That may not be bad when your making six figure incomes or combined household incoming is 150K+, since 20k+ of interest is deductible yoy, but imo i wouldnt buy a 500k+ property unless there is some sort of income to bring down my monthly cost, like a rental unit.
Townhouses here in NY are very similar to condos so I'm assuming that its the same there. I personally would not pay 500k for something similar to a condo unless its in Manhattan. Just curious why not buy a house instead of a townhouse? Unless thats the norm in that area. I would prefer to take care of the house myself than pay maintenance and HoA dues. You learn a lot more and grow as a homeowner.
Sorry and thanks for the correction....I missed the closing costs...
but from what I know it is 1% of the home price ? so around $ 5000. (again not sure)
as for the calculation....I did not take into consideration the principle....as that is not an expense.....
as someone said earlier...no calculation might make sense if prices keep falling down...
As I said ...Is there risk invloved...? of course yes -;)
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Macaca
12-30 05:50 PM
India-China relations today have to evolve in a substantially altered environment. In the current era comprehensive national power is a factor of economic growth and potential. In this China is way ahead of the rest and forging ahead rapidly. The excuse that India�s economic growth story started 13 years later and hence only two decades old and hence catch up with China soon, does not carry conviction. China has in these last three decades gone way ahead of India and the rest of the world. Today, China is four and a half times richer than India and the difference shows. Whether in domestic infrastructure, or international reach and goodwill, or in its ability to project power far from its borders, this lead is impressive. Yet, such asymmetries can be overcome through alliances and partnerships. Possibility of conflict can be reduced through developing interconnectivity and trade and commercial interdependence. In both areas substantive progress has been achieved by New Delhi.
The real truth is that India has to get its act together, not merely in catching up in GDP growth, but in translating this in to core national power that can impact on the region and the world. Present strategy then has now to be based on consolidating our immediate neighbourhood and developing selective major power relationships that will translate in time to global influence and political strength. This is the real meaning of �balance� in strategic relationships and has to be pursued with great patience and foresight, but with single minded zeal.
There are serious obstacles along the way. Our strategic culture of not looking beyond the immediate future precludes effective long term planning. Delhi has always defined its strategic interests in vague principles and ideological terms and not through practical achievable time bound objectives. This needs to change.
Beyond our neighbourhood we have to develop closer ties with major powers such as the US, Australia, Japan and Korea, key democracies with shared values. This will call for a clear break with our past practice of non-alignment and solidarity among the weak. India, as a strong power in its own right, has the responsibility to assume today the leadership of the medium powers and an alignment with the strong.
Yet, our bilateral relationship with China has to be firmly grounded in a cooperative, constructive and comprehensive relationship. That is again critically important to develop balance, particularly with China, long imbued with the sense of Middle Kingdom. Even as China begins to adjust to a reality of equal and sovereign powers, New Delhi has to exploit openings that may emerge. China�s incursion in to India�s strategic space, should be met not by lamenting over this fact, but through calm and carefully constructed counter measures in China�s periphery.
CONCLUSIONS
Many options may not indeed be feasible at the present time. For example nothing can reduce the utter dependency of Pakistan as a client state of Beijing, to which it has surrendered its sovereignty. But, this does not apply to its other neighbours, such as Myanmar, Nepal or Bangladesh or other Southeast Asian countries.
This brings us back to the larger issue of bilateral relations between India and China. Lack of knowledge of the �other� breeds mistrust and leads to fear. We need first to bridge the enormous divide and gap in mutual perceptions. This can be brought about mainly by a very much enhanced people to people contact, knowledge of each other�s cultures and history. Not just tourists and visitors, but scholars and young people must enormously increase their contacts in sports, cultural activities and through education in each other�s countries. India needs to match the capabilities of Beijing�s Confucius Centres. There is an enormous amount to learn from each other and without giving up our basic advantages of a more intimate knowledge of the global language, we can continue to enhance our knowledge of each other
Next is in the areas of trade and commerce. As China�s living standards rise the pay and perquisites of its workers will have to rise in commensurate manner to ensure social stability and its competitive manufacturing advantage will diminish. Instead of Bangladesh, Vietnam and the Philippines benefiting from this development, India is better poised to exploit this advantage. Some simple but fundamental changes to labour laws and ways of doing business in India will have to change and could make all the difference.
