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Buffalo teen who cleaned up after protests gets car, college scholarship
NY Post ^
| 06/07/2020
| Jorge Fitz-Gibbon
Posted on 06/07/2020 12:02:44 PM PDT by DFG
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To: rktman
Hey, Drew Brees....this is what a real MAN looks like.
21
posted on
06/07/2020 12:49:07 PM PDT
by
dfwgator
(Endut! Hoch Hech!)
To: mikey_hates_everything
“How much is a 16 year old Ford worth?”
It’s old, but it looks to be in excellent condition. Is a car considered a classic if it’s 16 years old? Maybe to this kid it’s worth $1million.
22
posted on
06/07/2020 12:49:43 PM PDT
by
MayflowerMadam
(Nothing happens to a Christian that God does not allow to happen.)
To: ltc8k6
The donor can give each recipient up to $15,000 each year to avoid the gift tax. If the donor is married, each spouse can write a separate check for up to $15,000 each year per recipient to avoid the gift tax for a total $30,000 exclusion per year. Tuition payments made directly to a college or medical bills paid directly to a provider are also exempt from the gift tax.
23
posted on
06/07/2020 12:53:30 PM PDT
by
DFG
To: mikey_hates_everything
How much is a 16 year old Ford worth?
A Mustang, depends on condition and mileage. A quick look on Craigslist here in Phoenix has a similar car (red convertible), assuming a base engine asking $3,500. GT version starts at 5K, going as high as $10,000 for a vg condition low mileage GT.An 18 year old should not have the GT.
24
posted on
06/07/2020 1:02:07 PM PDT
by
Dr. Sivana
(There is no salvation in politics)
To: MayflowerMadam
Is a car considered a classic if its 16 years old?
No. Legally, "classic" plates in most states start at 20 years. Here in Phoenix, 20+ year old cars are all over (not much rust) and they are just "old cars". A few cars get the status just after 20 years if it is a significant model that was discontinued (e.g. Roadmaster wagon, Impala SS [RWD], Bronco, Blazer, Supra, Celica, Integra, etc.)
25
posted on
06/07/2020 1:06:06 PM PDT
by
Dr. Sivana
(There is no salvation in politics)
To: DFG
Right, the amount used for tuition is not taxable, but amounts used for other expenses are taxable.
Taxable
You must include in gross income:
Amounts used for incidental expenses, such as room and board, travel, and optional equipment.
26
posted on
06/07/2020 1:09:43 PM PDT
by
ltc8k6
( .)
To: ltc8k6
College scholarship money used for tuition, required fees, and required books is not taxable. College scholarship money used for anything else (eg room and board) is taxable.
27
posted on
06/07/2020 1:15:14 PM PDT
by
DFG
To: DFG
Hey man ... uh we see what you did for the brother. We want Mustangs too.
To: ltc8k6
Thats my point. Shouldnt be much of a tax issue.
To: DFG
GIVING — Just as the Father, Son and Holy Spirit are always giving to us.
30
posted on
06/07/2020 2:09:30 PM PDT
by
Salvation
("With God all things are possible." Matthew 19:26)
To: mikey_hates_everything
It depends on how the donor reports it, I think.
The scholarship - tuition, the car, and the year of insurance all together.
I have no idea what sort of income the student has.
31
posted on
06/07/2020 2:51:53 PM PDT
by
ltc8k6
( .)
To: DFG
Let me guess, he’s black. If it were a white kid, he wouldn’t get anything.
32
posted on
06/07/2020 8:34:45 PM PDT
by
Amberdawn
(Want To Honor Our Troops? Then Be A Citizen Worth Fighting For.)
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