ot. electric bicycles.

[FlyerInHi]

You could also have your mom sign a promissory note and gift her annually under the threshold

[FlyerInHi]

[quote=flu][quote=FlyerInHi]Be sure to file a return.

https://www.irs.gov/pub/irs-pdf/f709.pdf%5B/quote%5D

Of course, always have when the gifts exceeded the annual limit. Have you paid your back state sales taxes yet Brian, with interest?[/quote]

No. I ignore it when the online vendor doesn’t charge sales tax. Not my problem.

[FlyerInHi]

[quote=flu]

Or the other thing is just to buy the car, register the car in my name, and let someone else use it exclusively. The difference is if that person gets into an accident, it goes on my insurance instead of theirs, and it exposes me to liability.

The third option would be, as I am sure a lot of people do, create an LLC, put the car under the LLC, hire the family member as an employee with a company car…Damn, you small biz owners are so lucky with all the variables and now QBI breaks… lol…

But why bother with #2-3 when the gift tax limit is is so ridiculously large.

Besides, I’m supporting those shovel ready green jobs![/quote]

Those other options don’t work.

Exclusive use is a gift. If you hire an employee you have to pay employment taxes and the employee pays income taxes. Private use of company car is taxable.

[Coronita]

Actually, I was wrong…. The annual gift tax exclusion is $15k per person, $30k joint. So the actual amount that needs to count against the lifetime gift tax exclusion would be $50k-30k=$20k

Not the entire $50k…

Giving large gifts is a good thing while the gift tax limits are so high. God forbid if a progressive socialist like Warren/Harris/AOC/Bernie were to actually win, they would do anything to try to reduce it… So give while your gift exclusions are large so that IF that day of reckoning happens you won’t have a large tax bill. But then again, the idea of a progressive socialist actually winning are probably very low. There are awesome democrats like Pelosi that are filthy rich that have no interest in the socialist progressive agenda… Hence, my thesis that eventually the Democrat party will splinter off into pieces.

Contrary to some opinions, I actually a like a lot of moderate sensible democrats.

[Coronita]

[quote=FlyerInHi][quote=flu]

Or the other thing is just to buy the car, register the car in my name, and let someone else use it exclusively. The difference is if that person gets into an accident, it goes on my insurance instead of theirs, and it exposes me to liability.

The third option would be, as I am sure a lot of people do, create an LLC, put the car under the LLC, hire the family member as an employee with a company car…Damn, you small biz owners are so lucky with all the variables and now QBI breaks… lol…

But why bother with #2-3 when the gift tax limit is is so ridiculously large.

Besides, I’m supporting those shovel ready green jobs![/quote]

Those other options don’t work.

Exclusive use is a gift. If you hire an employee you have to pay employment taxes and the employee pays income taxes. Private use of company car is taxable.[/quote]

Of course I know that silly. I’m just polluting this thread with useless dribble because that way you can take it seriously and make a fool out of yourself by trying to make something out of nothing because unlike you, I don’t take 1/2 of the things said or written here seriously….In other words, I’m just trying to troll you in as much you are trying goad a reaction from me, although I really don’t mind the trolling because like I said.. whatever

The day I stopped taking this forum seriously was the day you flooded it with a political post and resurrected old threads 24/7/365 days a week. If this is what people do when they retire, I don’t want to retire…It probably contributes to dementia.

[FlyerInHi]

That’s good. If we dish it out, we can take it.

[scaredyclassic]

[quote=flu]…..So…I broke down finally and caved. I ordered a Model 3 today for my mom. Hopefully it gets here before her birthday. The electric Miata will have to wait….

However, I want to cancel and reorder the car because the order number has three 4’s in a row.. And superstition has it that is bad luck.. But it’s really hard to cancel and reorder and then Tesla will hold onto the $2500 for a few weeks and not let you apply it to the new order right away, which is annoying. Tesla needs to work on their website. I guess cost cutting found it’s way to the IT group… The model 3 was just discounted by $3000 BTW….

For me, maybe an ebikein the short term…I think there are a few ebike conversion kits on Amazon I wanted to try out. I got an old road bike that I rarely use… Reduce recycle reuse…lol…

no no no no no no no

test a mid drive bosch system.

its different.

no conversion.

this is not negotiable.

bosch midd drive.

2k at your trek dealer complete.

different experience.

keep yr old bike or sell.

only bosch.

[Coronita]

then again…My goodness this new C8 Vette looks so good… and it’s mid engine….

wow

https://www.cnn.com/2019/07/18/success/gm-corvette-stingray/index.html

[Author]

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