AOPA Twin Comanche

Dave S wrote:

Whats the value of the Twin Commanche?

According to AOPA, the current value of the "project" is $225,500.

And.. 30% of that is??? (just
rough round numbers...)

$67,650.

And in my case, the State of New Jersey wants their 6% income tax and 6% usage
tax, for an additional $27,060.

George Patterson
If a man gets into a fight 3,000 miles away from home, he *had* to have
been looking for it.

Nathan Young wrote:

I would keep it, fly the heck out of it, and smile all the time... I
wonder what the cost basis is for the plane for tax purposes?

$225,500. So far.

George Patterson
If a man gets into a fight 3,000 miles away from home, he *had* to have
been looking for it.

I'd finance part of it for what I need to pay the taxes and a few years
insurance and fly it for a while.. and see what happens then.. I'm sure AOPA
would "cover expenses" to have it show up at a few airshows or Conventions
sponsored by AOPA for membership marketing purposes.

BT

"Rosspilot" wrote in message
...
Just wondering what you guys would do with that sweepstakes airplane if
Phil
called you up and told you it was yours.

Keep or sell?



www.Rosspilot.com

no income tax here... but it would hit the "personal property tax" which
would be about $2K per year

BT

"G.R. Patterson III" wrote in message
...


Dave S wrote:

Whats the value of the Twin Commanche?

According to AOPA, the current value of the "project" is $225,500.

And.. 30% of that is??? (just
rough round numbers...)

$67,650.

And in my case, the State of New Jersey wants their 6% income tax and 6%
usage
tax, for an additional $27,060.

George Patterson
If a man gets into a fight 3,000 miles away from home, he *had* to
have
been looking for it.

In article ,
ospam (Rosspilot) wrote:

Just wondering what you guys would do with that sweepstakes airplane if Phil
called you up and told you it was yours.

Keep or sell?

Sell my 140 and try very hard to keep the comanche.

and I'd have a ball explaining to a certain Mike D. how I got
his airplane (inside joke).

--
Bob Noel

God Bless Texas

No personal property tax on personal use airplanes..

No State Income Tax.

Dave

BTIZ wrote:
no income tax here... but it would hit the "personal property tax" which
would be about $2K per year

BT

"G.R. Patterson III" wrote in message
...


Dave S wrote:

Whats the value of the Twin Commanche?

According to AOPA, the current value of the "project" is $225,500.


And.. 30% of that is??? (just
rough round numbers...)

$67,650.

And in my case, the State of New Jersey wants their 6% income tax and 6%
usage
tax, for an additional $27,060.

George Patterson
If a man gets into a fight 3,000 miles away from home, he *had* to
have
been looking for it.

Dale writes:

If I could swing the insurance I'd keep her for a while at
least...assuming I could pay the taxes.

If I had a pig, I could make a ham-and-cheese sandwich, if I had a cow
to make milk for cheese.

I'd sell the damn thing. The taxes would kill me.

"BTIZ" writes:

no income tax here... but it would hit the "personal property tax" which
would be about $2K per year

You don't live in the US and thus not subject to Federal income tax?

"Kyle Boatright" writes:

then build an RV-3A so
I can bring out even more of my inner fighter pilot...

Ahhh...one of those personality types that we were talking about in
another thread...that raises statistical accident rates....:-)

"Bob Fry" wrote in message
...
"Kyle Boatright" writes:

then build an RV-3A so
I can bring out even more of my inner fighter pilot...

Ahhh...one of those personality types that we were talking about in
another thread...that raises statistical accident rates....:-)

"Those" people are dangerous, no doubt.

I, on the other hand, have an excellent safety record and plan to continue
to only *contemplating* stupid things, instead of actually doing them.. ;-)