Overhaulin truck

[DJW32]

http://orangecounty.craigslist.org/car/211632256.html

$52000 Large! I dont think the truck is worth it

[TonyL]

1st. that's way too much.

2nd. I think it sucks when these guys sell the car. the only overhaulin car that should have been sold was the 1st one. the Ian Zering car. (it just wasnt at all what he wanted).

But these other guys, come on. What a huge gift to throw away.

[JoshStratton]

More than likely the people who get those cars cannot afford the taxes on them. I bet the taxes on that truck was more than what the truck was brand new.

[syborg tt]

i am going to have to agree. I just recently sold my Marlboro Syclone. All but one winner had to sell the trucks due to taxes. When you win the car you get 1099 and if they spent 60 grand on the car well you have to pay taxes on it. so if you make 50 grand a year and then get 60 added to it - now you make 110 grand. Yep you got's to give the gov his money.

[HILROD]

Yea, they tax you on what it'd cost them to build. So much for a free Overhaul. If you didn't have enough dough to fix your car, how are you going to pay all those taxes?

[BuddyP]

Like Marty said, they 1099 ya... and when you figure 25% of that 60 grand that's an extra $15 you gotta come up with at tax time. Which if fine if the vehicle is what you want and you can take the loan out for that amount or have it saved up.

I just won a $9600 snowmobile that I will be receiving in Dec. That gives me just a few months to come up with approx. $2500 that I didn't originally plan for. It's either that or sell the sled. At least it's a smaller chunk of change and I can probably deal with that.

[JoshStratton]

Congrats on the score! You could also trade it for some nice car schwag and $$

[BuddyP]

Congrats on the score! You could also trade it for some nice car schwag and $$
It deffinatly crossed my mind.... it would buy me a motor for sure!! I'll at least ride it for this season though.

[BADVELLE]

When you think about it, that would really suck if, like they portray, the car has been in the family for a long time or given as a gift or a first car, then having to sell it because you can't pay for the taxes!! I would think that the family or whoever turns the person in for the show would take that into effect, evidently not.

[colt zantop]

congrats buddy on the sled....you never told me about it! Id sell it and buy a motor... :)

[BuddyP]

congrats buddy on the sled....you never told me about it! Id sell it and buy a motor... :)
Really? I thought you knew about it, yeah I actually won it about a year ago as a '07 model, which are not yet built.

[Vegas69]

You could also lien the auto to pay the taxes.

[nekkidhillbilly]

you dont have to pay taxes on the cars if you already own them

you win one you dont own them has nothing to with overhaulin

the truck was probally wasnt very ecnomical cause he couldnt haul in it only 2 seats and is running around a lift getting 10 mpg

[JoshStratton]

you dont have to pay taxes on the cars if you already own them

you win one you dont own them has nothing to with overhaulin

the truck was probally wasnt very ecnomical cause he couldnt haul in it only 2 seats and is running around a lift getting 10 mpg

I'm not sure who you've been talking to but you have to pay taxes on any services and/or products they install, just like paying taxes on having someone professionally do your bodywork for you, or paying taxes on lottery winnings, or paying taxes on gameshow winnings...otherwise, you'd be having a little talk with the IRS and a LONG proctological instrument.

[killer69]

Youall need to come up to Canada HAHA we don't get taxed like that. if we winn 10 mil on the lottery it's all yours, of course you have to pay taxes on everything you buy with it 13% and probably 42% on any additional income that comes from being friggin loaded, but at that point WHO CARES!!!!!

[RobM]

killer69 im sure you dont mind having health care no matter what you doing either! you wouldnt believe how many people dont have health care in the US

[eville]

Maybe I'm wrong, but there is no tax on services in Calif. only on sales. So if I take my car to a shop, I pay for the products used, tax on the products used and labor. No tax on labor or service. So I would think that if I were lucky enough to have my car overhauled (like the 'vette that I just watched WOW) then there would no tax involved. Maybe sales tax on the products installed, but then why not give me a bill for all the parts too.

Again, assuming most of the products are "donated" this would be an advertising write off for the companies involved so again no taxes to the recipient.

I agree if it were not my car but a car I won in a raffel or what not, then there would be a 1099 and I'd pay some tax $.

[JoshStratton]

I dont think, and maybe I am wrong, that they consider it sales tax. I think they are considered income, just like the lottery.