posted by Diesel Performance Truck on Jan 30
Everywhere i looked i couldn’t find the gas mileage for diesel trucks, and i’d like to know what they are especially for Dodge Ram 1500/2500, Chevy Silverado 1/2 ton/2500HD and Ford F-150/F-250.
Archive for January, 2010
posted by Diesel Performance Truck on Jan 29
Krazy Bains Suspensions Dodge Ram! Truck is running a Krazy Bains 12″ Long Arm Suspension lift with 37×13.50×22 Kumho road venture mud terrains on 22×11 Driv Blitz wheels.
posted by Diesel Performance Truck on Jan 29
gmc 2500hd duramax diesel with afe cold air intake magnaflow exhaust edge hot juice power programmer and a zex nos kit
posted by Diesel Performance Truck on Jan 29
? Changing Tax Laws Combat Fraudulent Automobile Donation Deductions
When giving its report on the rise of automobile donation to the Senate Committee on Finance in 2003, the US General Accounting Office (GAO) found quite a bit of discrepancy between the amount of monies claimed as deductions on individual and business returns and the monies reported from actual automobile donation sales by non-profit organizations (NPO). As a result, certain changes were made to the existing tax laws that govern how deductions are claimed from automobile donation.
Though California was the only state that kept track of automobile donation proceeds at the time, it was found that third party organizations handling automobile donation usually took up as much as 70% of the amount received from the original sale of such a vehicle on the wholesale market. The exact amount depending upon the arrangement between the automobile donation organization and the NPO.
In California, third-party agencies that handle automobile donation are beholden to take only a given percentage of the sale, wholesale or not, as overhead expenses, no matter what those expenses actually are. As such, higher prices for vehicles are often achieved in private sales in that state, though such sales often take longer than automobile donation auctions in other states.
When the Finance Committee heard these figures and many more that proved the federal government was bearing the brunt of these donations in the form of donation discrepancy, the process to clear this problem with auto donation deductions was initiated. There’s nothing to get a sub-committee going like an estimated $600 million shortfall in tax revenues.
This is not to say that someone using the blue book value of their car to describe a barely running rust bucket given as a charitable auto donation is setting out to defraud the government, but it certainly has the same effect. In that 2003 GAO report, the majority of tax returns investigated from 2002 showed an average actual donation to the charities of 1-5% of that reported as the original donation on the resultant tax forms largely due to the use of third party auto donation agencies and the use of wholesale and wrecking yard sales.
To this day, a large number of NPOs continue using third-party agents to facilitate auto donation. The lack of communication as to where the actual overhead expenses of the third-party auto donation agents were almost entirely lacking in detail – instead, lumping all expenses under categories such as “towing” or “other.” Indeed, bookkeeping has been a real problem with many of these setups.
In an effort to combat this discrepancy with auto donation, new rules were instated by the IRS that require a statement of monies received from the sale of the car, rather than the “fair market value” of the vehicle for vehicles netting over $5,000. Because of this, many who consider auto donation as a viable source of deduction have grown suspicious of letting third-party agencies handle the auto donation process for them.
For instance, if you have a vehicle with a fair market value of $10,000 and sell it yourself, you’ll net about $10,000. After you pay capital gains and income taxes on that amount, you should still have over $7,000 to donate to the charity of your choice, whether they take auto donations or not. This does depend upon your tax bracket, but that full amount will go to the charity and be legally deductible. A third party may be lucky to get $4,000 at auction and give less than $1,000 to your charity and giving a lower reported value to you.
On the other hand, since rules were tightened in the early ‘aughts by the IRS, vehicle donations of over $500 are officially valued for deduction purposes by their sale amount (usually at wholesale) or by an independent appraisal. In fact, you must provide a copy of such an appraisal if your net auto donation is greater than $5,000. Auto donations with a value of less than $250 are still allowed under the “honor system.”
Regardless of the value of your auto donation, the title must be free and clear. You are also responsible for providing the name and address of the charity, where the actual auto donation occurred (very often your home, if towed), a description of the car or truck and the date when the auto donation took place. If the auto donation is valued there or after the fact at less than $250, you must also have a receipt.
