a_yaja
02-26 11:40 AM
I am reasonably knowledgable about benefit plans like 401(k) but just wanted a second opinion in the situation I decide to move perm to India.
1) Assume I have $ 100,000 in a 401K plan.
2) I terminate and roll over the funds to an IRA.
3) If I were to withdraw the funds ASAP I would face tax at a high rate as well as the 10% withdrawl penalty as I would be under 59 yrs 6 months.
4) To minimize my taxation I withdrawl a little bit every yr under the tax bracket. Say I withdraw 10K a yr for 10 yrs. Since I have no other US income I am under the tax bracket for US and dont have to pay any taxes. I do still have to pay the 10% penalty since im under 59 1/2.
5) By doing this I eventually mange to get 90K out of the 100k I start (assuming i dont take into account market earnings)
So is this doable and good logic ? Am I right or off somewhere. Would I face any taxation in India if I bring in this money on the principal ?
Also does anyone know what kind of interest rate a risk free treasury bond or instrument would pay in India ? If I bring to India an investment of aprox Rs 50 lakhs what kind of monthly income can I earn on the money assuming a secure conservative investment.
Thanks
Nozerd,
There is a provision to withdraw the 401K without the 10% penalty. To avoid the 10% penalty, there is a rule called "72(t) - Early IRA distribution". But there are certain rules that need to be followed for this - and I am not aware of how it actually works. The only reason I know this is because I asked this question specifically to the accountant doing my taxes and he said that if I were to retire early, I could avoid the 10% penalty by claiming the 72(t) clause. However, he said that certain "rules" must be followed and you must withdraw certain amount every year - else you will be subject to the 10% early withdrawal penalty.
Hope this helps. You can ask any account specialized in federal taxes and ask him/ her/ them about the 72(t) clause.
1) Assume I have $ 100,000 in a 401K plan.
2) I terminate and roll over the funds to an IRA.
3) If I were to withdraw the funds ASAP I would face tax at a high rate as well as the 10% withdrawl penalty as I would be under 59 yrs 6 months.
4) To minimize my taxation I withdrawl a little bit every yr under the tax bracket. Say I withdraw 10K a yr for 10 yrs. Since I have no other US income I am under the tax bracket for US and dont have to pay any taxes. I do still have to pay the 10% penalty since im under 59 1/2.
5) By doing this I eventually mange to get 90K out of the 100k I start (assuming i dont take into account market earnings)
So is this doable and good logic ? Am I right or off somewhere. Would I face any taxation in India if I bring in this money on the principal ?
Also does anyone know what kind of interest rate a risk free treasury bond or instrument would pay in India ? If I bring to India an investment of aprox Rs 50 lakhs what kind of monthly income can I earn on the money assuming a secure conservative investment.
Thanks
Nozerd,
There is a provision to withdraw the 401K without the 10% penalty. To avoid the 10% penalty, there is a rule called "72(t) - Early IRA distribution". But there are certain rules that need to be followed for this - and I am not aware of how it actually works. The only reason I know this is because I asked this question specifically to the accountant doing my taxes and he said that if I were to retire early, I could avoid the 10% penalty by claiming the 72(t) clause. However, he said that certain "rules" must be followed and you must withdraw certain amount every year - else you will be subject to the 10% early withdrawal penalty.
Hope this helps. You can ask any account specialized in federal taxes and ask him/ her/ them about the 72(t) clause.
wallpaper disgusting fat people
saint_2010
07-11 04:33 PM
Hello All,
Just received in mail - 2 Year EAD card for me and my wife. Valid till July 2010. I have e-filed myself for both of us. Still waiting for AP docs.
Just received in mail - 2 Year EAD card for me and my wife. Valid till July 2010. I have e-filed myself for both of us. Still waiting for AP docs.
gc_on_demand
09-19 10:54 AM
Hello All
I know this question has been asked in past so many time but I could not find. I have H1b stamp valid till Nov 1st 2008. I got my h1b ext approved till2011. I was not planing to go india this year but because of emergecny I may have to travel with in week. I will be there for 10 days only. worst case Oct 11th 2008. I am with same employer whom I was before ext. Should I go for renewal of stamp in india ? I know PIMS may hold me there for a long time.
