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| *Loan,banking and credit>>>car tax |
If you've had your car made over on "Pimp My Ride", how much in taxes did you have to pay? |
JW, is it all worth it in the long run? Honestly, Im not sure they can impose a "VAT" (Value Added Tax), especially when they look at Blue Book value to determine taxes on a given vehicle. It could fall under income as game show prizes or lottery winnings, but how would they assess the value? And should you then get a fee from the show to help offet these expenses? Taxes aren't what bothers me. You've got the car tricked out, looking all futuristic, ejection seats and huge stereo and all that, who is gonna INSURE IT for you? I pretty much guarantee you'll want Comrehensive Coverage on that thing. Then ok, I'm broke, but we got it insured, where do we store this new car, to keep it safe, where no one can get at it? Now you're investing money into security systems, secure storage facilites, gotta buy another crap car just to GET you to your tricked-out car's ultra-safe home now. Hmmm, cant take it to the grocery store, some moron will ding it all to heck with a shopping cart, can't take it out unless I stay WITH it every second of the night. Oh damn, the special infrared rearview mirror, which the show installed at a cost of $12,000, just fell off and blew up when it hit the floor. Uh oh, are those train tracks? Woops, there goes my neon undercarriage. 10 years from now, it's just another rust bucket with a lot of old broken accessories. Save your money for college. However much they put into it. i dunno what ever you have to pay, it's not worth it i ain't paying shi-,they can kiss my ***! Once I won a prize in a contest and it was worth (at the most) about $2000. A few YEARS later I got a letter from the IRS that I owed $2500 in taxes and penalties because the prize company had told the IRS about it (which hadn't occured to me) and the prize company claimed the prize was worth $6000. I was pretty annoyed but what could I do? I got most of the penalty reduced at least. I paid. Why would you have to pay taxes on something you already own? |
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