I got my car today
11-30-2002, 10:43 PM
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I got my car today
I got my car today (11/30/2002).
It is delivered one month early but my dealer is willing to pay the luxury tax for me and I got a E4 package promotion for free.
I am very happy -- I cannot post pictures at this moment because I have not gotten my cannon s45 yet. Anyway, it is beautiful.
By the way, anyone knows where I can sell my old car in New Jersey -- the trade in price is too low, if we cannot sell it then we are glad to donate it -- anyone knows which charity will pay the highest price for a used car. Thank you in advance.
It is delivered one month early but my dealer is willing to pay the luxury tax for me and I got a E4 package promotion for free.
I am very happy -- I cannot post pictures at this moment because I have not gotten my cannon s45 yet. Anyway, it is beautiful.
By the way, anyone knows where I can sell my old car in New Jersey -- the trade in price is too low, if we cannot sell it then we are glad to donate it -- anyone knows which charity will pay the highest price for a used car. Thank you in advance.
12-01-2002, 07:11 AM
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whiskeym3,
obviously, you haven't donated cars yet, "donate" means you get a receipt from the charity (not cash -- it is "free") and you can use this receipt for tax deduction from IRS -- why shouldn't I take my part back from IRS ? (I can use this tax benefit money for othor donations.)
otto
obviously, you haven't donated cars yet, "donate" means you get a receipt from the charity (not cash -- it is "free") and you can use this receipt for tax deduction from IRS -- why shouldn't I take my part back from IRS ? (I can use this tax benefit money for othor donations.)
otto
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12-01-2002, 10:11 PM
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Originally posted by Otto
whiskeym3,
obviously, you haven't donated cars yet, "donate" means you get a receipt from the charity (not cash -- it is "free") and you can use this receipt for tax deduction from IRS -- why shouldn't I take my part back from IRS ? (I can use this tax benefit money for othor donations.)
otto
whiskeym3,
obviously, you haven't donated cars yet, "donate" means you get a receipt from the charity (not cash -- it is "free") and you can use this receipt for tax deduction from IRS -- why shouldn't I take my part back from IRS ? (I can use this tax benefit money for othor donations.)
otto
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Whiskey
12-01-2002, 10:23 PM
#9
Otto,
How old and what type is your car that you are going to donate? Keep in mind that if you are in the highest tax bracket, this means you will get back about $0.60 for each $1.00 of value of the car. However, if it is a charity, you can probably get them to write you a receipt for more than the kbb value of the car, so you can get close to what you would have sold it for.
How old and what type is your car that you are going to donate? Keep in mind that if you are in the highest tax bracket, this means you will get back about $0.60 for each $1.00 of value of the car. However, if it is a charity, you can probably get them to write you a receipt for more than the kbb value of the car, so you can get close to what you would have sold it for.
12-01-2002, 10:36 PM
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Originally posted by abhansali
Otto,
How old and what type is your car that you are going to donate? Keep in mind that if you are in the highest tax bracket, this means you will get back about $0.60 for each $1.00 of value of the car. However, if it is a charity, you can probably get them to write you a receipt for more than the kbb value of the car, so you can get close to what you would have sold it for.
Otto,
How old and what type is your car that you are going to donate? Keep in mind that if you are in the highest tax bracket, this means you will get back about $0.60 for each $1.00 of value of the car. However, if it is a charity, you can probably get them to write you a receipt for more than the kbb value of the car, so you can get close to what you would have sold it for.
Maybe closer to $0.40 on the dollar ... unless the city plus the state tax is something like 20% in total; then, you can get back about $0.60.
12-02-2002, 08:37 AM
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thank for donation information
I think saintvir is about right -- it is close to $0.4 on $1 for a highest tax bracket (38.6%) for federal income tax plus some return from state tax.
12-02-2002, 08:48 PM
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on the last day of the month
EmMtEe,
yes, you are right ??? I think you did not read my topic carefully -- "I got my car" not "I bought my car" but you are still right because
I bought/ordered my car on 9/28/2002 (end of the month) and scheduled it to get it on 1/2/2003; however, it comes early (11/30/2002). I don't mind having a new car early as long as someone pays the luxury tax for me. (dealer pays for it because dealer wants cash now.)
by the way, I donated my old car this afternoon to Salvation Army and they will pick up my old car this Saturday (12/7/2002) -- hopefully, this old car can continue serving someone who needs it. (this deal is better than trade-in according to my tax bracket -- both Salvation Army and I are happy except IRS -- hehehe)
I like your bimmer.
Otto
yes, you are right ??? I think you did not read my topic carefully -- "I got my car" not "I bought my car" but you are still right because
I bought/ordered my car on 9/28/2002 (end of the month) and scheduled it to get it on 1/2/2003; however, it comes early (11/30/2002). I don't mind having a new car early as long as someone pays the luxury tax for me. (dealer pays for it because dealer wants cash now.)
by the way, I donated my old car this afternoon to Salvation Army and they will pick up my old car this Saturday (12/7/2002) -- hopefully, this old car can continue serving someone who needs it. (this deal is better than trade-in according to my tax bracket -- both Salvation Army and I are happy except IRS -- hehehe
)I like your bimmer.
Otto