The final factor in achieving a balance is in the area of military capability and deterrence. It is not the most critical issue today to develop a dominance in military capability. For, force today is of diminishing value, except where it serves the purpose of deterring the intention of another to cause you harm. Therefore, an asymmetric but effective deterrence utilizing select capabilities can achieve greater dividends. Such a deterrence potential has to be developed not only in a strategic sense, but also in tactical capabilities. This will have to be in areas of advanced scientific areas; such as in space, under sea warfare capabilities, maritime surface attack, cyber defence and rapidly deployed special forces.
Indeed, India and China has lived close to each other throughout history, as different civilizations, with distinct identities and simultaneously as leading global powers. Yet, it has no history of either permanent animosity or of conflict. That is a lesson from history that we need to replicate. It may be argued that in the intensely globalizing world and diminishing distance there is today a fundamental difference. Yet, our civilizational experience has also taught us to settle our differences through carefully balancing each other�s concerns and interests and through that process ensuring a peaceful strategic environment in Asia and the world.
The real truth is that India has to get its act together, not merely in catching up in GDP growth, but in translating this in to core national power that can impact on the region and the world. Present strategy then has now to be based on consolidating our immediate neighbourhood and developing selective major power relationships that will translate in time to global influence and political strength. This is the real meaning of �balance� in strategic relationships and has to be pursued with great patience and foresight, but with single minded zeal.
There are serious obstacles along the way. Our strategic culture of not looking beyond the immediate future precludes effective long term planning. Delhi has always defined its strategic interests in vague principles and ideological terms and not through practical achievable time bound objectives. This needs to change.
Beyond our neighbourhood we have to develop closer ties with major powers such as the US, Australia, Japan and Korea, key democracies with shared values. This will call for a clear break with our past practice of non-alignment and solidarity among the weak. India, as a strong power in its own right, has the responsibility to assume today the leadership of the medium powers and an alignment with the strong.
Yet, our bilateral relationship with China has to be firmly grounded in a cooperative, constructive and comprehensive relationship. That is again critically important to develop balance, particularly with China, long imbued with the sense of Middle Kingdom. Even as China begins to adjust to a reality of equal and sovereign powers, New Delhi has to exploit openings that may emerge. China�s incursion in to India�s strategic space, should be met not by lamenting over this fact, but through calm and carefully constructed counter measures in China�s periphery.
CONCLUSIONS
Many options may not indeed be feasible at the present time. For example nothing can reduce the utter dependency of Pakistan as a client state of Beijing, to which it has surrendered its sovereignty. But, this does not apply to its other neighbours, such as Myanmar, Nepal or Bangladesh or other Southeast Asian countries.
This brings us back to the larger issue of bilateral relations between India and China. Lack of knowledge of the �other� breeds mistrust and leads to fear. We need first to bridge the enormous divide and gap in mutual perceptions. This can be brought about mainly by a very much enhanced people to people contact, knowledge of each other�s cultures and history. Not just tourists and visitors, but scholars and young people must enormously increase their contacts in sports, cultural activities and through education in each other�s countries. India needs to match the capabilities of Beijing�s Confucius Centres. There is an enormous amount to learn from each other and without giving up our basic advantages of a more intimate knowledge of the global language, we can continue to enhance our knowledge of each other
Next is in the areas of trade and commerce. As China�s living standards rise the pay and perquisites of its workers will have to rise in commensurate manner to ensure social stability and its competitive manufacturing advantage will diminish. Instead of Bangladesh, Vietnam and the Philippines benefiting from this development, India is better poised to exploit this advantage. Some simple but fundamental changes to labour laws and ways of doing business in India will have to change and could make all the difference.
The final factor in achieving a balance is in the area of military capability and deterrence. It is not the most critical issue today to develop a dominance in military capability. For, force today is of diminishing value, except where it serves the purpose of deterring the intention of another to cause you harm. Therefore, an asymmetric but effective deterrence utilizing select capabilities can achieve greater dividends. Such a deterrence potential has to be developed not only in a strategic sense, but also in tactical capabilities. This will have to be in areas of advanced scientific areas; such as in space, under sea warfare capabilities, maritime surface attack, cyber defence and rapidly deployed special forces.
