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Once again, it's time for the FNGT!

If you don't know how this works, . That link will take you to another site to give you some additional information and tell you about some of our off-site features. That's also the site where we will host the weekly guitar threads, should Poal go down.

NOTE: That site is by invitation only. If you want an invite, and you're a regular participant, then just ask Crazy, or myself.

If you do know what's going on, you probably don't need to click that link - but you may want to, to make sure you know of the other features, such as the archive or a separate forum that's invite only.

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**Once again, it's time for the FNGT!** If you don't know how this works, [click this link](https://fngt.gq/index.php?page=intro). That link will take you to another site to give you some additional information and tell you about some of our off-site features. That's also the site where we will host the weekly guitar threads, should Poal go down. **NOTE:** That site is by invitation only. If you want an invite, and you're a regular participant, then just ask Crazy, or myself. If you do know what's going on, you probably don't need to click that link - but you may want to, to make sure you know of the other features, such as the archive or a separate forum that's invite only. Remember, we are guests here on Poal. Let's act like it. If you're interested in supporting Poal, then [you can donate](https://poal.co/donate).

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[–] • 0 pt

I got to write a lot off as investments. But, I still made money on those investments.

If I invest a car at 50k and it's worth 70k, that's 20k the gov wants to tax - but only when I sell it, or if I just pay the gain immediately. It's often better to pay the current tax rate than it is to wait for a lower rate, 'cause lower rates don't really happen all that often. Plus, money gains in value. Plus, I had to pay the capital gains on everything I sold/l\liquidated.

Roughly speaking - assuming you got all the money tax free... (Ha! That's not gonna happen!)

If you took my taxes and invested in low-yield/high surety investments that pay dividends... Again, this assumes you got all my taxes as a lump sum and didn't pay taxes on them... You'd have roughly 140k to live on while keeping your nest egg untouched.

Closer to reality, you'd have to live on roughly 75 to 85k per year (after all the taxes are taken care and including your yearly taxes on the gains). If you were a little risky, you'd have about 100k a year to live off. Given your age, you could easily risk that.

[–] • 0 pt

That would be way more than I live on now!

If you can pay the capitol gains now on perceived value of the vehicle I would think that would really save you a whole lot of money in the long run over the actual sale price that you would get if and when you liquidate some of those vehicles. As the value of those vehicles is more than likely going to rise very much over what it is now. Especially if the inflation continues as it has lately. That 70K car could be a 100K car just a year from now. I don't think it will ever be worth less, at least as long as it is in the condition it currently is in.

I am assuming you paid the gains taxes now?

[–] • 0 pt

I paid the taxes on their approximate value at the time of purchase, rather than pay it later. If I happen to sell for less, then I get to write that off. Doing this kept my tax burden from being as high as it could have been. Had I just taken the money out and not invested it within the same fiscal year, I'd have paid a shitton of money. But, it works out a bit better as it's essentially moving money from one asset to the next. So, the burden is better than it could be.

[–] • 0 pt

It seems to me that you are still having to pay a shit ton of money!

But I saw on the Barrett Jackson auction they kept setting records for the highest price for this car or that car, I think the value will just continue to rise on those vehicle investments. It's not like they are making any more, and even if they do, they're not the same as the originals.