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Everything posted by nick8086
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Wanted: Frazer Sign
nick8086 replied to Gainey's topic in Memorabilia, Toys, Art, Signs, Clothing and Printed Material
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Wanted: Frazer Sign
nick8086 replied to Gainey's topic in Memorabilia, Toys, Art, Signs, Clothing and Printed Material
What is your budget? Did you reach out to the guy in mn .. I may have a road trip in his town after the winter months are over.. He has a lot of Kaiser signs I never seen before.. -
Wanted: Frazer Sign
nick8086 replied to Gainey's topic in Memorabilia, Toys, Art, Signs, Clothing and Printed Material
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Do you have an Bucket list of Cars you'd like to own?
nick8086 replied to Fargoguy's topic in General Discussion
Maybe one that cooks food.. -
Wanted: Frazer Sign
nick8086 replied to Gainey's topic in Memorabilia, Toys, Art, Signs, Clothing and Printed Material
Some one has two new ones still in the wooden shipping crates. in Missouri ... Just FYI -
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They drop the price.. to 64500..
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Not sure if I have 75k or 80K for my car insurance on them.. They very fun to drive.. If you have the over drive working you can drive this car at 70 mph. It does not have any problems. It is all hood since you sit so low and you at the back of the car.. It will not do burnout.. Just FYI - I was told 30 years ago one Kaiser Darrin had a Jaguar motor in it.. I try to track in down with no luck..
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1954 kaiser Darrin Parts. This is a 1977 parts order list. They list the item by numbers you can buy.. PM me.. Not sure on price..
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I like how you think : The tax implications are very significant. and the other poster.. As in either way you could be trying to avoid either estate taxes on one end or capital gains on the other end. They closed a lot of loop holes last year.. With the care act 2.0 and the March 2023 laws. I lost most of my stepped up basis with these two new laws.. So I inherited in 2024 a Property - Value is 455,000. One trust owns 50% with a stepped up basis at 2012. The other trust own the other 50%. stepped up basis 2024.. So lets do the math 455000 / 2 = 227500.. So I will not pay taxes on the 227500 for the trust in 2024. Now my stepped up basis for the 2012 trust is 28000. So my tax bill is 199500 or more.. I should keep the 455000 house and get a new loan against it and buy a new car. Since the house is payed off.. And write off more stuff running the house as a rental and less taxes.. I needed to add the realtor fees and closing costs. maybe 45,000.00
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My inherit, date was 2012.. I do not have a lot of receipts to add. My mechanic only charged me 11.00 a hour.. That was the good guy price..
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Peter my cars went thru Probate. I have to report it.. So I and the state of Neb has a record of my cost basis. It is very low.. Yes I will still have to pay taxes.. If I sell them..
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This one is for Ed - the Doctor of Motors
nick8086 replied to 3macboys's topic in General Discussion
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What are you working on right now?
nick8086 replied to Jeff Perkins / Mn's topic in Our Cars & Restoration Projects
I put a few items on line.. -
This one is for Ed - the Doctor of Motors
nick8086 replied to 3macboys's topic in General Discussion
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This one is for Ed - the Doctor of Motors
nick8086 replied to 3macboys's topic in General Discussion
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Kaiser Frazer Parts For Sale
nick8086 replied to jimkf's topic in Kaiser, Frazer, Darrin, Henry J, Willys
Thanks Jake.. -
This one is for Ed - the Doctor of Motors
nick8086 replied to 3macboys's topic in General Discussion
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What can I get a car collector wife for Christmas?
nick8086 replied to nick8086's topic in General Discussion
She likes the gift.. Yes I had to get other things.. With 9 cars and 4 bikes at our house. This is very nice to have.. -
Collector cars and other collectibles are considered tangible personal property. So when they're sold for a profit, capital gains tax is owed by the seller. Tax at the federal level is 28 percent, while state tax varies depending on the residency of the seller. 28 plus 14 = 42.. It s#ck to pay taxes.. Yes I have looked into it.. That is why I still have the Darrin s.. Here is why they sell a car to give the money to a Charity.. One other approach is, rather than selling the collectible, donating it to a qualified charity. With this route, you'll receive a charitable-giving related tax deduction rather than a capital gain. The exact amount of the deduction will vary depending on what the qualified charity does with your collectible.