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E90/E91/E92/E93 (2006 - 2013)
The E9X is the 4th evolution of the BMW 3 series including a highly tuned twin turbo 335i variant pushing out 300hp and 300 ft. lbs. of torque. BMW continues to show that it sets the bar for true driving performance! -- View the E9X Wiki

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  #2726  
Old 12-20-2011, 10:35 AM
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furby076 furby076 is offline
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Kind of hard to send something to someone who is never at home.
Marriott Airport - Columbus Ohio

Oh wait, were you confused between that and my OTHER home?
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I agree with furby
Quote:
Originally Posted by guerilla twang View Post
Hahahaha, I like you furb, you like to live dangerously.
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I started to google to find a picture to match furby's suggestion to Gia, but it quickly became clear it was an inappropriate search to conduct at work.
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  #2727  
Old 12-20-2011, 11:20 AM
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DSXMachina DSXMachina is offline
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Originally Posted by boltjaM3s View Post
What an embarrassment this thread and this forum have turned into.

Good job.

BJ
BoltjaM3s...we used to know someone by that name. He and his wit disappeared into the Jersey swamps a year ago.
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  #2728  
Old 12-20-2011, 01:26 PM
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BoltjaM3s...we used to know someone by that name. He and his wit disappeared into the Jersey swamps a year ago.
"Jersey swamps"? Isn't that a pleonasm? Like "free gifts"
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Quote:
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I agree with furby
Quote:
Originally Posted by guerilla twang View Post
Hahahaha, I like you furb, you like to live dangerously.
Quote:
Originally Posted by ProfessorCook View Post
I started to google to find a picture to match furby's suggestion to Gia, but it quickly became clear it was an inappropriate search to conduct at work.
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  #2729  
Old 12-20-2011, 02:34 PM
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Driving to California for Christmas. Anyone else have exciting plans?
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In the words of one of Bimmerfest's greatest minds:"Been there, done that"
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Half the fun of succeeding in life is fighting the fight and making it.
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  #2730  
Old 12-20-2011, 02:35 PM
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cwinter cwinter is offline
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DSX, what have we got us here in your profile picture? Is this grand child number....? Congrats!
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You will rue this day, RUE THIS DAY
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  #2731  
Old 12-20-2011, 02:41 PM
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BoltjaM3s...we used to know someone by that name. He and his wit disappeared into the Jersey swamps a year ago.
Why did he go to Jersey? Can't even pump your own gas.
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Quote:
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In the words of one of Bimmerfest's greatest minds:"Been there, done that"
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Half the fun of succeeding in life is fighting the fight and making it.
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  #2732  
Old 12-20-2011, 02:53 PM
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DSXMachina DSXMachina is offline
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Originally Posted by -=Hot|Ice=- View Post
Why did he go to Jersey? Can't even pump your own gas.
He had an idyllic life in a NH picture postcard town but was seduced by the lure of big bucks, bright lights and witty repartee in glitzy Manhattan pubs. Instead he has been stuck on dumpy commuter trains taking him from his isolated McMansion enclave into the never ending pressure pot of a big city rat race.
He vents his frustration on us from time to time but the magic is gone.
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  #2733  
Old 12-20-2011, 02:57 PM
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DSXMachina DSXMachina is offline
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Originally Posted by cwinter View Post
DSX, what have we got us here in your profile picture? Is this grand child number....? Congrats!
Yup, that's grandson #2 at 5 months. Seems like his father was your daughter's age only a few years ago.
Children make you feel very mortal, but grandchildren give you immortality.
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  #2734  
Old 12-20-2011, 03:38 PM
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Originally Posted by -=Hot|Ice=- View Post
Driving to California for Christmas. Anyone else have exciting plans?
Welcome to California!
Leave your wallet.
Now GTFO!



Please don't bring your weather. I got some mountain trail biking planned in our local hills on my days off and I should only need to wear a jersey and MTB shorts.
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  #2735  
Old 12-20-2011, 04:27 PM
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Originally Posted by -=Hot|Ice=- View Post
Driving to California for Christmas. Anyone else have exciting plans?
Heading back to the Boca Raton (Florida) Resort and Club.




