longwait4gc
02-08 06:39 PM
Disclaimer - This is only based on my knowledge gathered from different forums so take it as its worth.
Depending on the timing of your return, you will get 2 or 3 years of RNOR (Returning non ordinary resident or something?). The RNOR status makes your overseas income non-taxable in India. So you can withdraw your 401K in those 3 years and pay less or no tax in US and no tax in India (on 401K withdraw). You will still have to pay a 10% penalty. This will ofcourse only work if you have low balance in 401K.
So for example, if you have a $30K in your 401K, you can withdraw $10K every year for 3 years, pay a $1K in penalty and avoid US taxes (due to exemption limits) as well as Indian taxes (due to RNOR status). But if you have a large 401K balance like 100K or something, there is no way to avoid taxes.
Hope this helps!
I agree with your research on India's tax Status. But I believe for US tax purpose we wont be Resident Alien unless we pass Substantial Presence test (unless we have a GC). We will be considered as Non Resident Aliens. The standard deduction for NRA's is 3k not 10K. Above 3K we need to pay 30% flat rate tax. If you have 30K and if you withdraw 10K per year then your tax will be paying 2100$ tax and 1000$ withdrawl penalty per year. In summary your tax rate could be upto 40%.
One other strategy is withdraw everything the leaving year and pay tax and put it in some investment like stocks, mutual funds or some savings. The gains wont be taxed in US if you are NRA (There are some exceptions like real estate stocks etc.). It won't be taxed in India due to RNOR status. So you can avoid taxes on the gain.
Disclaimer: Above is my interpretation from NRA tax law which could be wrong.
Depending on the timing of your return, you will get 2 or 3 years of RNOR (Returning non ordinary resident or something?). The RNOR status makes your overseas income non-taxable in India. So you can withdraw your 401K in those 3 years and pay less or no tax in US and no tax in India (on 401K withdraw). You will still have to pay a 10% penalty. This will ofcourse only work if you have low balance in 401K.
So for example, if you have a $30K in your 401K, you can withdraw $10K every year for 3 years, pay a $1K in penalty and avoid US taxes (due to exemption limits) as well as Indian taxes (due to RNOR status). But if you have a large 401K balance like 100K or something, there is no way to avoid taxes.
Hope this helps!
I agree with your research on India's tax Status. But I believe for US tax purpose we wont be Resident Alien unless we pass Substantial Presence test (unless we have a GC). We will be considered as Non Resident Aliens. The standard deduction for NRA's is 3k not 10K. Above 3K we need to pay 30% flat rate tax. If you have 30K and if you withdraw 10K per year then your tax will be paying 2100$ tax and 1000$ withdrawl penalty per year. In summary your tax rate could be upto 40%.
One other strategy is withdraw everything the leaving year and pay tax and put it in some investment like stocks, mutual funds or some savings. The gains wont be taxed in US if you are NRA (There are some exceptions like real estate stocks etc.). It won't be taxed in India due to RNOR status. So you can avoid taxes on the gain.
Disclaimer: Above is my interpretation from NRA tax law which could be wrong.
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gc_dream07
02-10 02:13 PM
Another big difference, which popped up lately, is getting driving license on EAD in many states. You may have to reniew the driving license every year and complexity around that.
Thanks.
Thanks.
gsc999
02-11 09:34 PM
This is a great idea!
I am sure there are some hikers, walkers, joggers and runners amongst the IV membership or people you might know otherwise. This would be a great opportunity to take brand IV in a new direction.
I will sign-up too, need to loose some weight :o
I am sure there are some hikers, walkers, joggers and runners amongst the IV membership or people you might know otherwise. This would be a great opportunity to take brand IV in a new direction.
I will sign-up too, need to loose some weight :o
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BharatPremi
11-07 01:23 PM
Hi guyz,
Bit of addtional information that might be just what was needed to make final call.
I spoke to Fragomen, my Law firm, and they informed me that priority date for filing I 45 (Green Card last stage) is current for Labor applications (EB3) filed in April 2001 and unless something dramatic happens again, things will move at its own pace.
My Labor (in EB3) was filed in March 2003. Estimated time to get GC might be anywhere between 1 year to ... who knows....
I am leaning towards resigning and start it fresh.. wherever...even If it is US fresh H1 will always be there.
