No, on the amount of interest accrued each year is taxed. Plus with inflation that money has 4% less buying power every year at current inflation levels.
Actually if you sell a vehicle (or anything else except the home you live in ) for more then you paid for it, it's supposed to be reported...
Of that $5500.00 100% will be taxed. Here we lose 20% to the feds and 9% to the state. That leaves $3905.00 . Not much difference at 3%. I hate paying the government retirement and freebie programs and also pay cash for everything.
Back in November I bought a liquid cooled I9 system with 64 g of ddr5 and a RTX5080 video card. The video card is now worth more then I paid for the whole system 😲. AI inflation is causing price increases across the line, especially energy costs. AI is scary just like Ranger transmissions 😬.
An AI driven crash will be scary and fast. Crypto is another concern. Meanwhile my dealer has really reduced inventory since this started. All the higher end F150s and Rangers are selling like hotcakes. The XLs and XLTs seem to be sitting. $97k F150s with a $8k discount appears to be working...
But at the same time return on investments is at an all time high pretty much keeping seniors ahead of inflation and toys in the budget. I definitely think it will all come crashing down in the near future again.
It's the new Ford Lightning Mini UVFS (utility vehicle for seniors). Walmart friendly so you can drive right in and shop without a scooter. Gonna be the next little big thing.
Well it was sitting there staring at me in the plastic bag and I couldn't resist. I asked the guy putting them out if the bag was bad for me. He said just chew it well and there shouldn't be a problem. No worse for you then the skin. So in the cart it went 🤩 and made it home with no missing...
I hope they take my advice and go full ev with a high efficiency solar panel roll up bed cover option that could supply enough electric to go forever on sunny days and recharge itself on sunny days also for remote locations. I'll be right behind you inline. We love my wife's Forester and it got...