.
CA
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Last edited by captainaudio; 12-20-2011 at 06:32 PM.
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  #2736  
Old 12-20-2011, 05:41 PM
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Nordic_Kat Nordic_Kat is offline
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Quote:
Originally Posted by DSXMachina View Post
Yup, that's grandson #2 at 5 months. Seems like his father was your daughter's age only a few years ago.
Children make you feel very mortal, but grandchildren give you immortality.
He looks very angelic in that photo but something tells me lurking behind that sweet smile is an imp.
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  #2737  
Old 12-21-2011, 07:03 AM
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HAPPY CHANUKAH!!!




Oh and getting me the car in the image below would not be inappropriate

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Quote:
Originally Posted by cwinter View Post
I agree with furby
Quote:
Originally Posted by guerilla twang View Post
Hahahaha, I like you furb, you like to live dangerously.
Quote:
Originally Posted by ProfessorCook View Post
I started to google to find a picture to match furby's suggestion to Gia, but it quickly became clear it was an inappropriate search to conduct at work.
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  #2738  
Old 12-21-2011, 08:18 AM
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Quote:
Originally Posted by Nordic_Kat View Post
He looks very angelic in that photo but something tells me lurking behind that sweet smile is an imp.
No way, they are all little angels if they carry your blood. Just this morning I remarked to my little girl how good she was as her mom reminded me that I already had to yell at her 3 times for not listening. She was still being a good girl.
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You will rue this day, RUE THIS DAY
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  #2739  
Old 12-21-2011, 09:28 PM
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Inline Sixer Inline Sixer is offline
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Just watched MI-4 Ghost protocol. Loved it. I was half expecting a rather formulaic overload of explosion scenes. I was pleasantly surprised to find it had fist fight featuring two hot ladies, that BMW airbags all worked, humor, as well as the future of heads-up display as shown in the i8. I saw it on iMax which was awesome. Thank god it wasn't in 3D because I hate 3D.

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  #2740  
Old 12-21-2011, 10:48 PM
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Exactly....look at this dip$h1t. One should have to take a test before someone wins this. It's like giving a gun to a toddler

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Last edited by FCBayernFTW; 12-21-2011 at 10:52 PM.
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  #2741  
Old 12-22-2011, 07:06 AM
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Exactly....look at this dip$h1t. One should have to take a test before someone wins this. It's like giving a gun to a toddler

This makes me cry. Imagine the taxes he had to pay on that thing.

EDIT: Youtube took the video down? WTF
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Quote:
Originally Posted by cwinter View Post
I agree with furby
Quote:
Originally Posted by guerilla twang View Post
Hahahaha, I like you furb, you like to live dangerously.
Quote:
Originally Posted by ProfessorCook View Post
I started to google to find a picture to match furby's suggestion to Gia, but it quickly became clear it was an inappropriate search to conduct at work.
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  #2742  
Old 12-22-2011, 07:18 AM
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Various exotic sites are stating the car was valued at ~$350K, thus the TAX was going to be about $100K.
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  #2743  
Old 12-22-2011, 07:49 AM
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Originally Posted by Bcube View Post
Various exotic sites are stating the car was valued at ~$350K, thus the TAX was going to be about $100K.
Current offerings on the duPont Registery are about $270K. I calculate his state and federal taxes at about $103K, depending on what kind of 1099 he gets, or what the IRS considers "fair value." Depending on his repair costs...shipping, insurance, buyer's market, he'd be lucky to get $135 out of this, but I'm betting he'll take the first $170 - 190K cash offer he gets otherwise he'll end up sitting on the car for a long time.
Still not a bad pay day. Good thing he didn't total it.
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  #2744  
Old 12-22-2011, 10:36 AM
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DSXMachina DSXMachina is offline
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Interesting tax angle. He wins the car and owes tax at full value. He partially destroys the car and sells it at less than full value. What is his tax liability? I'll bet it was on the full retail value of a new car. Tax can't be on the diminished value (wrecked) because such claims would open a can of worms