Can I travel if visa is going to expire in 2 weeks. but having ext approved ?
Can i eligible for emergency appointment worst case ?
What if they put me on hold under PIMS ? will they hold passport ? or I can travel with old valid visa ?
Please reply urgent . My law firm has not answered my email yet and I may have to buy ticket and fly this weekend..
I know this question has been asked in past so many time but I could not find. I have H1b stamp valid till Nov 1st 2008. I got my h1b ext approved till2011. I was not planing to go india this year but because of emergecny I may have to travel with in week. I will be there for 10 days only. worst case Oct 11th 2008. I am with same employer whom I was before ext. Should I go for renewal of stamp in india ? I know PIMS may hold me there for a long time.
Can I travel if visa is going to expire in 2 weeks. but having ext approved ?
Can i eligible for emergency appointment worst case ?
What if they put me on hold under PIMS ? will they hold passport ? or I can travel with old valid visa ?
Please reply urgent . My law firm has not answered my email yet and I may have to buy ticket and fly this weekend..
2011 disgusting fat people pictures. fat people are disgusting,
sri1309
11-04 06:33 AM
All,
Please congratulate the new President. Send your messages.
Please congratulate the new President. Send your messages.
more...
visaspirant
10-22 10:40 AM
If the company has revoked the H1 prior to the start date does she still needs to apply for H1 to H4?
In her case, company has not revoked the H1 yet.
In her case, company has not revoked the H1 yet.
eb3retro
07-27 12:48 PM
Friends,
Finally my 485 is approved,
" On July 26, 2007, we mailed you a notice that we have approved this I485 APPLICATION TO REGISTER PERMANENT RESIDENCE OR TO ADJUST STATUS"
Long wait is over....
I thank IV core members and all others for their efforts and information.
Case details
EB3 - India
PD - Nov2003
RD - Aug 2004
Approved - 7/26/2007
RFE - Birth Certificate and 325, Yes replied last Sept.
wow..when did you file your I-485? cos, I am in Jan2003 and never had a chance to file 485 until now...could you elaborate???
Finally my 485 is approved,
" On July 26, 2007, we mailed you a notice that we have approved this I485 APPLICATION TO REGISTER PERMANENT RESIDENCE OR TO ADJUST STATUS"
Long wait is over....
I thank IV core members and all others for their efforts and information.
Case details
EB3 - India
PD - Nov2003
RD - Aug 2004
Approved - 7/26/2007
RFE - Birth Certificate and 325, Yes replied last Sept.
wow..when did you file your I-485? cos, I am in Jan2003 and never had a chance to file 485 until now...could you elaborate???
more...
yabadaba
07-22 08:58 AM
bump
2010 disgusting fat people pictures. Disgusting Fat People; Disgusting Fat People
rick_rajvanshi
08-29 12:56 PM
I am kind of thinking of getting a template kind of system where in members can involve and put in their thoughts and once an article ( of some interest) reaches to a final stage and gets approved by the majority it would be forwarded to the news papers / Journals.
I am not sure how much time it takes, but let me try out crystallizing the thoughts towards this end.
Would be great, if few people can join me in this endeavor. PM folks/writers who wish to involve themselves in this process.
This is a process that has to evolve and please do not have expectations as to see results right away.
However, if some one is ready to take the lead.... Please take over...
First thing we should do is to highlight our issues on our own website ( IV.org ). At this moment we are not even doing that. For example, today's "Processing date bulletin" which came out exactly 15 days late and that too with dates traveling back in time should be highlighted first on our own web site.
IV home page has not been updated for past 3 months or so.
Why not put these kind of painful headlines on our home page first big , bold highlighted ( eg "USCIS screws immigrants again with latest visa bulletin" ) and then dedicate few lines to it with proper links to last month's and current bulletin.
Now forward these links to news hungry journalist who will automatically investigate and write in their papers and journals.
Dedicate few inches of space for today's IV headlines on our home page first.
I am not sure how much time it takes, but let me try out crystallizing the thoughts towards this end.
Would be great, if few people can join me in this endeavor. PM folks/writers who wish to involve themselves in this process.