Indeed, India and China has lived close to each other throughout history, as different civilizations, with distinct identities and simultaneously as leading global powers. Yet, it has no history of either permanent animosity or of conflict. That is a lesson from history that we need to replicate. It may be argued that in the intensely globalizing world and diminishing distance there is today a fundamental difference. Yet, our civilizational experience has also taught us to settle our differences through carefully balancing each other�s concerns and interests and through that process ensuring a peaceful strategic environment in Asia and the world.
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gc28262
09-26 09:41 AM
For me Obama and Mccain are equally good candidates. I would prefer Hillary Clinton over both of them.
McCain is a great guy, but he is with the wrong party. A party that aligns itself with anti-immigrants.
Now that we don't have much hopes for HR-5882, we should start targeting the CIR right now. Maybe we can talk to the Hispanic and other groups which will have an influence over CIR and have our provisions taken care of.
It will definitely be easier to tie-up with Hispanic caucus and other groups than anti-immigrants.
McCain is a great guy, but he is with the wrong party. A party that aligns itself with anti-immigrants.
Now that we don't have much hopes for HR-5882, we should start targeting the CIR right now. Maybe we can talk to the Hispanic and other groups which will have an influence over CIR and have our provisions taken care of.
It will definitely be easier to tie-up with Hispanic caucus and other groups than anti-immigrants.
more...
paskal
04-09 11:50 AM
Yes, pete, other people should have hurdles. So when they stumble on those hurdles, it would be your gain.
Its a zero sum game.
We cannot all unite and work on this issue. So let's divide ourselves. Let's split IV into 2 organization, one for EB3 dumbasses who are getting a free ride and didnt go thru the whole 9 yards , and other for smart kids like you and rimzhim.
Let me ask both of you. If you are that smart, how come you are not applying for EB1. I thought researchers would qualify for EB1. Why are you facing difficulty? Could it be that you are not really that good? Because the system does have an HOV lane for scientists to cruise to greencard. Its called EB1. And its current for most categories. What about that?
Why dont you join the fast lane of EB1 and leave the bachelor's degree losers behind who didnt thru the whole 9 yards?
given you find someone's opinion distatsteful, yours is no better. unneeded hostility and provocation help no one. please chill out. everytime something new comes up we are at each others throats. there are better ways to express yourself than personal attacks. i sympathise with your viewpoint but your attitude make me want to run far away.
Its a zero sum game.
We cannot all unite and work on this issue. So let's divide ourselves. Let's split IV into 2 organization, one for EB3 dumbasses who are getting a free ride and didnt go thru the whole 9 yards , and other for smart kids like you and rimzhim.
Let me ask both of you. If you are that smart, how come you are not applying for EB1. I thought researchers would qualify for EB1. Why are you facing difficulty? Could it be that you are not really that good? Because the system does have an HOV lane for scientists to cruise to greencard. Its called EB1. And its current for most categories. What about that?
Why dont you join the fast lane of EB1 and leave the bachelor's degree losers behind who didnt thru the whole 9 yards?
given you find someone's opinion distatsteful, yours is no better. unneeded hostility and provocation help no one. please chill out. everytime something new comes up we are at each others throats. there are better ways to express yourself than personal attacks. i sympathise with your viewpoint but your attitude make me want to run far away.
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obviously
04-10 12:41 PM
Fighting between EB categories shows how shallow our debates can turn out to be! Rhimzim & all, do the illegals differentiate between meat packers, seamstresses, window cleaners etc.? Why waste time and energy?
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tanu_75
07-28 03:09 PM
Atleast republicans listen to Microsoft, Google etc and gives some visa etc...AllObama does is warn about Indians and Chinese growth
Frankly he has a lot more serious problems to worry about than our issues. from the backlog, we are around 0.25 million and you have 300 million people in this country and 10% of them unemployed. So yeah, blame him all you want but any sane politician in his position would do the same.
Let's consider this for example. Imagine you were in India and you had a few 100,000 decently skilled immigrants from some other country, who were waiting for their green card. Now you are the PM and you have to choose your focus between fighting terrorism, fighting inflation, high budget deficits with healthcare costs, high unemployment rate or giving green cards to these 100,000 people. I would think there would be a lot of pissed off countrymen in India who would scream at you when you are ignoring real issues and focussing instead on giving green cards to foreigners especially when you already have a sky high unemployment rate. Wouldn't be a great political strategy, would it? But maybe you would still do it, perhaps if you have a vested interest in getting it done.
Still, next year you can bet that he'll do something on immigration since the states have started legislating on their own now and they can't afford this to continue.
