So many people here waiting on their first Maverick but may not have gotten it yet because of the people who bought theirs from underneath them to flip and gouge the next guy.
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- David
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- 2023 Ford Bronco | 2024 Ford Maverick
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LOL I missed that. I read "Gains TX" as Gaines, Texas
So let's disregard my post hahahaha
I picked it up off the floor and served it anyway... Bad Flipper....
That said... there's a special place reserved for folks who would post in a Maverick Fan Site, where more than half of the members are still waiting to obtain a Maverick at reasonable costs, and brag about taking advantage of a fleeting supply/demand imbalance to bilk $10-$12k from buyers.....
Oh, that place, it's called FaceBook.... Lots of threads there that eat this stuff up.... Apologist galore to give you the support and reaffirmation you are seeking. Oh and they'll give you data, because everyone there tells the truth ...
I thought we moved on from these flame-bait topics on this Forum...
That said... there's a special place reserved for folks who would post in a Maverick Fan Site, where more than half of the members are still waiting to obtain a Maverick at reasonable costs, and brag about taking advantage of a fleeting supply/demand imbalance to bilk $10-$12k from buyers.....
Oh, that place, it's called FaceBook.... Lots of threads there that eat this stuff up.... Apologist galore to give you the support and reaffirmation you are seeking. Oh and they'll give you data, because everyone there tells the truth ...
I thought we moved on from these flame-bait topics on this Forum...
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I misread it as well first time.LOL I missed that. I read "Gains TX" as Gaines, Texas
1) I don't care if anyone mis-represents their Federal or State tax returns, it's not my problem to police. If they choose to and are caught they win the prize of dealing with the consequences and the audit(s) that can touch additional tax years. When someone signs their return they are 'Declaring under penalties of perjury that the return is true and correct'.
How many new Agents is the IRS in the process of hiring? Reports vary from 20,000 to 30,000 additional agents. Their focus will largely be to find additional IRS revenue...
B) The Federal Income Tax Return, Form 1040, under #7 "Income" on page 1 requires reporting Capital gain.
Federally, short term Capital Gain (property sold in less than a year) is basically taxed like regular income and subject to up to 37% tax (or whatever your rate is).
Federally, long term Capital Gain (property held for more than a year and sold) is subject to up to a ~20% tax (based on your tax bracket.
Additional State Capital Gain tax varies by state
I'm not a tax expert....
.
How many new Agents is the IRS in the process of hiring? Reports vary from 20,000 to 30,000 additional agents. Their focus will largely be to find additional IRS revenue...
B) The Federal Income Tax Return, Form 1040, under #7 "Income" on page 1 requires reporting Capital gain.
Federally, short term Capital Gain (property sold in less than a year) is basically taxed like regular income and subject to up to 37% tax (or whatever your rate is).
Federally, long term Capital Gain (property held for more than a year and sold) is subject to up to a ~20% tax (based on your tax bracket.
Additional State Capital Gain tax varies by state
I'm not a tax expert....
.
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lol and tbf, three letter agencies have kicked doors and shot dogs for less, so I'm honest too. I do however have some decent non taxable income on the sideCorrect, you would have to report it. I am no expert in tax law or anything, but I always report honestly and truthfully. $20k is a pretty substantial profit, I couldn't sleep at night if I was hiding that lol
So did I. It was hard to decipher.LOL I missed that. I read "Gains TX" as Gaines, Texas
Never. Some would say it's the life blood of forums. I don't hold a grudge, you do you, but the time for flippers has long passed.I thought we moved on from these flame-bait topics on this Forum...
Sooooo, if we have to pay capital gains on profits from vehicle sales can I claim a loss from a vehicle that I sold for less than what I bought it for?
I assume the answer is no because itās a depreciating asset, but Iāve never really thought about it before so I figured Iād ask. Does the idea of a ādepreciating assetā have a legal definition and therefore a framework for how they are taxed, or is it just an accounting term?
I assume the answer is no because itās a depreciating asset, but Iāve never really thought about it before so I figured Iād ask. Does the idea of a ādepreciating assetā have a legal definition and therefore a framework for how they are taxed, or is it just an accounting term?
Used car index down 10% in 3 months. Flipping days are coming to an end.
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My dealer tells me I can refuse delivery of my order even after itās built, and sitting on the lot, and they will refund my $500 deposit. My salesman says that, because he says they will turn around and mark it up over sticker, and claim to have no trouble selling it. I test drove a used ā23 XLT Tremor they had with 5,000 miles on it. Loved it, but wasnāt willing to pay the asking price of $5000 OVER the original sticker! So, I ordered exactly what I wanted yesterday, but as long as my current car keeps running, I donāt need it today. Iām looking to retire my ā08 Charger, but for now, itās still running. Why not buy it and then turn around and sell it back to the dealer at a profit that he will mark up again and still sell? I then place a new order for a ā25 when the order banks open, and then wait for it. Yes, Iām now part of the supply problem, but can you blame someone for flipping? Itās easy money. At least thatās what it seems like where I am.
I guess I didnāt read the audience before I posted this thought. Of course Iām going to take it. That Tremor I test drove; my salesman said they marked it up cause they bought from someone for more than sticker. So the dealer bought it from a flipper.
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- #30
Well Mav XL came through and I am keeping it. After playing the Flip Game I am now out. This Mav is mine. In Deffence it is very tough on the 2022 when you pick up a vehicle hybrid and a dealer offers 11 K over as soon as you pick it up. Then you wait almost a year and the same thing happens. Then again. Even the one I intend to keep ( Guilt and Greed are a Bitch ) Yet I am being called over it. I have a 2024 Hybrid on order it will be here in Dec. It will be at Invoice I want nothing out of it. I just don't want a dealer to get it again. I will post again when it is shipped. I am out of the Game with a Nice mav
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