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#11
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Woodside is always present at Barrett-Jackson.
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#12
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Thanks for the help guys. one of my employees is trying to get finance to purchase my 68 SS 396 Camaro & his bank says its to old.
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#13
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collector car loans
my banker is a real car guy...he started the collector car program at his bank...mainly offered to good customers, but they may do an outside deal?
contact me offline if you want more info.. -wilma
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02 Berger 380hp #95 Lots of L78 Novas Join National Nostalgic Nova! 70 Orange Cooler 69 Camaro |
#14
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Quote:
"HELOCs and second mortgages will no longer be deductible if the loan proceeds are used to pay for personal items, including college tuition, vacations, credit card debt, student loan debt, a vehicle or clothing; the interest paid on that amount will not be deductible."
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Marlin 70 Yenko Nova-350/360, 4speed M21, 4.10 Posi (Daddy's Ride) 69 SS Nova-396/375hp, 4speed M20, 3.55 Posi (Benjamin's Ride) 67 RS Camaro-327/250hp, 2speed Glide, & 3.08 Open (Danny's Ride) |
#15
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Quote:
"401(k) Loan Repayment The IRS will consider your 401(k) loan to be a reportable, taxable distribution unless you meet either of these conditions: You repay the loan within five years. You use the proceeds to buy or build your primary residence. Even if you satisfy either of these two requirements, the IRS will treat your total loan balance that exceeds the lesser of $50,000 or half the value (but not less than $10,000) of your vested account balance as a taxable distribution. If you’ve already taken a loan, you’ll have to reduce the $50,000 ceiling to the extent of the highest outstanding loan balance during the one year period ending on the day before the new loan minus the outstanding balance on the date of the new loan."
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Marlin 70 Yenko Nova-350/360, 4speed M21, 4.10 Posi (Daddy's Ride) 69 SS Nova-396/375hp, 4speed M20, 3.55 Posi (Benjamin's Ride) 67 RS Camaro-327/250hp, 2speed Glide, & 3.08 Open (Danny's Ride) |
#16
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And if you are under 59 1/2 you will also be subject to 10% penalty on top of your tax bracket on any balance considered a taxable distribution .........however, paying yourself 4% interest instead of a loan company 10 or 12% is a big big positive...your payments are a lot lower, you can make payments quarterly instead of monthly,and thats a 14 to 16 % swing that goes in your pocket
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Ebay Auctions http://www.ebay.com/sch/427-king/m.h...=16&_rdc=1 No Fisher priced toys here |
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