NVC FILERS - FOR October - 2010

[IndigoSkies 168]

Thanks Loto hubby arrives today. I'm WFH (Queens) today will head to the airport in about 8hrs.

Well. Well. Look at you keeping all calm and collected. Good job! And good luck.

[LotofPatience 65]

Good Morning Loto n Lady,

I'm doing well, how r u guys doing today?

Lady - Congrats on your reunion today !

Let me sing "Happy Reunion" song for you

That's lovely depiction, Malvika

LD will be elated now

Loto

MB, Did you try registering with those job sites?

Loto

[Miami_Boy 9]

Good morning!!

17 kids for IS, 15 kids for Loto, 12 Kids for malvika...I would rather to have 4 wife's as religion conditions 4X4=16 for me!!! How's that??

[malvika 1]

Malvika, Did you file your taxes?

Who all did tax filing?

Loto

nope Loto, I just got my W-2 today, I'll prolly do it this weekend.

I know it might sound stupid but what are the standard deductions (I know it varies) that people usually claim on their return? Given that I'm married and don't have children. Any input?

[Miami_Boy 9]

That's lovely depiction, Malvika

LD will be elated now

Loto

MB, Did you try registering with those job sites?

Loto

Loto,

I have been surfing all those job sites. Still havent registered yet. I did apply a state job yesterday. it seems like they are hiring lots of IT postions.

Loto, if you fade up with NYC weather you may apply state job in florida. good benefit and tax exempt too.

here is the link for you:

https://jobs.myflorida.com/joblist.html?pageto-next=1&ERFormID=newjoblist&ERFormCode=7.543907376556319

[IndigoSkies 168]

Good morning!!

17 kids for IS, 15 kids for Loto, 12 Kids for malvika...I would rather to have 4 wife's as religion conditions 4X4=16 for me!!! How's that??

See that's my goal. I'm gonna push my wife on 17 kids and she's not going to agree. Naturally, I am not going to back off. The only solution left is 3 more wives. She can't say no to this impeccable logical argument.

[LotofPatience 65]

Good morning!!

17 kids for IS, 15 kids for Loto, 12 Kids for malvika...I would rather to have 4 wife's as religion conditions 4X4=16 for me!!! How's that??

Not at all bad, MB. We can form a few cricket teams then

Loto

nope Loto, I just got my W-2 today, I'll prolly do it this weekend.

I know it might sound stupid but what are the standard deductions (I know it varies) that people usually claim on their return? Given that I'm married and don't have children. Any input?

Malvika, MFJ standard deduction is $11,400 and each peron's personal exemption is $3,650 for the year 2010.

If you use online software, it will be calculated automatically for you.

Loto

[LotofPatience 65]

Loto,

I have been surfing all those job sites. Still havent registered yet. I did apply a state job yesterday. it seems like they are hiring lots of IT postions.

Loto, if you fade up with NYC weather you may apply state job in florida. good benefit and tax exempt too.

here is the link for you:

https://jobs.myflori...543907376556319

Thanks for the link, MB!

Yes, I don't like this f'ng winter now. But I don't have any plans to move out of this area in the near future

Also, we don't have long plan to be in the U.S. We'll go back to India in less than 10 years time, may be in 8 years.

Loto

[malvika 1]

Not at all bad, MB. We can form a few cricket teams then

Loto

Malvika, MFJ standard deduction is $11,400 and each peron's personal exemption is $3,650 for the year 2010.

If you use online software, it will be calculated automatically for you.

Loto

Sorry Loto I misinterpreted you, I was talking about itemized deductions like people claim for their medical exps, charity/donations, tax filling fee etc. I was just trying to make sure what else can I claim as itemized deductions in my return. Thank you sir !

[LotofPatience 65]

Sorry Loto I misinterpreted you, I was talking about itemized deductions like people claim for their medical exps, charity/donations, tax filling fee etc. I was just trying to make sure what else can I claim as itemized deductions in my return. Thank you sir !

Ok Malvi, no problem!

Itemized Deductions - Schedule A

1) Medical Expenses - Only if more than 7.5% of your AGI

2) State Tax, Real Estate tax, Motor vehicle tax etc.

3) Mortgage interest, points, PMI paid

4) Gifts to Charity

5) Casualty Theft and Losses

6) Job related expenses, if more than 2% of AGI

7) Other Miscellaneous deductions

If all the above total is more than the standard deduction, people will go for itemized deduction!

I hope it is clear now. Feel free to ask!

Loto

[malvika 1]

Ok Malvi, no problem!

Itemized Deductions - Schedule A

1) Medical Expenses - Only if more than 7.5% of your AGI

2) State Tax, Real Estate tax, Motor vehicle tax etc.

3) Mortgage interest, points, PMI paid

4) Gifts to Charity

5) Casualty Theft and Losses

6) Job related expenses, if more than 2% of AGI

7) Other Miscellaneous deductions

If all the above total is more than the standard deduction, people will go for itemized deduction!

I hope it is clear now. Feel free to ask!

Loto

Thanks Loto, it's very clear now

[LotofPatience 65]

Thanks Loto, it's very clear now

Ok Malvi

Itemized deductions make sense for people with mortgage or very high out of pocket medical expenses. Also, since itemized deductions include State withholding (not actual state tax) of the year, any state refund will be Federal taxable in the following year. State normally will send 1099-G for this next year, if there is a refund and itemized deduction is taken in the previous year. Now more and more states are providing 1099-G online in order to eliminate printing and mailing cost. NY state saved $700K for 2010 by doing this

Loto

[li-lu84 1]

I'm in the same boat. I'd rather be with my family than make a lot of money. As long as there's food on the table, and roof above the head. I don't care that I drive an '89 CIVIC. This little car still runs like a boss.

Thats AWESOME! Our car in the states is an '83 Civic - she is a machine and a half!! They rule!!!

[IndigoSkies 168]

I don't have any compassion for my Civic. I pretty much drive it like **** hoping it would break beyond repair. But no, it keeps going on. And to be honest I kind of like the manual everything. There's joy in rolling down your windows that you just don't get with pushing a button. I only had to change master cylinder once and change tires every few years. And the occasion oil change. Oh and I drove it through flood water on many occasion. It almost floated. And every time I make sharp turns, it starts flying. It's so light-weight that I need to add couple of wings and it'd be flying. I've imagined this many times while stuck on traffic.

[LotofPatience 65]

I don't have any compassion for my Civic. I pretty much drive it like **** hoping it would break beyond repair. But no, it keeps going on. And to be honest I kind of like the manual everything. There's joy in rolling down your windows that you just don't get with pushing a button. I only had to change master cylinder once and change tires every few years. And the occasion oil change. Oh and I drove it through flood water on many occasion. It almost floated. And every time I make sharp turns, it starts flying. It's so light-weight that I need to add couple of wings and it'd be flying. I've imagined this many times while stuck on traffic.

I would love to buy similar to the above depicted one!

Sounds fantastic!

Loto

I'm in the same boat. I'd rather be with my family than make a lot of money. As long as there's food on the table, and roof above the head. I don't care that I drive an '89 CIVIC. This little car still runs like a boss.

Thats AWESOME! Our car in the states is an '83 Civic - she is a machine and a half!! They rule!!!

Hey Lilu, started freaking out, huh?

2 more weeks to go!

Loto