ghost face

I believe only if you itemize and it is considered a miscellaneous expense which is combined total excess of 2 % of your agi.

maybe i am not seeing this from all of your views, but the original question was

 

"Upon termination of the employment if the person returns the car by essentially sell the car back to the employer for $0, are their any legal issues/ tax issues associated with this transaction?"

 

to me, it sounds like he's asking if theres any issues if he were to "sell" it back for $0

 

That was my concern. Does the person still have to pay/ report gift tax even though the car was return? Also isn't gifting the car to someone and writing it off as a gift and than receiving back, wouldn't it cause of legal issues?

The car was paid for by the CEO of the organization from their personal accounts, with no string attached. No Stipend in the check. Essentially it was a gift, because it was voluntary from the organization. When I said it was used for business, I meant as transportation from and to work at the same location.

Here is the situation:

 

Say a person receives a car from his/her previous employer and titled the car to the person while the funds were provided by the employer. Upon termination of the employment if the person returns the car by essentially sell the car back to the employer for $0, are their any legal issues/ tax issues associated with this transaction?

 

Additional info: No contract/ legal binding of the car being returned upon termination of the employment. Person used the car for business/ personal uses and fees associated with ownership of the car were paid by the person.

 

 

Obvious solution to the situation is to not return the car, but I am wanting to know if any body have any insight on the matter if the car were to return to the employer.

This is who I use. http://watchandclockservice.com/

 

The person who works there (owner) is pretty knowledgeable about watches.

This is not a phone job. This is where you do behind the scenes works. you work representments you either deny or approve a customer claim, you do a representment to the acquirer bank. Very little customer interaction. dont jump in and pretend you know what this is about.

 

Do you happen to know the ball park range of pay for this is? or referral ?

How are you honestly not understanding this?

 

Parking in the garage 100% of the time and missing only 3 days of class , at $6 per day (I checked the bank statements to verify cost too) comes to $198 at 9 weeks. Add in days where you are not on campus for as much time (classes do end early sometimes) and you easily drop to $180.

 

Do you understand this time? I even said she was only near 100% of the time, she didn't have to pay to park every single time.

 

Now, the original point you made had to do with taking a lot of time. It doesn't take much time to walk from a garage to class. Nice and easy.

 

Does everything make sense for you this time? Did I use simple enough terminology?

 

Like I originally said and what you have admitted to, by missing school, you are saving whopping $22 ($660 for parking in garage / 3 quarters) a quarter on parking.

 

So, you're grossly exaggerating numbers to make your story sound better? Odd, you were accusing me of doing that. It doesn't even matter how many people were in the room if only 250 can register for it. :dumb:

 

People drop classes when they find the difficult. Is that a negative for OSU, no. It's also not a fact if you say "roughly" and have no data. Does Franklin teach anything?

 

Ok, try again.

 

How long have you been going there to not know by now that there are 1 big ass lecture classes that combines all the recitation class? Dropping class is not a huge deal, but curving is. That does portray negative image towards OSU, because they are saying students are getting better grades when they are not.

Seriously? Do you even know the criteria that schools are judged on? Go look it up so you don't make yourself look even more retarded.

 

Edit: Just to add, the current enrollment capacity for BUSMGT 330 - Decision Sciences: Statistical Techniques, is 250 for lecture.

 

Try again, idiot.

 

Ok maybe the ~700 was over exaggerated, but do you know that class was held at Schoenbaum Hall 100 were it fits well over 250 student? Do you know at the time that I took it, that big ass lecture hall was pact full? It still does not change the fact that roughly 50% of students dropped the course when I was taking the class.

 

That is the structure of many classes at OSU. One prof, tons of grad students teaching recitation, and hundreds of students.

1. Odd, I've looked over my syllabi for my last 6 classes and none of them were 12 weeks.

2. Ever heard of holidays and scheduled days off? I've had them every single quarter. This quarter I have 3 days off plus my exams which only take about 30 mins.

3. I handled the bank accounts. There's nothing for me not to accept, we spent $180 for parking her last quarter.

4. It took me 7 minutes to walk from where I parked on Neil to my class in Central Classroom. That's half the time you think it takes from West Campus.