Thanks for your help and advises
Regards,
Alp
What if France is at par or worst than USA for immigration/visa purposes? Your fresh start may become rotten there too.
Bit of addtional information that might be just what was needed to make final call.
I spoke to Fragomen, my Law firm, and they informed me that priority date for filing I 45 (Green Card last stage) is current for Labor applications (EB3) filed in April 2001 and unless something dramatic happens again, things will move at its own pace.
My Labor (in EB3) was filed in March 2003. Estimated time to get GC might be anywhere between 1 year to ... who knows....
I am leaning towards resigning and start it fresh.. wherever...even If it is US fresh H1 will always be there.
Thanks for your help and advises
Regards,
Alp
What if France is at par or worst than USA for immigration/visa purposes? Your fresh start may become rotten there too.
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reachinus
12-19 03:31 PM
Question 1: If they do this, what will happen to my pending I-485, EAD & AP?
Ans: I think it will be rejected, since the 140 has been revoked.
Question 2: Lawyers are saying that they have to withdraw the LC Sub based I-140 because the job descriptions are different? Is it not possible to file a totally new I-140 and keep both of them pending?
Ans: Not sure if this is ture. There are so many people who filed in EB2 as well as EB3. Hope it will and should not be a problem. If possible do stick on to the old PD since with a 2003 LC u can get the GC 2 to 3 years earlier that the 2006. Its worth taking a risk I suppose. If the company can prove Ability to pay and your qualification matches that of the LC, then it should be ok. There is no point of withdrawing the old one.
The other option is the file the new 140 and after the approval then interfile 485 with the new and then have the old one withdrawn. If you withdraw the 140 then you will have to wait for a long long time to file ur 485 with 2006pd.
This is just my opinion. Use it at your own risk.
Ans: I think it will be rejected, since the 140 has been revoked.
Question 2: Lawyers are saying that they have to withdraw the LC Sub based I-140 because the job descriptions are different? Is it not possible to file a totally new I-140 and keep both of them pending?
Ans: Not sure if this is ture. There are so many people who filed in EB2 as well as EB3. Hope it will and should not be a problem. If possible do stick on to the old PD since with a 2003 LC u can get the GC 2 to 3 years earlier that the 2006. Its worth taking a risk I suppose. If the company can prove Ability to pay and your qualification matches that of the LC, then it should be ok. There is no point of withdrawing the old one.
The other option is the file the new 140 and after the approval then interfile 485 with the new and then have the old one withdrawn. If you withdraw the 140 then you will have to wait for a long long time to file ur 485 with 2006pd.
This is just my opinion. Use it at your own risk.
ivgclive
07-08 04:35 PM
The instruction reads as
** DO NOT mail photos or copies of identification unless requested to do so by USCIS
USCIS does not mention anywhere that you either SHOULD or SHOULD NOT send photos.
So a better assumption can be "send photos".
** DO NOT mail photos or copies of identification unless requested to do so by USCIS
USCIS does not mention anywhere that you either SHOULD or SHOULD NOT send photos.
So a better assumption can be "send photos".
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gcnirvana
05-30 01:25 PM
call ur airport, I remember a friend got his I94 extended based on new I797 at the airport.
BTW- if u have an approved I797 and an expired I94, u are not out of status....when u travel next time out of country...keep current docs with u and when u reenter...the POE officer will give u i94 based on ur latest I797..
What I dont understand is when u entered US in may 06, with a I797 of 2010
, why didnt the POE officer give u i94 until 2010?
That's because my current 797 was valid till Jun 2007 and he said he can only stamp the date that is on the current 797. I guess it depends on the POE officer and in my case its unfortunate that it got messed up. Someone in the forum mentioned that he got it for 3 years. I think its very very YMMV :confused:
BTW- if u have an approved I797 and an expired I94, u are not out of status....when u travel next time out of country...keep current docs with u and when u reenter...the POE officer will give u i94 based on ur latest I797..
What I dont understand is when u entered US in may 06, with a I797 of 2010
, why didnt the POE officer give u i94 until 2010?
That's because my current 797 was valid till Jun 2007 and he said he can only stamp the date that is on the current 797. I guess it depends on the POE officer and in my case its unfortunate that it got messed up. Someone in the forum mentioned that he got it for 3 years. I think its very very YMMV :confused:
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lazycis
12-18 12:48 PM
I am little confused here, do they take into account the reciept date or Notice Date ?.
