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-   -   The IRS and selling personal cars??? (https://www.yenko.net/forum/showthread.php?t=75840)

NEW 01-21-2004 07:29 PM

Re: The IRS and selling personal cars???
 
What do you mean "add 70K for Plates"? Holy Snikees!

What i mean, is that if i would like this car to have real license plates, and be able to use it daily as transportation, just as all the Volvos and Mercedes here, i would have had to pay another 470000 of my kind of money, and that would be abt. 70000 US$,

The IRS know what they want, and how to get it!

NEW

SamLBInj 01-21-2004 08:04 PM

Re: The IRS and selling personal cars???
 
[ QUOTE ]
What do you mean "add 70K for Plates"? Holy Snikees!

What i mean, is that if i would like this car to have real license plates, and be able to use it daily as transportation, just as all the Volvos and Mercedes here, i would have had to pay another 470000 of my kind of money, and that would be abt. 70000 US$,

The IRS know what they want, and how to get it!

NEW

[/ QUOTE ]
Ok, I just got a new Mercedes SL600 and it cost me 140K, How much would that same car cost you to be able to drive down the road for a gallon of milk?
Sam

Belair62 01-21-2004 08:26 PM

Re: The IRS and selling personal cars???
 
Capital gains tax is higher on short term gains...long term goes down in percentage...

SamLBInj 01-21-2004 08:31 PM

Re: The IRS and selling personal cars???
 
[ QUOTE ]
Capital gains tax is higher on short term gains...long term goes down in percentage...

[/ QUOTE ]
Tell me about it, Man did I get whacked for some day trading a few years back https://www.yenko.net/ubbthreads/images/graemlins/no.gif...Now my motto is "Long Term"
Sam

rafbody 01-21-2004 10:06 PM

Re: The IRS and selling personal cars???
 
No Mark. I have never heard from the guy.

MotownMadman 01-21-2004 11:29 PM

Re: The IRS and selling personal cars???
 
MGINLA, Well, it has been so long since I had a hobby that made money I guess I am a bit out of touch.......
Motown https://www.yenko.net/ubbthreads/imag...lins/beers.gif

MGINLA 01-22-2004 01:04 AM

Re: The IRS and selling personal cars???
 
Motown, That is a good story and you stick to it. https://www.yenko.net/ubbthreads/imag...ns/naughty.gif I myself purchased an overpriced car from a Hollywood Actor so I will not have a gain when I sell it. https://www.yenko.net/ubbthreads/imag...mlins/haha.gif

https://www.yenko.net/ubbthreads/imag...lins/beers.gif

NEW 01-22-2004 05:39 AM

Re: The IRS and selling personal cars???
 
Ok, I just got a new Mercedes SL600 and it cost me 140K, How much would that same car cost you to be able to drive down the road for a gallon of milk?
Sam


An SL600, an guesstimate is around 320000 US $...

Average salary here is 40 - 45 K US, minus what the IRS wants, that normally is around 33 - 42 % on regular wages.

NEW

SamLBInj 01-22-2004 08:34 PM

Re: The IRS and selling personal cars???
 
[ QUOTE ]
Ok, I just got a new Mercedes SL600 and it cost me 140K, How much would that same car cost you to be able to drive down the road for a gallon of milk?
Sam


An SL600, an guesstimate is around 320000 US $...

Average salary here is 40 - 45 K US, minus what the IRS wants, that normally is around 33 - 42 % on regular wages.

NEW

[/ QUOTE ]
Wow https://www.yenko.net/ubbthreads/imag...emlins/eek.gif so it has nothing to do with a car coming from America, just about how your government does business...what free services do you get, like medical, transportation, ect..I use the term "free" loosely..
Makes me proud to be an American, your making our IRS look good! https://www.yenko.net/ubbthreads/imag...mlins/flag.gif https://www.yenko.net/ubbthreads/imag...mlins/flag.gif https://www.yenko.net/ubbthreads/imag...mlins/flag.gif https://www.yenko.net/ubbthreads/imag...mlins/flag.gif
Sam


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