5. Value time all you want, I go to a better school. What's your point there? You can spend a lot more time than I do, and I'll get a better education. Simple fact.

6. Franklin doesn't teach science either? Time is relative, dumbass.

 

Try again, your posts are amusingly retarded. I can't believe it took you 14 minutes to come up with that word salad.:dumb:

 

 

Even at 9 weeks of school, your $180 does not even add up. Unless like I stated she didn't go to school and/ or withholding information to make the argument favorable in your position of cost of parking.

 

So yes by not going to school, you can spend less than 660 on parking. Still has no point to my op where you made the remark about the cost of parking.

Thoughts?

 

Despite my initial problems with OSU im probably going to return and finish out my undergrad @ Fisher simply because the money people are making walking out of there is insane. Like my buddy's GF graduated from Fisher (Logistics) and immediately got inundated with numerous (local) offers starting out @ like $50-60,000/year, she's 22 (or was 22 at the time).

 

Honestly, the major specific courses were not bad at all, but the core business classes were complete bs.

 

One memorable class was the BMGT 330 with ~700+ students. By the end of the quarter I would say ~50% have dropped the class and the prof. was curving like crazy (better education? more like skewing the data)

Does every student go every day? No, moron.

 

Is it 11 weeks? No, that would include finals, moron.

 

Do you seriously not understand this? You're like a fish out of water, just flopping around trying to grasp at something to keep you alive. Guess what, I'm smart enough to know how to work around the system. I could spend less than $150 per quarter easily. I've said a few times now how to do that. Do you not get it or are you just ignoring me?

 

These concepts are not difficult. Want to know why you couldn't get accepted into Fisher? Because you're a complete idiot. That's why you go to Franklin. That's why in your tuition comparison you don't point out that you can waive out of OSU's insurance if you have your own. That's why you don't get simple concepts like parking on streets that don't have meters.

 

 

Its 12 weeks including final so yes it would be 11 weeks. Why would I not go to classes that I signed up for if I valued my education? You still cannot face the fact that, with all the information provided by you, your wife cannot have spent less than $180.

 

I understand that you can park off Neil and waste time looking for parking spots and waste more time by walking from the opposite side of the campus. I never brought up the subject of cost of parking, I brought up the time it takes to go to class.

 

It does seem that we do have different values, as I value time much more than money. As time is a constant that I will never repossess except through my memories and money is something that can be had anytime in the future.

 

 

BTW I did go to Fisher for my junior year of college.

Yeah, visitor garages. Is this a hard concept?

 

My wife's last quarter we spent ~$180 in parking. She was taking 15 hours and went 4 days a week (that's a normal OSU week) . Between the garages and parking on Neil, there was no reason for her to get any tag. That $180 was pretty normal for her quarter too, we might have spent over $220 once.

 

Try again.

 

Really, do you even know how to read? Go back and look what I said again. Maybe this time you'll get how you can split things out and end up saving more money.

 

How about a different comparison. See, my wife hates parking on the street so she got to park in the garage nearly 100% of the time . Me on the other hand, I don't care so much and I only parked in the garages when the weather sucked. That was maybe 50% of the time. Now, try cutting your figures in half to see what you can spend by being intelligent.

.

 

 

Either your wife was not going to school as she said she was, not telling you how much she spent or your ability to calculate and account for parking costs are still wrong. So which is it?

 

Do the math how can someone that spent 100% parking in the garage spend roughly $180 a quarter, when she went to school 4 days a week for 3 hours a day at $2/hr for at least 11 weeks? Are you leaving information out or are you really that illogical.

At $2 an hour, 3 hours a day (at minimum for 15 credit hours) 4 times a week comes out to $96 a month. yea that adds up to $180 per quarter.

 

Biggest university does not equate to the best university. It shows by your ability to calculate and account for parking.

You honestly have no clue what you're talking about.

 

1. There are plenty of garages with visitor parking. You don't need a permit for that ad you can figure out how to not spend a mint.

2. No shit you're supposed to be faculty for an A-tag. How the fuck do you think I have the one I use? Could it be that someone in my family is an administrator at OSU? No, that couldn't be it.