This is a process that has to evolve and please do not have expectations as to see results right away.
However, if some one is ready to take the lead.... Please take over...
First thing we should do is to highlight our issues on our own website ( IV.org ). At this moment we are not even doing that. For example, today's "Processing date bulletin" which came out exactly 15 days late and that too with dates traveling back in time should be highlighted first on our own web site.
IV home page has not been updated for past 3 months or so.
Why not put these kind of painful headlines on our home page first big , bold highlighted ( eg "USCIS screws immigrants again with latest visa bulletin" ) and then dedicate few lines to it with proper links to last month's and current bulletin.
Now forward these links to news hungry journalist who will automatically investigate and write in their papers and journals.
Dedicate few inches of space for today's IV headlines on our home page first.
more...
royus77
09-02 05:07 PM
Please stop opening new threads which are not related to immigration
hair more Fat+disgusting+people
tinuverma
10-23 07:37 PM
yeah.....Tuscon...sorry
I live in OKC...so Tulsa comes by default.
I live in OKC...so Tulsa comes by default.
more...
linuxra
09-28 08:08 PM
Any people have idea on the above rfe
hot s of Fat+disgusting+people
vvpandya
11-06 05:46 PM
I had a LUD on 10/18 and then today the online status says Document mailed to applicant..recvd date at nebraska is 7/2 and recpt date is 9/11
more...
house this guy ^ “hates fat people
ngopikrishnan
07-30 11:03 AM
I would go with the FAQ released on July 23 (since it is the latest) instead of the Direct Filing update released on June 21.
Where was your I-140 applied (if it is not concurrent with 485)?
Also, Q6 says the following:
Q6: What happens if an application is filed at the wrong Service Center?
A6. Forms I-485 should be filed at either the Texas or Nebraska Service Centers. However, through August 17, 2007 only, employment-based adjustment applications filed at the California and Vermont Service Centers will not be rejected and will be relocated to the appropriate Service Center.
Do NOT split hairs! You are okay!
P.S.: BTW, are you working for Cognizant?
Where was your I-140 applied (if it is not concurrent with 485)?
Also, Q6 says the following:
Q6: What happens if an application is filed at the wrong Service Center?
A6. Forms I-485 should be filed at either the Texas or Nebraska Service Centers. However, through August 17, 2007 only, employment-based adjustment applications filed at the California and Vermont Service Centers will not be rejected and will be relocated to the appropriate Service Center.
Do NOT split hairs! You are okay!
P.S.: BTW, are you working for Cognizant?
tattoo disgusting fat people pictures
sankap
07-20 01:47 PM
If we register our marriage in the US, say, today, wouldn't that conflict with the marriage affidavits we submitted for H4 etc? Those bear the wedding's original date.
more...
pictures so disgusting
ireddy
07-18 10:31 AM
Most of my friends (self filing) sent in their applications to reach service center by July 2, haven't received the applications back. According to the USCIS memo yesterday, the last paragraph clearly indicates that the filings received earlier will be accepted and processed... Please see portion of that note below
"USCIS�s announcement today allows anyone who was eligible to apply under Visa Bulletin No. 107 a full month�s time to do so. Applications already properly filed with USCIS will also be accepted."
"USCIS�s announcement today allows anyone who was eligible to apply under Visa Bulletin No. 107 a full month�s time to do so. Applications already properly filed with USCIS will also be accepted."
dresses disgusting fat people pictures. Photos+of+obese+people
z029556
08-14 02:34 PM
Hello Guys,
I have E-Filed for EAD renew on jne 27th and have sent all the supporting documents the following day. But on Aug 6th recieved an RFE for the photos I haven't sent along with the documents and asked me submit 2 color passport photos. It was my understading that I don't have to send the photos while E-filing since they will be taken at the bio-metric appt. I am done with my bio-metric appt. Do i need to contact USCIS about this or is there any thing you guys can suggest me.
Regards
Vijay
p.s I have already responded to the RFE with 2 color photos.
