« previous next »
Pages: [1]   Go Down

Author Topic: Cash for clunkers= Eat it dealers!  (Read 2653 times)

0 Members and 1 Guest are viewing this topic.

Offline mamacags

  • Smells like teen spirit
  • Hero Member
  • *****
  • Posts: 4281
  • Reputation: +444/-113
  • Little Miss Cranky Pants
Cash for clunkers= Eat it dealers!
« on: August 20, 2009, 07:56:24 PM »
We bought a new car today.  It wasn't a clunkers deal.  The small dealer we bought from is owed 800,000.00 for the CFC deals.  I told them that next election maybe they should think about voting for the party that doesn't promise rainbows and sunshine that they can't deliver on.
Logged
All the great things are simple, and many can be expressed in a single word: freedom, justice, honor, duty, mercy, hope.
Winston Churchill

Offline franksolich

  • Scourge of the Primitives
  • Global Moderator
  • Hero Member
  • *****
  • Posts: 58722
  • Reputation: +3102/-173
Re: Cash for clunkers= Eat it dealers!
« Reply #1 on: August 20, 2009, 09:33:49 PM »
I'm wondering about something.

Even if 0bama hasn't paid these automobile dealers by December 31, will they still have to count the promised cash as income for 2009?
Logged
apres moi, le deluge

Milo Yiannopoulos "It has been obvious since 2016 that Trump carries an anointing of some kind. My American friends, are you so blind to reason, and deaf to Heaven? Can he do all this, and cannot get a crown? This man is your King. Coronate him, and watch every devil shriek, and every demon howl."

Offline Chris

  • Administrator
  • Hero Member
  • *****
  • Posts: 1476
  • Reputation: +522/-16
Re: Cash for clunkers= Eat it dealers!
« Reply #2 on: August 20, 2009, 09:37:23 PM »
Quote from: franksolich on August 20, 2009, 09:33:49 PM
I'm wondering about something.

Even if 0bama hasn't paid these automobile dealers by December 31, will they still have to count the promised cash as income for 2009?

Don't most businesses figure their income and taxes on a quarterly basis?  If so, these people may be SOL come September.
Logged
This post is disruptive, hurtful, rude, insensitive, over-the-top, or otherwise inappropriate.

Offline franksolich

  • Scourge of the Primitives
  • Global Moderator
  • Hero Member
  • *****
  • Posts: 58722
  • Reputation: +3102/-173
Re: Cash for clunkers= Eat it dealers!
« Reply #3 on: August 20, 2009, 09:41:56 PM »
Quote from: Chris on August 20, 2009, 09:37:23 PM
Don't most businesses figure their income and taxes on a quarterly basis?  If so, these people may be SOL come September.

Yes, they do figure them out on a quarterly basis, but they can adjust and readjust income through December 31.

I'll bet they have to pay income taxes on this income not received.
Logged
apres moi, le deluge

Milo Yiannopoulos "It has been obvious since 2016 that Trump carries an anointing of some kind. My American friends, are you so blind to reason, and deaf to Heaven? Can he do all this, and cannot get a crown? This man is your King. Coronate him, and watch every devil shriek, and every demon howl."

Offline NHSparky

  • Hero Member
  • *****
  • Posts: 24431
  • Reputation: +1280/-617
  • Where are you going? I was gonna make espresso!
Re: Cash for clunkers= Eat it dealers!
« Reply #4 on: August 21, 2009, 07:00:49 AM »
Maybe the government can give them IOU's then tax them like CA does.
Logged
“Any man who thinks he can be happy and prosperous by letting the government take care of him better take a closer look at the American Indian.”  -Henry Ford

Offline DumbAss Tanker

  • Hero Member
  • *****
  • Posts: 28493
  • Reputation: +1710/-151
Re: Cash for clunkers= Eat it dealers!
« Reply #5 on: August 21, 2009, 08:35:48 AM »
Quote from: franksolich on August 20, 2009, 09:33:49 PM
I'm wondering about something.

Even if 0bama hasn't paid these automobile dealers by December 31, will they still have to count the promised cash as income for 2009?

They will if they are accrual-basis taxpayers rather than cash-basis taxpayers.  Some of the smallest ones may be cash-basis, but I would expect very few would be.
Logged
Go and tell the Spartans, O traveler passing by
That here, obedient to their law, we lie.

Anything worth shooting once is worth shooting at least twice.

Offline franksolich

  • Scourge of the Primitives
  • Global Moderator
  • Hero Member
  • *****
  • Posts: 58722
  • Reputation: +3102/-173
Re: Cash for clunkers= Eat it dealers!
« Reply #6 on: August 21, 2009, 08:43:16 AM »
Quote from: DumbAss Tanker on August 21, 2009, 08:35:48 AM
They will if they are accrual-basis taxpayers rather than cash-basis taxpayers.  Some of the smallest ones may be cash-basis, but I would expect very few would be.

Oh man, that's going to be a whole world of trouble.
Logged
apres moi, le deluge

Milo Yiannopoulos "It has been obvious since 2016 that Trump carries an anointing of some kind. My American friends, are you so blind to reason, and deaf to Heaven? Can he do all this, and cannot get a crown? This man is your King. Coronate him, and watch every devil shriek, and every demon howl."

Offline DumbAss Tanker

  • Hero Member
  • *****
  • Posts: 28493
  • Reputation: +1710/-151
Re: Cash for clunkers= Eat it dealers!
« Reply #7 on: August 21, 2009, 08:47:00 AM »
Quote from: franksolich on August 21, 2009, 08:43:16 AM
Oh man, that's going to be a whole world of trouble.

Sooner than you might think; the comment about fiscal years above is entirely accurate, but our tax system is pay-as-you-go which is relatively invisible to wage-earners, but it means businesses have to pay quarterly estimated taxes up front, which for most will mean the day of reckoning on this is only six weeks away.
Logged
Go and tell the Spartans, O traveler passing by
That here, obedient to their law, we lie.

Anything worth shooting once is worth shooting at least twice.

Offline jinxmchue

  • Hero Member
  • *****
  • Posts: 3841
  • Reputation: +114/-26
Re: Cash for clunkers= Eat it dealers!
« Reply #8 on: August 21, 2009, 03:05:05 PM »
I bet Obama & Clowns did this so that they could "bail-out" the dealers, too, along with the manufacturers.  All part of a master plan to control the auto industry.  Pretty soon, we'll all be forced to buy "green" vehicles.
Logged

Offline mamacags

  • Smells like teen spirit
  • Hero Member
  • *****
  • Posts: 4281
  • Reputation: +444/-113
  • Little Miss Cranky Pants
Re: Cash for clunkers= Eat it dealers!
« Reply #9 on: August 21, 2009, 04:11:35 PM »
The new cars in the showroom had "global warming rating" stickers on them. :thatsright:
Logged
All the great things are simple, and many can be expressed in a single word: freedom, justice, honor, duty, mercy, hope.
Winston Churchill
Pages: [1]   Go Up
« previous next »