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New Used Car Texas Tax Law

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Old 11-17-06 | 05:41 PM
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Richter12x2's Avatar
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Sweet, then you won't care either when they impose a flat federal income tax with no need for preparing your own taxes or those pesky deductibles, because that would just be 'closing another loophole that allowed people to exploit the system'?

And it does have an effect on people who were doing it right to begin with, because now the burden of proof is going to be on them to prove that the car isn't worth full book value. Then we're going to be putting it into the hands of bureaucrats to determine whether the 20 year old carpet REALLY needs replacing, and whether it's REALLY worth knocking $600 off the book value, or whether matching the factory paint is going to REALLY be worth $3000 (right, Tessai?)

I foresee these tasks being delegated to people who don't have any idea what the value is of work done to a car, so therefore, I see the State of Texas releasing a 'memo' to State Employees as far as what is permissible, as a blanket, allowing x amount of deductible for replacing carpet, or engine, whether your car is an 89 Toyota Tercel or an 89 Ferarri Testarossa. But wait, that's not all! When the information on how much the State of Texas allows for paint, carpet, engine, etc, is leaked, then the insurance companies will consider it justification for lowering the amounts that they pay in the event of an accident!

Or aren't you familiar with the news within the last year regarding the Denton County Appraisal District, and how they were using their 'powers' to increase taxes for some houses by an incredible percentage, while somehow their own houses, and those of others in the local government, remained the same, year after year?

Last edited by Richter12x2; 11-17-06 at 05:49 PM.
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