There's a lot of attention being paid to car-donation programs these days -- you know, those deals in which people give their old cars to charity and claim fat tax deductions on their returns. The government's concern is that a lot more is being written off on returns than is finding its way into charitable coffers. In fact, President Bush's latest budget includes a crackdown that would require appraisals to back up any car deduction. But don't let that scare you away from a deduction if you gave a car or truck to charity in 2003. The law says you're allowed to deduct the fair-market value of the vehicle at the time of the gift. Signing over the title has the same tax-saving power as signing a check.
... deduction on their 1998 tax return for the value of their donated and destroyed house. The IRS disa... be taken into account in determining the fair market value of the donated property. As we explai... could not use the retail price of donated cars as their fair market value because a contractual c...
Three Mercedes-Benzes were stolen in North Arlington, Cresskill and Hackensack over a two-week period last August, as a wave of luxury-car thefts was bedeviling police departments across Bergen County. On Wednesday, federal prosecutors said those cars -- a gold 2008 ML350, a silver 2009 GL550 and a black 2008 S550 with a combined fair-market value of $149,000 -- were packed into a container and shipped to Tin Can Island, a port in Lagos, Nigeria, by members of an international auto theft ring.
EPA and NHTSA, on behalf of the Department of Transportation, are issuing this joint proposal to further reduce greenhouse gas emissions and improve fuel economy for light-duty vehicles for model years 2017-2025. This proposal extends the National Program beyond the greenhouse gas and corporate average fuel economy standards set for model years 2012-2016. On May 21, 2010, President Obama issued a Presidential Memorandum requesting that NHTSA and EPA develop through notice and comment rulemaking a coordinated National Program to reduce greenhouse gas emissions of light-duty vehicles for model years 2017- 2025. This proposal, consistent with the President's request, responds to the country's critical need to address global climate change and to reduce oil consumption. NHTSA is proposing C...
...These standards apply to passenger cars, light-duty trucks, and medium-. duty passenger ve... Credits and Fuel Consumption Improvement Values, Off-cycle Reductions, and Full-size Pickup Trucks... of vehicles that are currently in the marketplace. The agencies' believe there is a wide range o...EPA's test is a fairly simple test, performed while the vehicle is at idl...
COLUMBUS, Ohio - Former Ohio State coach Jim Tressel was told by the school that he did a poor job of self-reporting NCAA violations years before he failed to tell his bosses that players were selling championship rings and other Buckeyes memorabilia, a cover-up that cost him his job. In an evaluation of Tressel's job performance from 2005-06, then- athletic director Andy Geiger rated Tressel "unacceptable" in terms of self-reporting rules violations in a timely manner. The coach also was warned in a separate letter that he and his staff needed to do a better job of monitoring the cars the Buckeyes were driving - an issue that would arise again this spring.
... and determined that the dealers received fair- market value for the cars. The bureau did not add...
When Dennis and Rebecca Mierkowski bought a new car in 2006 for $22,444, they traded in their other vehicle for $13,750. The problem was they still owed $21,820 on the trade-in vehicle. The difference between the value and the amount owed on the trade-in - or its "negative equity" - totaled more than $8,000, which was rolled into the new car loan. More than a year and a half later, the couple filed for Chapter 13 bankruptcy and sought to have that negative equity classified as unsecured debt.
... cases the bankruptcy judge classified the fair market value of the new cars to be secured debt an...
In the past, when an individual needed information relative to a prior year personal tax return, a specific request had to be made to the IRS and often there was a fee to be paid. Bowing to technology, the IRS announced a new online tool at www.irs.gov where taxpayers may request a transcript of their prior year return. While the tax return transcript is not a copy of the actual return, it shows most items on a line by line basis as it was originally filed. A tax account transcript shows any adjustments made either by the IRS or by the taxpayer after the return was originally filed.
..., the IRS has indicate the maximum fair market value that employers can use when valuing ccars, trucks and vans on the cents per mile basis for p...
Agents and brokers who regularly work with collector car enthusiasts know what drives these clients: passion. The collector car market is as diverse as the automobiles that make up the market. There are vintage vehicles, muscle ears, sports and exotic automobiles, and classic cars. The definition of "collector car" often varies. However, for insurance purposes, to be considered a collector car, it doesn't necessarily have to be old, it just has to be appreciating or maintaining its value. Thus, some new vehicles fit into the collector car insurance market. Collector car owners usually require other coverages and services not in standard auto policies, so agents need to talk with their carrier about the following: 1. agreed value coverage that increases with the value of the car, 2. choi...
...6 Fair replacement of parts. On collector cars, all parts...
... to Newsom's plea agreement, the total value of the nine vehicles was "approximately $360,712.0... on available information, including "[t]he fair market value of the property unlawfully taken or d... by the insurance companies for the stolen cars. Had the district court used this figure, Newsom w...
... was to take into account the retail value of both the. new and the refurbished goods shipped... commentary suggests basing loss on the "fair market. value of the property unlawfully taken or ...); see also Carrington, 96 F.3d at 6 (for cars. fraudulently obtained from car dealers, fair mark...
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