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Discussion summary
YOUR RESEARCHMy New Tax Stimulus Interior Mods
Leading reported evidence
Check exemption
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Suggestion
I guess I'll stick with the Texan stimulus check exemption that W has added on to the legislation
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Suggestion
and risking by lowering the AGI in an "unorthodox" manner for a measly $300, $600, or $1,200 check isn't worth it, really.
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Suggestion
Your tax stimulus check just about covered the sales tax, right?
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Suggestion
I have no idea how the stimulus check works but how in the world did I get one when I know for a fact my AGI was even in the ballpark of 75K???
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Suggestion
It's based on the amount of deductions that you take for state and city taxes (a real issue in NY and CA) as well as other itemized deductions that might hit you if you have a lot as a result of running a business.
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It's based on the amount of deductions that you take for state and city taxes (a real issue in NY and CA) as well as other itemized deductions that might hit you if you have a lot as a result of running a business.
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Suggestion
I remember in my Govt and non-profit accounting class my teacher used to tease people who paid too much tax since it gave the Fed Govt an interest free loan using your money.
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Outcome without a verified action link
It's still not too late, I accept Paypal and cash!
With the arrival of George W's Tax Stimulus checks, I decided to send the money (and a little extra) to Porsche Exclusive for the leather pieces that I have been wanting to complete the interior. It took awhile for Porsche to custom make the parts for me, but now I have the interior finished the way I originally wanted it.
Here is what I just got through installing:
Side and defroster vents in leather with the aluminum look, Option XCC & XV1:
Center Console in Leather, Option XMZ
Which makes the iTouch look good:
Upper center console and air vent in leather and aluminum look,
Option XCD & XNN:
Driver's Airbag in Leather, Option XPD:
And lastly, Porsche Tequipment "Double Bubble" Sport Exhaust Finishers. These alone are worth at least 50 HP!
My challenge is that now I am running out of things to Mod.
Looks great as usual!
I see what you mean re the color of the grey leather worn-in versus new... but overall the match seems very good.
I love those tips... but they are just too expensive!!
Since I take it in the *** every year on taxes, we could have made the whole ordeal easier. I should have just sent you the $600 instead of wasting a stamp to the IRS.
I am evil and therefore without stimulus.
Gary, man those mods look great. Nice job, as usual!
I am going to order those same mods and hope my stimulus checks between now and 2029 will enable me to get another 2004 C2 in 2029.
Where do you order parts like the leather lower console? I can't find it anywhere (and obviously like it a whole lot). Papa has a birthday next week...
You order them from your local Porsche dealer, or online from places like Sunset Porsche. Since this type of stuff is built to order, it is unlikely (but not impossible) to find the parts from a dismantler. Order time is about 2-3 months.
OE, your sig. photo with the bridge is about the nicest 911 photo I have ever seen.
When I see you detail photos, however, it almost makes me want to give up! Kind of like when I played guitar [several-er-quite a few years ago] but then saw Robin Trower in concert. I bet they did not leave the factory that nice!
Really? In my mind you can only lower your AGI so much legally. If you have some magic formula, then I'd love to hear it.
There's a reason that they invented that wonderful tax called the AMT and that's to whack people who earn too much and deduct too much.
Personally I'd prefer to be in the enviable situation of paying too much tax, rather than earning too little.
Yup! The rebate is an absolute joke. A gimmick for the stupid people.
AMT kicks in at a little over $200K. If anyone can find a way to lower $200K down to $75K legally, then they're a genius and I'm sure that the IRS would love to have a word with them.
Personally, I know which of those two numbers I prefer to have.
I didn't think it was possible to own a porsche and qualify for a stimulus check. In California no less!
Dubya's stimulus package, what a joke. Glad you were able to use it. I'm sure the German economy thanks you.
Exactly. The AMT can absolutely kick in at 75,000 dollars at a 26% rate. Above 150 and it kicks up to 28%. It's based on the amount of deductions that you take for state and city taxes (a real issue in NY and CA) as well as other itemized deductions that might hit you if you have a lot as a result of running a business.
As for the tax rebate stimulus, it's an utter joke. Why we didn't have tax incentives to invest for the future rather than to spend for now is beyond me. Populism at its finest.
Can you tell that I got hit with the AMT and did not get a rebate. Urgh.
Meanwhile, back on thread, I love love the interior mods.
Well it could easily be done if you own an LLC where the taxes pass through your personal taxes. So company losses or expansion cost could bring your AGI down quite a bit.
I remember in my Govt and non-profit accounting class my teacher used to tease people who paid too much tax since it gave the Fed Govt an interest free loan using your money.
I have no idea how the stimulus check works but how in the world did I get one when I know for a fact my AGI was even in the ballpark of 75K??? Heck, my year end personal CC statement was over 75K. I guess I just play stupid and keep my check to myself???
**edit** just figured it out. Since I am from Texas, I automatically get one. Thanks W!
O.E. those interior bits look fantastic! And of course the pipes add hp, but I think it is double since they are quad pipes
I can't explain it. I just went and puled my returns just to make sure nothing "tricky" was done to get my AGI down under 75K and as I thought, nowhere close to 75K and I got a check. Mistake maybe? I guess I'll stick with the Texan stimulus check exemption that W has added on to the legislation
I just went to the IRS website and it said there were "additional payments" for those with dependents. So while I didn't qualify under the first payment with AGI over 75K, I still got the dependents payment.
Well there you have it. My reproductive ability netted me a tank of gas!
That's the way the program works. You get a max of $300 (each) if you paid no taxes and if you paid taxes and your combined AGI is above $150,000, the stimulas check is reduced by 5% of the amount over $150,000 until it is ZERO.. For a single filing, the AGI is $75,000 also reduced by 5% over that amount.
Certain forms of income are not included in calculating eligibility.
One thing I refuse to do is look at the cost of having kids. Without analyzing it I can honestly say that it's not as bad as I expected it to be... if I ignored the cost of daycare I'm not sure that I'd notice it that much.
Okay on the first point let me rephrase it to those that are easily fooled by gimmicks, i.e stupid people.
The rebates will do nothing for the economy and very little for those receiving them. It's a waste of money that the government should be directing towards solving pressing issues.
As for my previous comment on the AMT. I personally did not start paying the AMT until my household income went north of $200K... so, based on your comment I'd say that I already have a pretty good accountant.
