Let's be honest about these bikes of ours. They are never "finished". There's always a tweek needed here, or a worn part needing replaced. A "gotta have "glitter part. Tires and chain & sprokets wearing out. It is never endig situation.
Don't know why anybody would want a stinkin Vincent when they could have an XS650 Special.
Let's be honest about these bikes of ours. They are never "finished". There's always a tweek needed here, or a worn part needing replaced. A "gotta have "glitter part. Tires and chain & sprokets wearing out. It is never endig situation.
Pretty sure in that situation I would have pushed him to finish the box and THEN said you are right! that wasn't the correct deduction, we better do an amended return.... I've gone around it a time or two with the sales tax folks, but they ain't won yet.Back in '71 I bought a wore-out 20-year-old grunge of a bike. Put a lot of work and $$$ into it. It was good enuff to get stolen in '74. I claimed $3000 in theft loss on my tax return. Later, got audited.
"Sir, we have a problem with this $3000 loss claim on your old motorcycle that only shows a $300 NADA value. So, we must deny your claim, you must refile, and pay enormous penalties and interest."
"But, but, but, I spent a lot of time and money building it."
"Well, sir, if you can produce receipts (*smirk*), we can add that to the NADA value (more smirks)."
Fortunately, I had kept all the receipts, and provided them to the *inquisition* later that day. The examiner (with reduced smirk this time) removed the receipts from the shoebox and started adding them on his push-button, hand lever actuated adding machine. He knew this would take awhile, and wasn't happy about this.
Click, click, click, *ca-runch*, click, click, click, *ca-runch*, click, click, click, *ca-runch*, click, click, click, *ca-runch*, click, click, click, *ca-runch*, click, click, click, *ca-runch*, click, click, click, *ca-runch*, click, click, click, *ca-runch*...
He hadn't even gotten halfway thru the box, looked at the running subtotal, muttered something not suitable for a family environment, stuck all my receipts back in the shoebox, and told me to "Git outta here".
I've been meticulously saving ALL my financial records ever since.
That practice has pulled my a$$ out of the fire on more occasions...
... I would have pushed him to finish the box and THEN said you are right! that wasn't the correct deduction, we better do an amended return...
WELL worth it then!I ruined 6 hours of that guy's life...