Have you purchased house in India?

[immihelp]

Have you purchase house or real estate in India?

If so, what was the purpose? To stay, or for investment? Or investment for now and to stay later when returning back to India?

[txh1b]

No because it is no longer affordable to NRIs

10 years ago, I was thinking let me settle down.
5 years ago, I was thinking the values were ridiculous.
2 years ago, they were costing an arm and a leg.
Now, I just don't care!

[DrPepper]

Yes, brought a house in India. I disagree with txh1b that houses in India are unaffordable for NRIs. You can easily get a plot of land for $25,000 in India (in tier III cities). Instead of buying that brand new Lexus suv, you can get a used Accord and buy that plot of land in India as an investment.

[txh1b]

And how much does it take to build a house on that plot that you purchased for $25,000 in a tier III city? Would you be able to work in a tier III city in some career that you want to?

Yes, I try to use the money I make here on the economy of this country.

With the downward trend in property values in India now, I might be able to afford it in the next few years. I am a poor immigrant still trying to settle down and dream about a 6 figure income

[DrPepper]

And how much does it take to build a house on that plot that you purchased for $25,000 in a tier III city? Would you be able to work in a tier III city in some career that you want to?

Yes, I try to use the money I make here on the economy of this country.

With the downward trend in property values in India now, I might be able to afford it in the next few years. I am a poor immigrant still trying to settle down and dream about a 6 figure income

Well, if its an investment, you don't need to build anything on it. Just buy it with cash down and sell it off when prices escalate.

Thanks for using the money you make on the US economy. Americans need more folks like you, pay 12.4% social security tax from every paycheck even though you cannot get unemployment benefits. And spend all your paycheck trying to stimulate the economy while the rest of america tries to save their money.

[txh1b]

pay 12.4% social security tax from every paycheck even though you cannot get unemployment benefits.

Very nice. I wonder why you pay double the taxes. 6.2% is what others pay. Looks like you work for a shady employer that makes you pay 12.4%, including their share.

My life does not revolve all around making and hoarding money! Sarcasm well taken!

[knowledgeable]

There is indeed ...

... a great way to avoid paying all those SS and other taxes in United States.

Guess, what?

For TXH1B, yes abaolutely, quality life is well worth the little less money you make. You never get back those days again! I am with you.

[txh1b]

Guess, what?

Take the flight back to where one came from?

[knowledgeable]

You got it!

.

[MN7]

Democracy is the real winner

Different people - different perspectives. Just imagine someone trying to express a similar opinion in a dictatorship or an authoritarian regime.
Going by the trend with 25,000 USD real soon one might be able to purchase property in a Tier IV or V US Town/Village (even). My $.02!!

[txh1b]

Just imagine someone trying to express a similar opinion in a dictatorship or an authoritarian regime.

Free speech would not exist and one who execises the right of free speech on the internet and bashes the supreme power gets bashed in jail

Thank <God> I live in a world of democracy!

[DrPepper]

Very nice. I wonder why you pay double the taxes. 6.2% is what others pay. Looks like you work for a shady employer that makes you pay 12.4%, including their share.

My life does not revolve all around making and hoarding money! Sarcasm well taken!

Here's the 2008 social security update: http://www.ssa.gov/pubs/10003.html
Employer pays 6.2% and employee pays 6.2%. The employee pay always includes the 6.2% that the employer pays (maybe as benefits). For self-employed people, it is 12.4% social security tax.

[txh1b]

Here's the 2008 social security update: http://www.ssa.gov/pubs/10003.html
Employer pays 6.2% and employee pays 6.2%. The employee pay always includes the 6.2% that the employer pays (maybe as benefits). For self-employed people, it is 12.4% social security tax.

I am well aware of who pays what for Social security. BTW, what employer pays (6.2%) is mandated by law, not a perk or additional benefit.

Care to explain what you mean by "The employee pay always includes the 6.2% that the employer pays"?

[knowledgeable]

SS or other payroll taxes ...

... paid by any employer cannot be considered a part of any benefits. These are mandated by law and employers cannot and will not consider them as benefits paid to their employees.

If this is not the case with you, then something fishy is going on with your employment.

Take care.

[immihelp]

Example:

Your salary: $1,000/month
Apart of from all other taxes, your has to deduct $74.50 from pay as payroll taxes (medicare + social security). And employer has to add another $74.50 from their own pocket and deposit the total of $149 to IRS.