Frankly he has a lot more serious problems to worry about than our issues. from the backlog, we are around 0.25 million and you have 300 million people in this country and 10% of them unemployed. So yeah, blame him all you want but any sane politician in his position would do the same.
Let's consider this for example. Imagine you were in India and you had a few 100,000 decently skilled immigrants from some other country, who were waiting for their green card. Now you are the PM and you have to choose your focus between fighting terrorism, fighting inflation, high budget deficits with healthcare costs, high unemployment rate or giving green cards to these 100,000 people. I would think there would be a lot of pissed off countrymen in India who would scream at you when you are ignoring real issues and focussing instead on giving green cards to foreigners especially when you already have a sky high unemployment rate. Wouldn't be a great political strategy, would it? But maybe you would still do it, perhaps if you have a vested interest in getting it done.
Still, next year you can bet that he'll do something on immigration since the states have started legislating on their own now and they can't afford this to continue.
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wizpal
06-05 05:06 PM
A very simple, dumbed down calculation to see which one trumps the other, buying or renting:
1. Home Cost: $300,000
2. Down: $ 30,000 (10% of 300k)
3. Mortgage: $270,000
4. Mortgage Interest/yr: $ 13,500 (5% of 270K)
5. Tax, Insurance, Maintenance /yr: $ 9,000 (3% of 300K)
6. Returns on Downpayment otherwise/yr: $ 3,000 (10% of 30K)
7. Rent on a similar home/yr: $ 18,000 (1.5K/month)
8. Equity/yr: $ 15,000 (5% of 300K)
9. Savings on tax deductions/yr: $ 4,050 (30% bracket, $13.5K interest)
I'll take a home appraised and bought for 300K for my example. The numbers are basically self explanatory. Contrary to popular claim among those who are pro renting, I don't think I pay more than 3% for tax, insurance and maintenance combined (item# 5). Of course, I was wise enough to buy a home in good condition. But that number will change as the home gets older. Maintenance should not include any upgrades that you do, which is basically only "gravy" and based on owner's discretion. Item# 6; I am going with the average returns if you invested in S&P 500. Item# 7; is what a similar 300K home costs to rent. Item# 8; I have only taken 5% growth which is I think under normal market conditions is the growth you would see on your home. The principal payment has not been accounted for yet. I'll do it later.
Situation Rent:
If you rent, then your expense per year is item# 7 minus item# 6 = $15,000.
Of course, your capital of $30,000 is still earning compounded returns.
Situation Own:
Your expense is item# 4 + item# 5 - item# 9 - item# 8 = $3,450.
As I mentioned in the first line, this is a dumbed down cost comparator. There are many loopholes that can be plugged. All comments are welcome.
Your analysis is so spot on except for item #8 and item # 9. I have a question though.. The example you have given suits my scenario so well. I am planning to buy a house (310k ) very soon. The loan offers I have from my lender has interest rates pretty much the same for both 10% down payment and 20% down payment, 5.0 with 20% and 5.25 with 10% down payment. I can down pay 10% right away and the other 10% is also available in a risk free(can withdraw without penalty) cd which yield me a return of 3.5% . So which is better for me 10% or 20% down pay. thanks in advance.
As for buying or renting..it is more of a personal choice - to me, buying a house has tangible benefits over renting.. like a sense of entitlement to call some place ur true home and most likely a good enviroment for raising the kids. Life has phases like education, marriage, kids, job, etc..Now that I am into my 30's, I would like to see
what it feels like to have owned a home.
1. Home Cost: $300,000
2. Down: $ 30,000 (10% of 300k)
3. Mortgage: $270,000
4. Mortgage Interest/yr: $ 13,500 (5% of 270K)
5. Tax, Insurance, Maintenance /yr: $ 9,000 (3% of 300K)
6. Returns on Downpayment otherwise/yr: $ 3,000 (10% of 30K)
7. Rent on a similar home/yr: $ 18,000 (1.5K/month)
8. Equity/yr: $ 15,000 (5% of 300K)
9. Savings on tax deductions/yr: $ 4,050 (30% bracket, $13.5K interest)
I'll take a home appraised and bought for 300K for my example. The numbers are basically self explanatory. Contrary to popular claim among those who are pro renting, I don't think I pay more than 3% for tax, insurance and maintenance combined (item# 5). Of course, I was wise enough to buy a home in good condition. But that number will change as the home gets older. Maintenance should not include any upgrades that you do, which is basically only "gravy" and based on owner's discretion. Item# 6; I am going with the average returns if you invested in S&P 500. Item# 7; is what a similar 300K home costs to rent. Item# 8; I have only taken 5% growth which is I think under normal market conditions is the growth you would see on your home. The principal payment has not been accounted for yet. I'll do it later.
