Does the Captain want a New Busa?

[ks-waterbug]

Why not set up a special account at Captains local bank. Just like they do for memorial funds, etc...... That away you can donate with almost any form of payment! Trust isn't a problem and the money is insured, protected, & audited. Not sure about the tax liability.......... I personally don't have a problem sending money to the person who came up with this idea. But, I do understand why people are gun shy about sending this kind of cash to any member!

 

[OnAHiABusa]

I was curious about the tax question, so I logged onto irs.gov and tried to look it up. I wound up on pub 525 pg. 26 where it said gifts are generally not taxable. I'm not an accountant, just a simple engineer and admit I haven't been trained to read the hidden meanings of the tax code, but there it was in black and white. If there are any tax accountants out there, you may want to support or correct me. Oh, that's right, you guys don't do anything without the meter running. Prove me wrong??

 

[Dr Geekenstein]

Short, Sweet, no suggestions from me, there are enough out there already.

I am in, just waiting on final instructions as to where to send the check (PayPal is my choice:-)

 

[maoz]

I'm in my final year of law school and am currently taking tax law, buy I'm no accountant. Captain would not have to include this gift into his gross taxable income because it is a result of detached and disinterested generosity, and out of affection, respect, admiration, and charity. See Section 102 of the Code for this. Furthermore there is no quid pro quo for this gift.

As far a gift tax, the first $10,000 a donee (that would be Captain obviously) receives in a year is not subject to the gift tax. It doesn't matter if Captain is given money or a Hayabusa worth $11,000 (or whatever they are worth new), it is still a gift and subject to the gift tax for whatever the value of the Busa is at the time of the gift over $10,000 or the sum of money over $10,000. There is an 18% tax on the amount over the $10,000 limit. See Section 2501, 2503(b)(1), generally.

 

[Bugs]

I'm taking 6 months parental leave starting Feb... s'pose I could drive from here weave through the states collect each persons money, dekiver the bike and be back to work by Aug?Hhhm.....
Probably not, wife thinks I'm going to be sittin' or sumthin. Daughter'd be a year old and I would miss 6 mos of her life.

Prolly wouldn't get outta the drive...

 

[Jester0769]

ok people. I hate to sound like an ass hear and not waiting for everybody to make the decision.

SEND ME YOUR MONEY!!

Outlawjester@aol.com

Josh Burris
1300 N.W. Parkway
Azle Tx, 76020

Now you all know where I live. This way, If the money just goes bye bye, you can find. (this is also my work addy so you know Im not goin anywhere!!)

Ill take checks, money orders, cashers checks, pay pal, and if your close enough, Ill come pick it up from you. (gives me a good reason for a ride on the weekend)

Ill set up a spreedsheet for me with names and donations, for the board just a name and saying that thay donated.

Once the money gets into my account Ill scan the monthly statment, cross out account numbers and other personal info and post them up so people know just how much we have.

When we have enough Ill let Cap know its time to buy a busa and get ready. Email will go out to everybody that donated to the fund. I will let you all know when and where were goin shopping and then "invite" EVERYBODY!!!!

Will be a BIKE BUYIN PARTY in OKC!!!

Ps. If people start sending money and then deside to have someone else take it on, Ill be more than happy to pass it off. Ill pass it off by hand or electronic transfer.

LETS GET THIS THING STARTED AND CAP BACK ON A BUSA!!!!!!!!

LET THE MONEY SENDING START.....................RIGHT NOW!!!!!!!

 

[cache]

Ill set up a spreedsheet for me with names and donations, for the board just a name and saying that thay donated.

Once the money gets into my account Ill scan the monthly statment, cross out account numbers and other personal info and post them up so people know just how much we have.

way to go josh.

let me know if you want me to do any tracking, research, etc... keep in mind I work in retail even though I am fleet, but have been involved in all aspects of all departments.
let me know what you need help with.

cache

 

[Jester0769]

Thanx Cache,

I will keep you in mind thats for sure. As of right now all I need your CASH Cache!!!!

Ha ha, I made a funny.

Josh

 

[cache]

Q - when you receive funds, are you going to put it into a secure account? interest bearing acct? DETAILS!!!

 

[Jester0769]

account gains like 1 or 2% a month. Its an account in my local bank under my name. Its not connected to any other account so I can draw funds, its totaly by its self. I even have to have the teller look up the number for me because I dont have the account number handy.

anything else?

 

[WWJD]

Is this the FINAL answer then? Jester is the banker for sure? I'm ready to send my promised amount...

 

[OnAHiABusa]

Check's on the way.

 

[Thinker62]

Man did we make that hard. I know Jester and have full trust. However, as someone else suggested, it would be prudent and eleminate any suspicion or possibility of fraudulent accusations if there were a second (independent) person, who was informed when money was sent to Jester. That way, there would be a check and balance. It would protect Josh as much as anyone else. Actual donations wouldn't be divulged, but Jester and the other person could compare notes and report the validated totals to the group.

I would be happy to create a spreadsheet & do that if you guys want.

let me know

 

[cache]

if there were a second (independent) person, who was informed when money was sent to Jester

cc deposit to captain

 

[Jester0769]

Thinkers,

If your up to it, everytime I get a check or paypal deposit, youll get a email. Just a name and a "yes" that thay donated.


Thanks man for the trust and the backing.

Josh

 

[jwcfbd]

Jester's got it. I just sent my part.

 

[Thinker62]

I will wait for possible further instructions. In the meantime, i will send my cash soon.

Did anyone ever come up with a forecast based on that poll?

 

[ksheldon]

If this happens I am in - this site makes riding a Hayabusa more interesting - let me know where and when.

Kent Sheldon

 

[jwcfbd]

If this happens I am in - this site makes riding a Hayabusa more interesting - let me know where and when.

Kent Sheldon

Right here and now.

 

[bronc3]

Has anyone mentioned getting Suzuki America involved?They might cut the Captain some slack,since the Busa is promoted here.