My Application was sent on July 2, and ack on July2, however the application got transferred to Nebrska, CA and back to Nebraska, and I am told the Notice Date is Aug 30. (If I go to Online website it says On Aug 30 we recd your appln like that) But I am July 2 filer.
So if I want to move, should I think i am safe after 180 days which is jan 3 or is it March ?
It's the received date as specified in the receipt (i.e. jan 3).
My Application was sent on July 2, and ack on July2, however the application got transferred to Nebrska, CA and back to Nebraska, and I am told the Notice Date is Aug 30. (If I go to Online website it says On Aug 30 we recd your appln like that) But I am July 2 filer.
So if I want to move, should I think i am safe after 180 days which is jan 3 or is it March ?
It's the received date as specified in the receipt (i.e. jan 3).
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bach007
11-19 09:24 PM
I received an RFE too in Nov 1st week. It was about the evaluation. (It was submitted earlier but still) Lawyer mailed them the required document and now the status has changed to "We received your response to the request on Nov 14th and the case processing has resumed".
How many days does it take them now to make a decision? (Btw I am EB3 and my 140 submission date was Nov 2006)
How many days does it take them now to make a decision? (Btw I am EB3 and my 140 submission date was Nov 2006)
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Jeff Wheeler
03-18 12:51 AM
I don't at all like what it implies, but "Have you?" is rather beautifully designed. Got my vote.
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eb3retro
09-24 11:39 PM
I am a july 2nd filer, NE , originally I-140 approved from NE also, just got email that my EAD card production ordered today. Earlier got the same email from my spouse too...
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webm
08-23 04:38 PM
Every 485 applicant will get FP (Biometric) notices...this is a mandatory step to get GC...
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emmie
12-09 02:28 PM
Thank you very much for the response. I actually want to put 5 years minimum experience though my lawyer said that it is too much. He would recommend either 2 year or 0 year work experience for this position with M.S. degree. Accordingly, we come down to 2 years with M.S. degree. After receiving the audit letter, my lawyer said I should have put 0 year instead of 2 years. I was also told by my lawyer to give him the answer about the following questions:
1. Why does the company require 2 years of work experience?
2. Why does the company require M.S. degree for this position?
3. Why does all skills and programs require for this position?
4. How long it take to obtain those skills and programs?
I�m very confused and have no idea what to answer why the company require M.S. degree since it is the requirement. Have anybody also have the format of the audit letter?
Also, if I have to be outside of the country by taking vacation due to this H1B issue that is going to reach the 6th year, do I have to be employed full time with the company and get pay as well? Thank you very much.
1. Why does the company require 2 years of work experience?
2. Why does the company require M.S. degree for this position?
3. Why does all skills and programs require for this position?
4. How long it take to obtain those skills and programs?
I�m very confused and have no idea what to answer why the company require M.S. degree since it is the requirement. Have anybody also have the format of the audit letter?
Also, if I have to be outside of the country by taking vacation due to this H1B issue that is going to reach the 6th year, do I have to be employed full time with the company and get pay as well? Thank you very much.
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indyanguy
07-13 03:40 PM
Where is the August Bulletin? I am just tired of refreshing the VB archive for the August Bulltin.
ya, where is it???
ya, where is it???
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gc_bulgaria
03-19 05:36 PM
The second bill (HR 5634) says that people with PhD from US universities are cap-exempt from EB. So it means some quota will be freed up from EB1 and also from Eb2-NIW.
Read all the bills. I guess you are bummer !!!!
So is this bill passes, can a person with a PhD apply for a GC without an employer (same as EB1)? I am confused...
Read all the bills. I guess you are bummer !!!!
So is this bill passes, can a person with a PhD apply for a GC without an employer (same as EB1)? I am confused...
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Prophet
05-17 07:21 PM
ive mentioned it in anovr thread but it applies here perhaps even more so...
if u can create a fairly intuitive JavaScript client update tool... will u ever need my sql or ne of that stuff? ( i mean i no its good to hav on ur resume etc but...)
im 17 and have my first "job" or request as its gonna b for free to giv me sum experience.. plus i work for them!! (part time as im in my penultimate year at school with no intentions of goin to uni)
i tell u theyr gonna be the coolest farm on the web!! lol
i thout itd b a good idea to at least get 1 example of wat i can do on the web b4 i start askin ne1 for money... just to let them no im serious uno?
