What to do with my Ranger?
#11
Senior Member
Thread Starter
#13
Member
#14
I'll give you a case of beer, and a broken cigarette for it. RIGHT MEOW
Beer talks,bullshiz walks
Beer talks,bullshiz walks
#15
Senior Member
Its really not worth it because the tax write off isn't as good as getting cash for it.
#16
Senior Member
Thread Starter
#17
Texas Aggie
I'd say F it and do the tax write off if that'll work out to $400 or so benefit to you. Otherwise, these are my rules/opinions:
Runs and drives with AC - $2k
Runs and drives without AC -$1k+
People always need trucks, it's easily worth $700 at a bare minimum. I'd even consider buying it at that price just to fart around with and half-destroy until it wasn't able to be driven anymore, then get $500 from a salvage yard. Cheap fun IMO.
Runs and drives with AC - $2k
Runs and drives without AC -$1k+
People always need trucks, it's easily worth $700 at a bare minimum. I'd even consider buying it at that price just to fart around with and half-destroy until it wasn't able to be driven anymore, then get $500 from a salvage yard. Cheap fun IMO.
#18
if you got a $400 tax write off and were making the type of money that put you in the highest tax bracket (450k+), you'd make/save $156 on your taxes... if your middle income it's only $60.
I heard a "financial adviser" tell a guy not to pay off his house because he would lose the tax write off before (which is only on the interest he pays)... I just don't get this "do it for the write off" I will gladly trade anyone on here $30 for every $100 they give me and unless they make over 223k a year, I'm giving them a better deal than any write-off they are getting giving away money.
I heard a "financial adviser" tell a guy not to pay off his house because he would lose the tax write off before (which is only on the interest he pays)... I just don't get this "do it for the write off" I will gladly trade anyone on here $30 for every $100 they give me and unless they make over 223k a year, I'm giving them a better deal than any write-off they are getting giving away money.
#19
Texas Aggie
^that's why I said "$400 or so benefit to you" and not a $400 write-off. For this case, it makes sense to me. Selling crap on CL is a PITA. Plus you get your "donation"/feel good about yourself deed out of the way.
400k is top tax bracket IIRC, and they get raped at 39.5%. My dad is in it and wanted to write off a $15k boat, but because it depends on what they auction/sell it for, and there's nothing keeping them from selling for squat, it made no sense to do. He could've only gotten like $3k or something stupid-low of benefit for it.
400k is top tax bracket IIRC, and they get raped at 39.5%. My dad is in it and wanted to write off a $15k boat, but because it depends on what they auction/sell it for, and there's nothing keeping them from selling for squat, it made no sense to do. He could've only gotten like $3k or something stupid-low of benefit for it.
Last edited by KMAC0694; 04-25-2014 at 06:29 PM.
#20
^that's why I said "$400 or so benefit to you" and not a $400 write-off. For this case, it makes sense to me. Selling crap on CL is a PITA. Plus you get your "donation"/feel good about yourself deed out of the way.
400k is top tax bracket IIRC, and they get raped at 39.5%. My dad is in it and wanted to write off a $15k boat, but because it depends on what they auction/sell it for, and there's nothing keeping them from selling for squat, it made no sense to do. He could've only gotten like $3k or something stupid-low of benefit for it.
400k is top tax bracket IIRC, and they get raped at 39.5%. My dad is in it and wanted to write off a $15k boat, but because it depends on what they auction/sell it for, and there's nothing keeping them from selling for squat, it made no sense to do. He could've only gotten like $3k or something stupid-low of benefit for it.
I'm all for charity... but give it because you want you like you said the "donation/feel good"... doing it just for a write off is completely stupid