I have E-Filed for EAD renew on jne 27th and have sent all the supporting documents the following day. But on Aug 6th recieved an RFE for the photos I haven't sent along with the documents and asked me submit 2 color passport photos. It was my understading that I don't have to send the photos while E-filing since they will be taken at the bio-metric appt. I am done with my bio-metric appt. Do i need to contact USCIS about this or is there any thing you guys can suggest me.
Regards
Vijay
p.s I have already responded to the RFE with 2 color photos.
more...
makeup disgusting fat people pictures. disgusting fat people
makemygc
05-12 11:58 AM
The law in question in Arizona was SB 1070. When it passed, I was an immigrant resident of that state.
When I received my greencard two years ago, I was sent a letter from the Department of Homeland Security -- the same letter that is sent to thousands of new immigrants every week -- from which I quote:
We will soon mail you a new Permanent Resident Card... When you receive your card, you must carry it with you at all times if you are 18 older. It is the law.
Pretty clear.
..................................
Robin Koerner: A Legal Immigrant's Take on Illegal Immigration (http://www.huffingtonpost.com/robin-koerner/a-legal-immigrants-take-o_b_860273.html)
Indian immigrant with priroity date of 2008 in EB3 category and you got your green card 2 yrs back...who are you?:mad:
When I received my greencard two years ago, I was sent a letter from the Department of Homeland Security -- the same letter that is sent to thousands of new immigrants every week -- from which I quote:
We will soon mail you a new Permanent Resident Card... When you receive your card, you must carry it with you at all times if you are 18 older. It is the law.
Pretty clear.
..................................
Robin Koerner: A Legal Immigrant's Take on Illegal Immigration (http://www.huffingtonpost.com/robin-koerner/a-legal-immigrants-take-o_b_860273.html)
Indian immigrant with priroity date of 2008 in EB3 category and you got your green card 2 yrs back...who are you?:mad:
girlfriend disgusting fat people pictures
fromnaija
01-11 02:58 PM
What would happen if the labor is approved and I-140 is pending and you have to apply for your 7th/8th year extension? I think this could happen to many people who are getting yearly extensions as nowadays it is usually taking 6 months to get your H1 approval/I-140 approval.
As msp1976 pointed out above, attached your 140 receipt and ask for three year extension.
As msp1976 pointed out above, attached your 140 receipt and ask for three year extension.
hairstyles Anyway, people say damn
desi3933
06-12 04:51 PM
.......
In your situation, I would probably apply for the EAD but ask a new employer to also file for H-1B status for you (assuming you have H-1B time left)
.....
The person should be eligible for H-1B (even if 6 years are complete) as he/she has I-140 pending or approved. If I-140 is pending, then H-1B can be filed for 1 year extension, if I-140 is approved then H-1B extension can be upto 3 years.
My 2 cents.
In your situation, I would probably apply for the EAD but ask a new employer to also file for H-1B status for you (assuming you have H-1B time left)
.....
The person should be eligible for H-1B (even if 6 years are complete) as he/she has I-140 pending or approved. If I-140 is pending, then H-1B can be filed for 1 year extension, if I-140 is approved then H-1B extension can be upto 3 years.
My 2 cents.
paskal
08-23 03:41 PM
Sat 25th
IAM Independence day picnic
fun food etc and great opportunity to spread the word
Como Park East Pavillion from Noon
Sun 26th
Telegu Society annual meet
Contact libra (can pm) for details
Need volunteers to attend, we shoulbe be going in strength!
the road to your GC
goes through DC!
join us on the journey...
IAM Independence day picnic
fun food etc and great opportunity to spread the word
Como Park East Pavillion from Noon
Sun 26th
Telegu Society annual meet
Contact libra (can pm) for details
Need volunteers to attend, we shoulbe be going in strength!
the road to your GC
goes through DC!
join us on the journey...
smartboy75
08-14 02:48 PM
Another bizzare behaviour with Renewal of Efile EAD....
My 2 cents is just send them what they need....they have specifically asked us not to send photos when e-filling and now they raise an RFE coz u did not send photos...
God come down to earth and save us from this atrocity....
My 2 cents is just send them what they need....they have specifically asked us not to send photos when e-filling and now they raise an RFE coz u did not send photos...
God come down to earth and save us from this atrocity....
No comments:
Post a Comment