3. It's no wonder you didn't like OSU. You're not smart enough to work around things to make something better.

 

Go back to discussing Franklin, maybe you can actually succeed in that.:dumb:

 

 

Are you talking about garages with visitor parking that charges $2 an hour, where someone may have classes for 3+ hour a day for 5 days a week. Show me concrete numbers where it is cheaper to pay at parking garages/ street meters for 5 days a week at 3 hours a day for 9 months, than $660.

 

I was merely pointing out facts about parking/traffic/ travel time to get to classes.

 

I'll tell you one thing that OSU does better than Franklin, paying the president. #1 in the nation, President Gee is the highest paid president out of the all the public colleges. Congrats.

 

http://images.businessweek.com/ss/09/02/0216_college_pres/2.htm

http://www.huffingtonpost.com/2011/04/04/highest-earning-public-co_n_844217.html#s260381&title=E_Gordon_Gee

No, look online and they say what garages are key card only. An A-tag is more than $500 too, I know because I get to use one secretly.

 

http://tp.osu.edu/students/parking/permitprices.shtml

 

660 + tax for garage parking with limited availability.

 

You cannot get A key card unless you are like a faculty/ staff with a price tag of 720+ tax.

Or you spend a few bucks and park in a garage...:dumb:

 

You mean 600+ for parking? :dumb:

Isn't Franklin (significantly) more expensive than tOSU?

 

 

Not by much. By the time OSU forces the "Healthplan" (complete ripoff because the benefit does not outweigh the cost), and other fees, you are right near 4k.

 

At Franklin it is 4500 per trimester.

 

You might want to also consider the traffic/ the time it takes to go class. If you have less than 90+ credit hours, you have to park at the West campus and it may take you something like 15+ minutes to get to your class after you arrive at OSU. It may not sound like much but the time really does add up.

The only way for you to be admitted into osu's fisher school of business will be to have accumulated gpa of 3.00+ from all colleges attended. Other wise you will need to declare a different major until you achieve the 3.00+ gpa.

 

I was actually in the same shoes as you couple of years ago. Have you attended any classes at OSU before? I have, and for the year or so I went there, I really hated their classroom structure. One professor teaching a class of 500+ with all the hard stuff being covered by some grad students trying to get their doctors or what not. Curving for the idiots who do horrible in class.

 

No matter how you dice it, college degree is just a college degree (as long it was accredited), unless you are going to some ivy college. After couple years of work experience it really should not matter where you went to college.

 

BTW I now go to Franklin, and I like it better than OSU. Franklin is much more punctual when it comes to working with your needs/ paperwork.

Vermillion Ohio is another great weekend getaway place. They have wine vineyards/ farms nearby that sale their goods, clean and not so crowded beach, and a pretty small community that makes you feel like you are living "back in the days".

I have a poker table and pool table in my bar room in my basement...

 

If there is enough interest and people I can host this.

 

Let me know.

 

Whoever is coordinating send me a PM for my number and we can discuss

 

I'm still in as long as the time frame / set up is similar.

No shit, people who notice this in their budget's need to change something in their budget. :fa:

 

This

 

Every penny that oil goes up impacts the cost of products many times during it's trip from start to finish. Not just farm goods, but every product. Then add in materials costs, and the increase in costs this has on those materials. It's easy to see why oil prices skyrocketing can cause big issues. THAT'S what I'm worried about.

 

The economy took it's massive dump a while bck when gas hit $4/gal. It's not hard to see that happening again. Costs are going up which means profits will be down.

 

And This.

 

Except that gas companies will produce record profits once again.

 

I'm so sick and tired of people complaining about gas prices, when people drive SUV with just a driver or even 1 passenger. If someone wants to be a over consumer of gasoline let them, but don't complain to everyone else about it. Its kind of like obese people complaining they are going to die of starvation because food prices are so high. If you don't like gas prices do something about it.

I guess they are smart enough to not use USPS and used FedEx instead.

Put me on the list as well for $20 buyin.

I'm down

I always thought online poker sites would be a great way to launder money through back then.

 

On another note, i think 2+2 is down because of this news.