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 Post subject: Re: buying golf in SF Bay area without access to caif rebat
PostPosted: Mon Mar 20, 2017 9:21 am 
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johnnylingo wrote:
bizzle wrote:
my wife and I tracked pricing before finalizing a deal even holiday sales and end of month/quarter sales were only about $500-$1K off.


It's all timing. Hayward was doing 20% off MSRP back in July and Sunnyvale wasn't far behind. I've always felt late summer/early fall was the best time to get a car. The new models come in and the dealers get under pressure to move inventory.

bizzle wrote:
the full $7,500 tax credit. My suspicion without seeing my taxes this year yet is that you have be earning well above six figures to realize the full credit (since it's not a rebate)


Not true. Someone making $50k/year pays $1855 + 15% so that's a federal tax liability of over $9k. Of course realistically they're going to have deductions, but point is a gross income of say $65k+ should realize the full credit amount.


It's over 6 figures if you have qualified dividends as a good portion of your income, and capital gains as the other portion, being retired and trying to qualify for the 7500 federal tax credit.

I knew when I bought my 2015 SEL that I would probably never see the deal I did again from VW of America. I can afford to run it until it needs a new battery. before buying another electric car. Lately, my range has been showing 123 to 124 miles on the guess o meter on a full recharge. Same route, same driving style, temps in the high 70's to low 80's. Full charge, then drive immediately. New, it showed 129 miles. I usually try to drive 70 to 110 miles on a recharge, leaving 45 to 9 or 10 miles of charge on the battery.

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 Post subject: Re: buying golf in SF Bay area without access to caif rebat
PostPosted: Mon Mar 20, 2017 12:04 pm 
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Location: Santa Cruz, CA
JoulesThief wrote:
being retired and trying to qualify for the 7500 federal tax credit.


Well yeah, a retiree wouldn't hit $7500 in fed taxes unless they have high investment income. Generally speaking, someone in that situation would be better leasing or buying used. But everyone's financial situation is unique.

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 Post subject: Re: buying golf in SF Bay area without access to caif rebat
PostPosted: Mon Mar 20, 2017 5:17 pm 
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I've also heard of people moving Traditional IRA funds over to Roth to order to get that $7500 taxation. I don't recommend it unless you really know what you're doing.

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 Post subject: Re: buying golf in SF Bay area without access to caif rebat
PostPosted: Mon Mar 20, 2017 7:00 pm 
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johnnylingo wrote:
Not true. Someone making $50k/year pays $1855 + 15% so that's a federal tax liability of over $9k. Of course realistically they're going to have deductions, but point is a gross income of say $65k+ should realize the full credit amount.

Not much sense in having a discussion with someone who writes, "realistically they're going to have deductions" but then completely ignores those deductions to make an unrealistic argumentative point :\


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 Post subject: Re: buying golf in SF Bay area without access to caif rebat
PostPosted: Tue Mar 21, 2017 9:15 am 
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bizzle wrote:
johnnylingo wrote:
Not true. Someone making $50k/year pays $1855 + 15% so that's a federal tax liability of over $9k. Of course realistically they're going to have deductions, but point is a gross income of say $65k+ should realize the full credit amount.

Not much sense in having a discussion with someone who writes, "realistically they're going to have deductions" but then completely ignores those deductions to make an unrealistic argumentative point :\


Everybody's situation is different. That's why we hire experts and professionals to do things we aren't skilled at, like CPA's to do your taxes.

Some people here are fanatics, and want everyone else to be driving an electric car too, for whatever altruistic reason or agenda they have of their own.

Once the tax credits and subsidies are gone, we will see how Electric cars stand, on their own true merits. I won't personally be looking forward to solar farms all over California, myself, to power all these cars. Waiting to see how it will affect the electrical utility infrastructure, and it being a government regulated and controlled resource. I see that as problematic, compared to oil companies, providing gas and diesel at free market prices. Can't put solar panels on the townhouse roof where I live, but given a choice, I would love to be off the grid.

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 Post subject: Re: buying golf in SF Bay area without access to caif rebat
PostPosted: Tue Mar 21, 2017 12:10 pm 
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JT, California law is on your side against your HOA if they're claiming rules don't allow solar panels. I went through this with my HOA. The larger issue is roof space, however, since we barely cut even given the limited roof space and the fact the utility co. tried to bump us out of NEM 1.

And yes, everyone's tax situation is different, which is why I stated, "without seeing my taxes" meaning if I were making a blind guess and not actually going through the tax tables. In context, it's a silly rebuttal to point out that someone just ran raw income through a tax table and came up with an appropriate tax liability without acknowledging deductions because even if it's true that some hypothetical person earning $65K could realize the full tax credit, it doesn't necessarily follow that someone else earning $85K would.

I suppose I could have worded the sentence better but the point I was making was to be careful with the assumption that everyone selling an eGolf on the used market should be reducing their asking price by $7500 since everyone who wants to buy one will automatically qualify for the federal tax credit.


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 Post subject: Re: buying golf in SF Bay area without access to caif rebat
PostPosted: Tue Mar 21, 2017 1:48 pm 
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Location: Santa Cruz, CA
bizzle wrote:
Not much sense in having a discussion with someone who writes, "realistically they're going to have deductions" but then completely ignores those deductions to make an unrealistic argumentative point :\


The average American pays $9k a year in Taxes

Sure, everyone's tax situation is unique, just like it says in the fine print at the end of the H&R Block commercial. Point is, one does not need a 6 figure income to get a $7500 liability

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 Post subject: Re: buying golf in SF Bay area without access to caif rebat
PostPosted: Tue Mar 21, 2017 2:12 pm 
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RonDawg wrote:
I've also heard of people moving Traditional IRA funds over to Roth to order to get that $7500 taxation. I don't recommend it unless you really know what you're doing.


Moving would entail a tax hit and perhaps some fees, but simply changing your contributions to Roth in the year you buy the car wouldn't be a bad idea at all. Much better to set aside money for a tax-free retirement (which is smart regardless) than forfeit money from Uncle Sam.

Roth 401ks are an even better option since they go up to $18k/year vs. the IRA's only $5500.

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 Post subject: Re: buying golf in SF Bay area without access to caif rebat
PostPosted: Tue Mar 21, 2017 2:58 pm 
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johnnylingo wrote:
Point is, one does not need a 6 figure income to get a $7500 liability

No one said. Try reading and comprehending the point being made that you are attempting to refute, bud.

The funny part is that the link you provided actually supports my point better than yours.

Only 4 out of 5 people earning under $75K had income tax liability whereas 98.8% of $75-200K incomes had income tax liability.
$25-50K: $1,871 in taxes
$50-100K: $6,251 in tax liability.
Over 100K: $17K in tax liability.


The average tax return shows adjusted gross income of $65,751, and the average taxable return has AGI of $94,284.


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 Post subject: Re: buying golf in SF Bay area without access to caif rebat
PostPosted: Tue Mar 21, 2017 4:18 pm 
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Location: Santa Cruz, CA
bizzle wrote:
Try reading and comprehending the point being made that you are attempting to refute, bud.


In fairness, you weren't very clear on who your statement applied to. "You" in the English language can refer to both a single person or a general group of people. I was simply trying to clear up a statement that I considered inaccurate, not pick a fight. For my part I should have noted that my numbers referred to single filers with no dependents. A married person with kids and a jumbo mortgage would come in a different numbers. As would a retiree or a student. We can all agree tax liabilities depend on a variety of factors.

However, please don't get snippy. It's really uncalled for and has no place here.

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