Where is the money from the Pinks car going?

[PaulFiveOh]

In lieu of this recent, major, development on SBZ...

....I was curious where ALL the money is going for the Stangbangerz car.

If I am the only one who does not know, feel free to school me.

[Mr.Moontang]

If you read the Ebay add it says to the family...

[Adam@S&MMotorsports]

Kellys taxes HE had to pay on both cars.:)

[92BlackStang]

too blackhole...............

[PaulFiveOh]

Kellys taxes HE had to pay on both cars.

Thats actually what I was getting at.

Thats why I said ALL the money.

[ewalt]

too blackhole...............
LMFAO!

[Black Hole]

too blackhole...............
Nope...not a penny.

Kelly made an agreement with Holly before the build began, but honestly he's the owner so he can do whatever he wants with the proceeds of the sale.

[92BlackStang]

i think he needs to put the money into another site and get everyone back on track... you sir can kiss my ass

[beefcake]

just so everyone knows, i am getting nothing other than the listing fee for the pinks car.

i was asked to do it because i have ebay experience.

Also, in fairness to Kelly. He received a huge 1099 that I am sure most are not aware of not only for the car that was won, but the sbz pinks car as well.

turns out, the car was an "entry" fee, and by winning, you have to pay taxes on the won car as well.

i think kelly received something like a $30,000 1099 from "pinks"

[wht_stang]

I can say right now if i find out that one penny doesnt make it to her ill be boycotting this site PERIOD

[PaulFiveOh]

HOLY shit!

Does that mean he has to pay 30k? OR taxes on 30k?

[PaulFiveOh]

I can say right now if i find out that one penny doesnt make it to her ill be boycotting this site PERIOD

You going to pay the fuggin taxes on it then? WTF

[92BlackStang]

just so everyone knows, i am getting nothing other than the listing fee for the pinks car.

i was asked to do it because i have ebay experience.

Also, in fairness to Kelly. He received a huge 1099 that I am sure most are not aware of not only for the car that was won, but the sbz pinks car as well.

turns out, the car was an "entry" fee, and by winning, you have to pay taxes on the won car as well.

i think kelly received something like a $30,000 1099 from "pinks" so how much money would that cost kelly ???

[PaulFiveOh]

Taxes on $30k....about $2k.

Wow, thats a damn chunk of change.

[Adam@S&MMotorsports]

Honestly, I don't think it's any of your business. This conversation already created enough drama between Holly and Amanda courtesy of Craig.......just let it go.

Taxes on $30k....about $2k.

Matt, you are a COWARD picking on girls on a website. Good job guy.

Here,;)

[92BlackStang]

coward isnt the word... fuckin pussy is what id call him on here or to his face ....

[Black Hole]

Matt, you are a COWARD picking on girls on a website. Good job guy.

Here,;)
How am I a coward and how am I picking on girls? I didn't cause all of the drama....you did and you chose to air it out on here in public. THAT's pathetic.:(

[92BlackStang]

no your pathetic matt , you do realize that this is gonna be a long time thing hope you enjoy stayin home and not comin to the track bc as soon as a few poeple see youat the track you might as well get a rock picker upper and pick up the rocks thrown at your car

[Adam@S&MMotorsports]

How am I a coward and how am I picking on girls? I didn't cause all of the drama....you did and you chose to air it out on here in public. THAT's pathetic.:(

Keep thinking that way guy. You are doing a GREAT job.....;)


I ranted about some drama in the admins area, not the general area. Besides, I apologized to Holly for it and Im truly sorry for what I said.


So have a nice day.;)

[Rich]

Taxes on $30k....about $2k.

Way more than that...

[leroy93lx]

Thats like an income tax, so like 30-37%, they are looking at around $9000 in taxes if it goes thru as an income tax! DING O LING!!!!

[Rich]

Thats like an income tax, so like 30-37%, they are looking at around $9000 in taxes if it goes thru as an income tax! DING O LING!!!!


Don't forget local and state will get some also. When all said and done, depending on Kelly's other income, it could be very close to 12k owed in taxes.

[WhiteT]

He just needs a good CPA. A lot was spent to make that $30K. Parts, gas, hotel rooms, food, etc, etc,.... A good CPA will get that $30K down to almost nothing.

[beefcake]

i believe federal will probably be about 20% if i'm not mistaken, but i don't know for sure

i thought thats how they taxed that kind of stuff, that could be $6k right there

thats not counting state

[Rick93coupe]

If the car is up on Ebay, why isn't there a link on here? I'm sure there are people who would want to bid on it.

[Rich]

The fedral income on a 1099 form gets taxed at the same rate as the rest of your federal taxable income for the same year, maybe more if the 1099 income puts your total income in a higher taxable bracket.