Prophet.
if u can create a fairly intuitive JavaScript client update tool... will u ever need my sql or ne of that stuff? ( i mean i no its good to hav on ur resume etc but...)
im 17 and have my first "job" or request as its gonna b for free to giv me sum experience.. plus i work for them!! (part time as im in my penultimate year at school with no intentions of goin to uni)
i tell u theyr gonna be the coolest farm on the web!! lol
i thout itd b a good idea to at least get 1 example of wat i can do on the web b4 i start askin ne1 for money... just to let them no im serious uno?
Prophet.
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aadimanav
08-23 06:35 PM
What is Code 3 and Code 1 ? My Notice says Code 3
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SK2007
12-24 04:10 PM
Hi Prinive,
I too am in the same club, having a priority date of Sept 2001. I am still awaiting my I-140 approval, filed in March 2007.
Hoping things would be sorted out sooner rather than later....I am in EB-3....How about U??
I have been on H1B for 3000 days so far and I am still waiting for GC, (filed for 140/485 in November) and I thought I have been waiting for too long, but it looks like one of these people might actually qualify for Guinness Book.
I too am in the same club, having a priority date of Sept 2001. I am still awaiting my I-140 approval, filed in March 2007.
Hoping things would be sorted out sooner rather than later....I am in EB-3....How about U??
I have been on H1B for 3000 days so far and I am still waiting for GC, (filed for 140/485 in November) and I thought I have been waiting for too long, but it looks like one of these people might actually qualify for Guinness Book.
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bigboy007
11-21 01:59 AM
there is no "Permanent" Job in us, I assume you are now atleast 5 years old or having masters degree... we already have these in place...
Why a asylee or gc lottery guy should be hired before a skilled person and he is not comparing apples to apples... no country limits and elimate backlog by recap anything else is waste of time ...
Why a asylee or gc lottery guy should be hired before a skilled person and he is not comparing apples to apples... no country limits and elimate backlog by recap anything else is waste of time ...
sam_hoosier
01-25 11:29 AM
Don't u think that if X has contributed $1,000 and I have contributed $20/$0 I might be temped to rethink that I need to contribute more. It is not comparing $100 vs $200.
Think about it, any donation made by philanthropists are made public, i am not saying we are philanthropists here since we have a cause in mind. The reason is to prompt people to contribute. If this is not a key agenda IV then please ignore this post.
Your logic does not really make sense to me. If I contribute X amount, I do so because I believe in IV's cause (which is my cause too) and not because someone else has contributed Y amount.
I think we are all mature adults and not school kids, and do not require such kind of policing.
Think about it, any donation made by philanthropists are made public, i am not saying we are philanthropists here since we have a cause in mind. The reason is to prompt people to contribute. If this is not a key agenda IV then please ignore this post.
Your logic does not really make sense to me. If I contribute X amount, I do so because I believe in IV's cause (which is my cause too) and not because someone else has contributed Y amount.
I think we are all mature adults and not school kids, and do not require such kind of policing.
dwhuser
10-02 12:07 PM
Right now we don't have any savings, paid off the car as of Oct 30th. I was trying to figure about the money which we are going to save from here on...I will take all your advice, sounds so logical and keep the emergency fund for 6 months aside.
Coming to the city we live, it's a small place in Florida and not many employment opputunities for techie people. Like I said I am working for state while my spouse is consulting and travels every week (can't find a job in his area). We never imagined a management change leading to a risky and frustrating job situation, making us to repent our buying a house. Because the moment I stop impressing this new boss, we are out. Huh...I don't want to imagine that, because we will be left with a house we can't sell or rent (don't know if some one would want to rent it) and have to move.
Thanks all for your time and advice. Let's keep it coming...
Coming to the city we live, it's a small place in Florida and not many employment opputunities for techie people. Like I said I am working for state while my spouse is consulting and travels every week (can't find a job in his area). We never imagined a management change leading to a risky and frustrating job situation, making us to repent our buying a house. Because the moment I stop impressing this new boss, we are out. Huh...I don't want to imagine that, because we will be left with a house we can't sell or rent (don't know if some one would want to rent it) and have to move.
Thanks all for your time and advice. Let's keep it coming...
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