Situation Rent:
If you rent, then your expense per year is item# 7 minus item# 6 = $15,000.
Of course, your capital of $30,000 is still earning compounded returns.
Situation Own:
Your expense is item# 4 + item# 5 - item# 9 - item# 8 = $3,450.
As I mentioned in the first line, this is a dumbed down cost comparator. There are many loopholes that can be plugged. All comments are welcome.
Your analysis is so spot on except for item #8 and item # 9. I have a question though.. The example you have given suits my scenario so well. I am planning to buy a house (310k ) very soon. The loan offers I have from my lender has interest rates pretty much the same for both 10% down payment and 20% down payment, 5.0 with 20% and 5.25 with 10% down payment. I can down pay 10% right away and the other 10% is also available in a risk free(can withdraw without penalty) cd which yield me a return of 3.5% . So which is better for me 10% or 20% down pay. thanks in advance.
As for buying or renting..it is more of a personal choice - to me, buying a house has tangible benefits over renting.. like a sense of entitlement to call some place ur true home and most likely a good enviroment for raising the kids. Life has phases like education, marriage, kids, job, etc..Now that I am into my 30's, I would like to see
what it feels like to have owned a home.
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Beemar
12-26 06:02 PM
I am no military expert but it seems Pak is concentrating its forces on Punjab border and POK. I wonder why India cant do something unique this time. Like use aircraft carriers to enter Pak territory from Baluchistan and hit Karachi or attack from the South from Gujarat border. Something unique other than just attacking in Punjab/POK. Ofcourse I sure am no strategist, but if someone knows please inform.
Actually the best strategy will be to build up troops in Kandahar, completely in secrecy. Afghan govt can help India if India plays some deft diplomatic moves. Then hit Quetta by launching an attack from Kandahar. Pakistanis won't even know what hit them. They will be waiting for attack to come from their eastern border.
Actually the best strategy will be to build up troops in Kandahar, completely in secrecy. Afghan govt can help India if India plays some deft diplomatic moves. Then hit Quetta by launching an attack from Kandahar. Pakistanis won't even know what hit them. They will be waiting for attack to come from their eastern border.
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rbharol
04-07 04:37 PM
Is IV core planning to get in touch with Compete america to find what they
think about this bill and what is their plan of action?
think about this bill and what is their plan of action?
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Macaca
03-06 09:00 PM
A Peek Into Corporate America (http://www.washingtonpost.com/wp-dyn/content/article/2007/03/05/AR2007030501370.html)
Not waiting for Congress to impose new disclosure laws, shareholder activists have persuaded some of the nation's largest companies to disclose their political spending on such things as issue campaigns. General Electric, Hewlett-Packard and American Electric Power recently agreed to report how much they give trade associations for politics and lobbying. Home Depot said it would report "soft money" gifts such as corporate donations to political advocacy groups.
The decision was announced by the Center for Political Accountability, Trillium Asset Management and Green Century Capital Management. The four companies join 15 other major corporations that have adopted increased transparency policies since 2005.
Separately, Aegon USA, a financial services firm, has begun to list on its campaign finance reports the events at which it gives money to politicians, a disclosure not required by law. It said its $5,000 donation to the leadership fund of Sen. Thomas R. Carper (D-Del.) was made during a "ski weekend." Anyone see a trend?
Not waiting for Congress to impose new disclosure laws, shareholder activists have persuaded some of the nation's largest companies to disclose their political spending on such things as issue campaigns. General Electric, Hewlett-Packard and American Electric Power recently agreed to report how much they give trade associations for politics and lobbying. Home Depot said it would report "soft money" gifts such as corporate donations to political advocacy groups.
The decision was announced by the Center for Political Accountability, Trillium Asset Management and Green Century Capital Management. The four companies join 15 other major corporations that have adopted increased transparency policies since 2005.
Separately, Aegon USA, a financial services firm, has begun to list on its campaign finance reports the events at which it gives money to politicians, a disclosure not required by law. It said its $5,000 donation to the leadership fund of Sen. Thomas R. Carper (D-Del.) was made during a "ski weekend." Anyone see a trend?
