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Random Thought Thread

As you all know, Abby's car got rear-ended and totaled about 6 weeks ago. I paid about 8 or 9 grand for that car and the insurance paid me 12 or 13 for it. So I replaced it with another one just like it, but I think I only gave around 7 grand for it because it had higher mileage. It was also immediately rear ended and totaled. (honestly not her fault, an old lady in front of her was turning off of the road really slowly and the girl behind Abby wasn't paying any attention and piled into her). The insurance company is giving me 12.5 for it.

So, I keep buying these cars that keep getting totaled. For profit. At what point do I get investigated for insurance fraud?

Do I need to pay tax on these proceeds?
 
Nathan the Machinist said:
As you all know, Abby's car got rear-ended and totaled about 6 weeks ago. I paid about 8 or 9 grand for that car and the insurance paid me 12 or 13 for it. So I replaced it with another one just like it, but I think I only gave around 7 grand for it because it had higher mileage. It was also immediately rear ended and totaled. (honestly not her fault, an old lady in front of her was turning off of the road really slowly and the girl behind Abby wasn't paying any attention and piled into her). The insurance company is giving me 12.5 for it.

So, I keep buying these cars that keep getting totaled. For profit. At what point do I get investigated for insurance fraud?

Do I need to pay tax on these proceeds?
Click to expand...
they will find a way to make you accountable for money coming in. I'd bet on it.
 
The Amazing Virginian said:
I don't know much about trucks, but last week I ran into a dude at a brewpup, and he had a truck that I thought looked kind of cool, so I asked him about it. He was more than happy to open the hood, let me look around inside, and tell me all about it. He was a real friendly fellow. It was a Shelby Cobra Ford 150 (I think I got that right). It had a supercharged 5 litre engine that pumped out more than 700 HP (I think he said it was 770?). I thought it was pretty badass that you could get that much HP out of a 5 litre engine. And, again, the truck just looked pretty cool to me, although I'm guessing it was probably fairly expensive.

So, Truck People . . . is that a cool truck, or is it fairly pedestrian and I was just easily impressed due to my own ignorance?
Click to expand...
I think they're pretty cool.... I may or may not have done doughnuts in one before it went on the lot hahaha
 
Nathan the Machinist said:
As you all know, Abby's car got rear-ended and totaled about 6 weeks ago. I paid about 8 or 9 grand for that car and the insurance paid me 12 or 13 for it. So I replaced it with another one just like it, but I think I only gave around 7 grand for it because it had higher mileage. It was also immediately rear ended and totaled. (honestly not her fault, an old lady in front of her was turning off of the road really slowly and the girl behind Abby wasn't paying any attention and piled into her). The insurance company is giving me 12.5 for it.

So, I keep buying these cars that keep getting totaled. For profit. At what point do I get investigated for insurance fraud?

Do I need to pay tax on these proceeds?
Click to expand...
Ride that wave friend.... ride that wave! lol
 
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