Does anyone know for sure?
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  #2745  
Old 12-22-2011, 11:24 AM
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Here is something you forgot...he won the car when it was in brand new/pristine condition. So he would pay taxes based on that. He then crashed the car. Now if he won the car AFTER it was wrecked I would agree he shouldn't (and he wouldn't) pay taxes on the full value but the fair market value.
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My Drive Style

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Quote:
Originally Posted by cwinter View Post
I agree with furby
Quote:
Originally Posted by guerilla twang View Post
Hahahaha, I like you furb, you like to live dangerously.
Quote:
Originally Posted by ProfessorCook View Post
I started to google to find a picture to match furby's suggestion to Gia, but it quickly became clear it was an inappropriate search to conduct at work.
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  #2746  
Old 12-22-2011, 11:56 AM
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Zeichen311 Zeichen311 is offline
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Quote:
Originally Posted by furby076 View Post
Here is something you forgot...he won the car when it was in brand new/pristine condition. So he would pay taxes based on that.
Yup. Same as winning a lottery then accidentally setting fire to the check as you light up a stogie to celebrate. (OK, maybe not; you could probably get the check replaced. Burn the cash instead.) AFAIK depreciation and losses can't be deducted for personal vehicles, except for theft.

So if anyone wants to help the guy out...steal that Lambo!
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Last edited by Zeichen311; 12-22-2011 at 11:58 AM.
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  #2747  
Old 12-22-2011, 01:40 PM
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captainaudio captainaudio is offline
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Quote:
Originally Posted by DSXMachina View Post
Interesting tax angle. He wins the car and owes tax at full value. He partially destroys the car and sells it at less than full value. What is his tax liability? I'll bet it was on the full retail value of a new car. Tax can't be on the diminished value (wrecked) because such claims would open a can of worms

Does anyone know for sure?
The winning of the car and the wrecking of the car are two separate incidents and the taxes would be based on the value of the car when he won it.

CA
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  #2748  
Old 12-22-2011, 01:51 PM
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Just watched MI-4 Ghost protocol. Loved it. I was half expecting a rather formulaic overload of explosion scenes. I was pleasantly surprised to find it had fist fight featuring two hot ladies, that BMW airbags all worked, humor, as well as the future of heads-up display as shown in the i8. I saw it on iMax which was awesome. Thank god it wasn't in 3D because I hate 3D.


^^and he's sporting Oaklies again, Those stop shrapnel quite well.
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  #2749  
Old 12-22-2011, 01:59 PM
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pointandgo pointandgo is offline
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Quote:
Originally Posted by DSXMachina View Post
Interesting tax angle. He wins the car and owes tax at full value. He partially destroys the car and sells it at less than full value. What is his tax liability? I'll bet it was on the full retail value of a new car. Tax can't be on the diminished value (wrecked) because such claims would open a can of worms

Does anyone know for sure?
I found this tax advice for a similar situation:

Tax Law (Questions About Taxes)/Prize winnings

Expert: Helen P. O`Planick, EA

Question
I won a new car. The manufacturer is going to send me a 1099 for $28745.00. The IRS help line tells me I must pay taxes on that amount. I have no need for the vehicle and the best offer for this SUV I have got is almost $17000.00. The dealer where the vehicle is supposed to be delivered today is only offering 14k. They say no one wants a big SUV now. I thought I could pay on the Fair Market Value but the IRS person told me I must pay taxes on the 1099 amount. I am supposed to pick the car up today. Do I have any options?

Answer
You do, your first was NOT asking the IRS.

You can claim what a willing buyer and seller can agree on for the purchase price of the car. So if your dealer is willing to give you 14K for it, make sure they give you (in writing) that this is the fair market value of the vehicle, and that is all you will pay tax on.

You can adjust the 1099 on line 21 as follows - prize $28745 -- fair market value $14,000 and the $14,000 goes on the number line of line 21.

Keep the dealer's statement in your records in case the IRS calls you on it.

Helen,EA in PA
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E90 328i
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(unmentionables in between)
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------------------------------------------------------------------------
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  #2750  
Old 12-23-2011, 12:36 PM
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