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Auto Diesel/05_automobile donation.txt
posted by Diesel Performance Truck on Jan 28
I have an assignment that needs pics of totalled diesel trucks, preferable at the wreck scene.
posted by Diesel Performance Truck on Jan 26
? Dramatic Decreases in Automobile Donations in 2005 Hurt Legitimate 501 (c)(3) Non-profit Organizations
Though never a large part of the budgets of most IRS sanctioned non-profit organizations (NPOs), recent rulings by Revenue Service (and instigated upon the recommendations of the General Accounting Office and the Senate Finance Committee) have cut automobile donations down quite a bit. Of course, there are plenty organizations that promote the public good through philanthropic and service missions that have need of automobiles. In 2003, the GAO found over 4,000 of them as being registered non-profits with the IRS and accepting automobile donations.
That said, the volume of donations that originated from automobile donations in most non-profits profiled were minuscule compared with stock and property donations over $500. Clothing and furniture donations to thrift stores represented a large percentage of non-cash donations. availability, automobile donations accounted for only 6% of an average NPO’s budget.
Of course, there is no such thing as the average NPO. What has happened has been an increase in the number of people who are selling their vehicles and putting the proceeds towards their favorite charity or purchasing those stocks that will later be donated when they’ve accrued more value. There are also plenty of charities that actually do the selling themselves and take the time to make sales part of their training mission. This allows automobile donations to get a far higher price in the sale, which is useful if your car should be worth more than $500.
This also means that charities that can use a car directly have great need of automobile donations, even though the ever-present ads encouraging taxpayers to do so have become somewhat less prominent since the 2005 tax law changes. Generally, as ad revenues spent on advertising have gone down, so have the frequency of useful automobile donations, and this has sadly impacted some of the charities that can use those types of donations the most: those that serve a disadvantaged population directly through support or training.
As the practice of wholesale selling cars has gone by the wayside, third-party agencies that facilitate automobile donations have become somewhat less profitable, too. These companies, sometimes founded as non-profit organizations themselves, are now required to perform more accurate bookkeeping. As such, the market has shifted a bit to states that still allow these agencies to operate without oversight and the estimated 5% of third-party agents who handle automobile donations who have a non-profit mission themselves.
Many prominent stories that drove congress to finally act were also noted by the general public. Rates of giving declined precipitously in the 2005 tax season, as deduction rates decreased by as much as 90% when third-party agents handled automobile donations.
This is significant, since nearly all the charitable automobile donations in the United States were actually handled by third-party agents – usually for-profit businesses that are only very loosely regulated. At its peak in 2004, vehicle donation programs were thought to represent nearly $1 billion in reported automobile donations.
Partly the impetus for such legislation is the desire to curb any activity that uses charitable donations for private gain. But perhaps just as important to those in the halls of government are the lost revenues represented by the disparity between the revenues actually reported to NPOs versus the amount deducted from individual returns, even legally according to the law as it was written.
Regardless, charities that continue to benefit greatly from automobile donations include many valuable organizations, such as those who directly serve the poor with gifts of vehicles that can mean the difference between a paying job or not. Sometimes the only place one can find available in their price range is out of the range of public transit. Charities that handle automobile donations thusly are always looking for cars and trucks that require minnimal work to be made drivable and capable of being registered in the state.
Other programs include high school or college classes that teach repair classes with automobile donations. Though the market has fallen out of turning over automobile donations for quick profit, charities that legitimately can use your gift remain.
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Auto Diesel/06_Automobile Donations.txt
posted by Diesel Performance Truck on Jan 26
I was just curiuos why do people with diesel trucks leave their trucks idling for so long after they get off.
posted by Diesel Performance Truck on Jan 26
fast diesel trucks at the drag strip!!
posted by Diesel Performance Truck on Jan 26
My father wanted to get a good kill on the grass in our apple orchard, so he mixed 1 gallon of dieself fuel with the usual amount of RoundUp. Now our apples are turning a bright red and dropping, even those we didn’t use a thinning spray on. It this the result of the diesel fuel? If so, how long of an effect will the diesel fuel have on the trees? What about our crop next year? Will the apples that survive be unedible?
posted by Diesel Performance Truck on Jan 24
Does anyone knoew if Isuzu is planning to sell their small diesel trucks in the US?