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shantanup
09-29 02:33 PM
By the next Presidential Election I will have mostly gotten my green card. I know I won't be eligible to vote then, but I will still be eligible to donate to the election campaigns. I have decided right now that whatever may happen I will donate to that party which makes my journey to the green card easier and faster.
I also have a plan B if I don't get my green card in next 24 months. I am a chemical engineer by education and profession with a US graduate degree in chemical engineering and more than 7 years of work experience in a premium organization in the oil, gas & chemicals industry. Everyone is more than aware how good the oil, gas & chemicals industry is doing worldwide. I very well know that I am a hot commodity in the job market in the whole world. Those who have traveled on Singapore Airlines must have seen advertisements in the Singapore airport displaying that oil and gas is their largest (next to Singapore Airlines) revenue making industry and they need qualified and experienced personnel. Job advertisements in the airport? Wow! Think why Alberta is the hottest place these days. I got an invitation from Canadian Government to apply for Canadian green card, citing my occupation. Australian Government has declared Chemical Engineering as the occupation with the highest demand in Australia due to their conventional mining and metals business and now the newly found gas reserves in north and west parts of that continent. This is my plan B. I have already secured an Australian Permanent Residency and that too in 6 months time. Hats off to the highly efficient immigration department of the Australian Government. In addition I already have 3 job offers there - one each in Brisbane, Melbourne and Perth.
I have 2 burning innovative ideas in my mind - one related to biogas and carbon credits and the other related to water desalination. I have kept both of them on hold right now until I get the US green card. I know I will work on them but not sure which country gets the benefit - USA or Australia.
Then why am I sticking around here in the US? 1. I have a US graduate degree, 2. Both my daughters are born here and are US citizens and 3. I can't deny that I have started to put down my roots here. 24 more months and will not hesitate to quit USA and settle in Australia. It will be tough, but can't help it being forced to do it.
P.S. Two of my friends with similar background as mine, have left for Australia for good in August this year. They have settled in Sydney. Another acquaintance with occupation related to oil & gas, has migrated to Perth.
I also have a plan B if I don't get my green card in next 24 months. I am a chemical engineer by education and profession with a US graduate degree in chemical engineering and more than 7 years of work experience in a premium organization in the oil, gas & chemicals industry. Everyone is more than aware how good the oil, gas & chemicals industry is doing worldwide. I very well know that I am a hot commodity in the job market in the whole world. Those who have traveled on Singapore Airlines must have seen advertisements in the Singapore airport displaying that oil and gas is their largest (next to Singapore Airlines) revenue making industry and they need qualified and experienced personnel. Job advertisements in the airport? Wow! Think why Alberta is the hottest place these days. I got an invitation from Canadian Government to apply for Canadian green card, citing my occupation. Australian Government has declared Chemical Engineering as the occupation with the highest demand in Australia due to their conventional mining and metals business and now the newly found gas reserves in north and west parts of that continent. This is my plan B. I have already secured an Australian Permanent Residency and that too in 6 months time. Hats off to the highly efficient immigration department of the Australian Government. In addition I already have 3 job offers there - one each in Brisbane, Melbourne and Perth.
I have 2 burning innovative ideas in my mind - one related to biogas and carbon credits and the other related to water desalination. I have kept both of them on hold right now until I get the US green card. I know I will work on them but not sure which country gets the benefit - USA or Australia.
Then why am I sticking around here in the US? 1. I have a US graduate degree, 2. Both my daughters are born here and are US citizens and 3. I can't deny that I have started to put down my roots here. 24 more months and will not hesitate to quit USA and settle in Australia. It will be tough, but can't help it being forced to do it.
P.S. Two of my friends with similar background as mine, have left for Australia for good in August this year. They have settled in Sydney. Another acquaintance with occupation related to oil & gas, has migrated to Perth.