I went through this about 8 years ago...it sucked!

[black90lx]

I can say right now if i find out that one penny doesnt make it to her ill be boycotting this site PERIOD

Nobody fucking cares. Kelly is not going to screw anybody over, he is one of the most honest people I have ever met.I have known him for about 15 years or more. So get to know somebody before you start talking shit!

[Black Hole]

If the car is up on Ebay, why isn't there a link on here? I'm sure there are people who would want to bid on it.

Uhh....LINK (http://www.stangbangerz.com/forums/showthread.php?t=42824&highlight=ebay)

[PaulFiveOh]

pthe most honest person I have ever met.]

I second that, whole heartedly.

[Rick93coupe]

Uhh....LINK (http://www.stangbangerz.com/forums/showthread.php?t=42824&highlight=ebay)

Must've missed it here this afternoon, but I did see it on another site.

[WhiteT]

The fedral income on a 1099 form gets taxed at the same rate as the rest of your federal taxable income for the same year, maybe more if the 1099 income puts your total income in a higher taxable bracket.

I went through this about 8 years ago...it sucked!

Part of my income comes with a 1099. Taxes are the same for the most part, but you have to pay double the social security b/c you don't have an employer paying half. Also, it's way easier to right stuff off. See my post above.

[89notch]

Not thats its anyones business but the taxes were 23k and right now I owe 4800 but we filed an extension and my tax lady is trying to figure out if what I can and cant write off. To anyone who thinks that Amanda will not get any money go FUCK YOURSELF The pinks crew and people that donated put alot of work into those cars to do what I think Vinny would want done and thats taking care of his wife and daughter so thats what I'm doing with the money. I have complete control over the money and I will be sure that I put amands half in her trust fund that has already been started.

[92coupe]

Not thats its anyones business but the taxes were 23k and right now I owe 4800 but we filed an extension and my tax lady is trying to figure out if what I can and cant write off. To anyone who thinks that Amanda will not get any money go FUCK YOURSELF The pinks crew and people that donated put alot of work into those cars to do what I think Vinny would want done and thats taking care of his wife and daughter so thats what I'm doing with the money. I have complete control over the money and I will be sure that I put amands half in her trust fund that has already been started.

Sounds like the right thing to do. ;)

[93hulk]

Why do we have to keep goin through all the same shit. I cant wait till this shit is over with. Im about done with this site.:mad:

[blueoval4ever]

The fedral income on a 1099 form gets taxed at the same rate as the rest of your federal taxable income for the same year, maybe more if the 1099 income puts your total income in a higher taxable bracket.

I went through this about 8 years ago...it sucked!
Rich is right on the money, I just went through the same thing this year, unless he has a lot of expense receipts it will be way more than 2k. In my case it was taxed at about a 20% tax rate.

[tmotorsports]

Way more than that...

nope I paid Not quite 2k on $40K capital gains.If your tax person knows alot you should be able to get yours down to around that.

[blueoval4ever]

nope I paid Not quite 2k on $40K capital gains.If your tax person knows alot you should be able to get yours down to around that.

Income tax is higher than capital gains tax. 1099s are reported as personal income.

[347sc]

I know its a fucking shame that someone did a wonderful thing for fellow member and people still continue to talk shit about him. Way to show respect for that and Vinny and his family.
I have no doubt that the money will go where it is intended. Kelly and everyone involved did a kickass job.

Drop the bullshit.
Paul what the fuck were you thinking when you typed that?

[wht_stang]

Nobody fucking cares. Kelly is not going to screw anybody over, he is one of the most honest people I have ever met.I have known him for about 15 years or more. So get to know somebody before you start talking shit!
excuse me!!! Dude looks like you're the one that needs to chill out here. I simply put that if this money doesn't go to what it was initially all set up for I'm gonna be highly pissed. And to quote your own words get to know somebody before you start talking shit! And seriously this site has been going to shit for bout the past year or so why do you think I haven't come around till lately. So, yeah the way things have been looking this whole situation worries me. A lot of people put massive amounts of blood, sweat, and tears into the whole pinks thing all for Vinny's family especially his little girl and it would be a shame if it got screwed up.

[347sc]

A lot of people put massive amounts of blood, sweat, and tears into the whole pinks thing all for Vinny's family especially his little girl and it would be a shame if it got screwed up.

Remember he had a wife too. Can you imagine what she is going thru? The bills,legal and emotional stress is enough to do you in.

Amanda will get her half.I do not think anyone involved wants to keep it from her.

[PaulFiveOh]

Paul what the fuck were you thinking when you typed that?