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dixie
02-02 01:17 PM
You seriously think Lou does not know that ? I would expect a former anchor of CNN Money to know the basics of US tax laws. Alas, he also knows the average americans who view his show are too lazy to do any research by themselves - all this is a deliberate misinformation campaign to make the middle class angry and believe immigrants are responsible for their perceived decline in standard of living. In the process his ratings are going through the roof, and of course CNN doesn't have a problem with that. What to expect from such a person ? We are lucky he is yet to blame immigrants for the mess in Iraq (he has even blamed them for the mess after hurricane katrina !!!!!).
this info is for lou dobbs and he can search for this information in Wikipedia, the free encyclopedia (for all the middle-class that can get free information, most likey coded by an H1B)
[edit] Taxation status of H-1B workers
H-1B workers are legally required to pay the same taxes as any other US resident, including Social Security and Medicare.[2] Any person who spends more than 183 days in the US in a calendar year is a tax resident and is required to pay US taxes on their worldwide income. From the IRS perspective, it doesn't matter if that income is paid in the US or elsewhere. If an H-1B worker is given a living allowance, it is treated the same by the IRS as any other US resident. In some cases, H-1B workers pay higher taxes than a US citizen because they are not entitled to certain deductions (eg. head of household deduction amongst many others). Some H-1B workers are not eligible to receive any Social Security or Medicare benefits unless they are able to adjust status to that of permanent resident.[3] However, if their country of citizenship has a tax agreement with the United States, they are able to collect the Social Security they've earned even if they don't gain permanent residency there. Such agreements are negotiated between the United States and other countries, typically those which have comparable standards of living and public retirement systems
this info is for lou dobbs and he can search for this information in Wikipedia, the free encyclopedia (for all the middle-class that can get free information, most likey coded by an H1B)
[edit] Taxation status of H-1B workers
H-1B workers are legally required to pay the same taxes as any other US resident, including Social Security and Medicare.[2] Any person who spends more than 183 days in the US in a calendar year is a tax resident and is required to pay US taxes on their worldwide income. From the IRS perspective, it doesn't matter if that income is paid in the US or elsewhere. If an H-1B worker is given a living allowance, it is treated the same by the IRS as any other US resident. In some cases, H-1B workers pay higher taxes than a US citizen because they are not entitled to certain deductions (eg. head of household deduction amongst many others). Some H-1B workers are not eligible to receive any Social Security or Medicare benefits unless they are able to adjust status to that of permanent resident.[3] However, if their country of citizenship has a tax agreement with the United States, they are able to collect the Social Security they've earned even if they don't gain permanent residency there. Such agreements are negotiated between the United States and other countries, typically those which have comparable standards of living and public retirement systems
StuckInTheMuck
08-05 02:10 PM
A man goes skydiving. After a fantastic free fall he pulls the rip cord to open his parachute but nothing happens. He tries everything but can't get it open.
Just then another man flies by him, going UP. The skydiver yells, "Hey, you know anything about parachutes?" The man replies, "No, you know anything about gas stoves?"
Just then another man flies by him, going UP. The skydiver yells, "Hey, you know anything about parachutes?" The man replies, "No, you know anything about gas stoves?"
unitednations
07-08 04:47 PM
thanks UN..
we don't mean to bug you..!!
but sometimes these r so scary..it feels we r better off being illegal in this country..
all this is just plain BS..when we r paying so much in taxes and SS in this country..we r still chopped and diced like vegetables ...
btw..on the same note since you r here..does the 'out of status' count only after the last entry in to thr country..or it is still scrutinised right from the time you land into the US..
pls post..
Unlawful presence; overstaying i-94 card and not filing a timely extension before expiry of non immigrant status. Very serious issue; especially if someone overstays y more then six months.
Out of status; legally here (unexpired I-94 card) but not complying with terms and conditions of the I-94 card.
In both situations; everything is wiped out upon exit and re-entry. However; if someone has unlawful presence of more then six months then it is fatal if you leave as the 3 and 10 year bars apply to re-entry.
we don't mean to bug you..!!
but sometimes these r so scary..it feels we r better off being illegal in this country..
all this is just plain BS..when we r paying so much in taxes and SS in this country..we r still chopped and diced like vegetables ...
btw..on the same note since you r here..does the 'out of status' count only after the last entry in to thr country..or it is still scrutinised right from the time you land into the US..
pls post..
Unlawful presence; overstaying i-94 card and not filing a timely extension before expiry of non immigrant status. Very serious issue; especially if someone overstays y more then six months.
Out of status; legally here (unexpired I-94 card) but not complying with terms and conditions of the I-94 card.
In both situations; everything is wiped out upon exit and re-entry. However; if someone has unlawful presence of more then six months then it is fatal if you leave as the 3 and 10 year bars apply to re-entry.
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