It came off wrong. I was wanting it to go a whole different direction.
I fucked up. Straight up.

Me & Kelly all ready talked about it, I know I fucked up. You know just as well as he does that I have his back through thick and thin. Same goes for you.

What matters is this: The people who's opinion we value collectively as SB all know that this whole thing was legit and that Kelly & his build crew spent fucking months on this thing. The people that WE care what they think, ALL know how truly wonderful the tribute car is.

[347sc]

I didnt think you were meaning to slam Kelly but the can of worms it opens is endless.

Thanks Paul, friends are hard to come by these days. Its all good.

[Stangman]

subscribing

[PonymanfiveO]

subscribing


Thanks for making us aware of every thread you subscribe to.

Its important that we all know. :rolleyes:

[PaulFiveOh]

subscribing

Yea seriously, try adding something of fucking substance.

[Stangman]

Fuck you all, I'll post what I want, When I see a designated "Subscribe" button I'll push it, in the mean time, If I feel that I want to view a thread and stay out of it without digging through the forums to find it I feel I should be able to simply put "subscribe" without getting hacked on for no fucking reason. Go back to your battle at hand and leave me alone. This is a free country and a free forum... for now.

[cobrajoe]

Fuck you all, I'll post what I want, When I see a designated "Subscribe" button I'll push it, in the mean time, If I feel that I want to view a thread and stay out of it without digging through the forums to find it I feel I should be able to simply put "subscribe" without getting hacked on for no fucking reason. Go back to your battle at hand and leave me alone. This is a free country and a free forum... for now.

Guess your gonna have to use this!
:popcorn:
:lol:

[black90lx]

excuse me!!! Dude looks like you're the one that needs to chill out here. I simply put that if this money doesn't go to what it was initially all set up for I'm gonna be highly pissed. And to quote your own words get to know somebody before you start talking shit! And seriously this site has been going to shit for bout the past year or so why do you think I haven't come around till lately. So, yeah the way things have been looking this whole situation worries me. A lot of people put massive amounts of blood, sweat, and tears into the whole pinks thing all for Vinny's family especially his little girl and it would be a shame if it got screwed up.

Well you don't have to worry about it. The right thing will be done.

[BMF_RACING]

no your pathetic matt , you do realize that this is gonna be a long time thing hope you enjoy stayin home and not comin to the track bc as soon as a few poeple see youat the track you might as well get a rock picker upper and pick up the rocks thrown at your car

Sorry to say it, but this shit above is true & will happen. It will not be the same for you in public after the comments that you have posted on here in the past 72 hours.

Good luck with that and enjoy.:bigthumb

[BigBadStang]

This is rediculous. I am pissed of at myself for getting sucked into commenting about this, I always stay out of this shit...until now! Some guys/gals pull together and work their asses off for a good cause, and an unforseen obstacle sends all the pessimistic, money driven, black hearted people into an uproar claiming they can see the future, and "know" whats going to happen. These are the same people that probably didn't donate shit to the project, and were giving Kelly flack way back in the beginning stages of this project.
I would suggest that all the negative people shut the fuck up until this is all over with.
Then, AFTER all the loose ends are tied up, and if something went wrong in your eyes, and YOU personally had a "vested" interest, then you can beat your gums about it.
Until then...cool it, there is enough bullshit, crying, pissing and moaning going on here to drive anyone fucking nuts. If I wanted to hear all this crying, "he said she said" bullshit, and finger pointing, I would go to a fuckin daycare center.

[beefcake]

This is rediculous. I am pissed of at myself for getting sucked into commenting about this, I always stay out of this shit...until now! Some guys/gals pull together and work their asses off for a good cause, and an unforseen obstacle sends all the pessimistic, money driven, black hearted people into an uproar claiming they can see the future, and "know" whats going to happen. These are the same people that probably didn't donate shit to the project, and were giving Kelly flack way back in the beginning stages of this project.
I would suggest that all the negative people shut the fuck up until this is all over with.
Then, AFTER all the loose ends are tied up, and if something went wrong in your eyes, and YOU personally had a "vested" interest, then you can beat your gums about it.
Until then...cool it, there is enough bullshit, crying, pissing and moaning going on here to drive anyone fucking nuts. If I wanted to hear all this crying, "he said she said" bullshit, and finger pointing, I would go to a fuckin daycare center.

exactly.

i do firmly believe kelly to be a stand up guy, i have never seen anything to make me think otherwise.

[shep]

just know it's going to a good cause...someone please lock this thread....

[wes 89 gt]

i cant believe people would expect kelly do anything like this. I have met kelly a few times and he is a great guy i actually bought a 5.0 from him this past summer.