Top Market Cars

Archive for July, 2010

Now Is The Perfect Time To Buy A Jeep Wrangler

by Ian Parish
It seems like everyone I know likes the Jeep Wrangler the timing is right to consider buying a newer used Wrangler. They are fun in the sun 4 Wheel drive in the winter and very capable off pavement. There is a large after market of parts available which makes it easy to modify and upgrade.
I tell people I have a Jeep and I love it. They ask what kind of Jeep I say a Jeep Wrangler TJ a Jeep Jeep? yes a Jeep Jeep. The Jeep Wrangler is one of the classic American cars It seems like everyone has a jeep story and everyone wants a Jeep Wrangler. The Jeep Wrangler has a great history starting with the military CJs then on to the CJ5 CJ7 the YJ the TJ and now the new 2007 JK model. Currently the DaimlerChrysler Corporation produces many different Jeeps but over the years they have stayed true to the open body 2 door small 4×4 Wrangler Jeep. Each year they make improvements and add capabilities the Jeep Wrangler Rubicon is a good example of a nice well furnished vehicle that is extremely capable right off the show room floor.
If you are not made of money and cannot afford a brand new 2007 Rubicon Jeep it’s a good time to consider a Jeep Wrangler that is a few years old. The Wrangler TJ was produced from 19972006. This model was a very popular and the used market is flooded with lower mileage clean one owner Jeeps. I am not a car salesmen but I know every car on the market is gently used and only driven to church on Sunday by a nice old lady. But beware when shopping for a Jeep some of them maybe nice and clean others may have been drive hard. Another reason the Jeep Wrangler TJ is a great value is timing. The new model was just released and is in great demand at the dealerships some dealers may have new 2006 models they want to sell cheap to make room for the new JK models.
Another thing to consider is the large after market of available parts to upgrade and modify a Jeep. The Jeep TJ has been on the market for almost 10 years and in that time there has been a lot of really nice parts and accessories developed and refined for this model. Everything from full suspension systems axle upgrades tires wheels bumpers racks roll cages and security systems. If you want a modified jeep but don’t want to pay full price for upgrades do a bit of shopping around. I am sure you can find a Jeep with a lift kit upgraded tires and other accessories ready to go. Remember when you are buying a used vehicle the cost of the upgrades and modifications the previous owner made to the vehicle are severely depreciated. When shopping for a modified Jeep do a bit of research and talk to the previous owner about who did the upgrades and how the Jeep was used where the upgrade work was done and how it was maintained. Jeeps that have been be heavily used off road will show signs of wear that a normal car won’t. Look for scrapes and dents under on the underside of the frame skid plates and the rear gas tank skid plate. These could be a warning signs of future repair needs. A lot of Wranglers have been modified for looks and then spent most of the time driving in town and on the highway.
Once you are the proud owner of a new toy there are lots of things you can do to upgrade and enjoy your new jeep. You can just take the top off and go for a summer cruise or you if you are interested in major upgrades the parts and help is certainly available. Over the years I have helped a lot of my buddies and answered a lot of questions the most popular question is about about matching bigger tires and lift kits together. What size tires can I use with a 3 inch or 4 inch lift or what type of lift and work is needed to fit 33 or 35 inch tires? For more detailed answers to all these question check this Jeep TJ Lift Questions and Answers FAQ.
Like I said I have a 1999 Wrangler that I have done major modifications to and I love it. It’s a fun and function toy that our family really enjoys. If you have always want a convertible and you like Jeeps but have been putting off buying one now is a good time to take the leap. Before you know it you will be modifying the jeep joining a local jeep club and 4 Wheeling every weekend. Go for it!

About the writer:nbsp;nbsp;Ian Parish is an Jeep enthusiast and owner of RedJeePClub.com and RedJeep.com

RedJeepclub.com is a a resource for Jeep Wrangler TJ as well information about Utah Jeeping trails including a lot of pictures. www.RedJeep.com also sells books videos and gear related to Jeeping and Rock Crawling.

Are You A Dealer?

One of the most popular ways that both beginning and experienced real estate investors choose to generate cash flow for their real estate investing is through a quick sale or flip of a property. These transactions often generate the income that an investors lives off of while building a portfolio of holding properties to generate future wealth. The Internal Revenue Service may determine that you are a real estate dealer if you buy and flip properties based upon what they determine your intent was when you purchased the property. The factors used by the Internal Revenue Service to determine dealer status are as follows:

Number Substance and Continuity of Sales the more sales are made over a period a time the more likely a sales intent exists.

Extent and Nature of Efforts to Sell Property the more constant and intense the sales and marketing effort the more likely sales intent exists.

Taxpayer Purpose for Acquiring Holding and Selling Property expressed intent via written and oral communication.

Ordinary Business of the Taxpayer Taxpayers whose primary business is real estate such as a broker or developer have a tougher burden of proof.

Use of a Business Office for Sales gives appearance of an business and not an investment.

The largest concern that a real estate investor who does a lot of flips has is that the laws related to dealer status are vague and the determination of intent is subjective with no clear cut criteria. This is a heavily litigated area of tax law and court opinions are often inconsistent and vary from judge to judge.

How does dealer status hurt the real estate investor?

If the Internal Revenue Service determines that you are a real estate dealer you can lose the following taxsaving benefits:

Depreciation rental properties held by a real estate dealer are not allowed a deduction for depreciation.

Rental Income rental income from properties held can be determined to be ordinary income subject to self employment tax.

Installment Sales dealers who sell property using the installment method may be forced to report the whole gain in the year of sale instead of deferring gain until actual dollars are received.

Tax Free Exchanges dealers are not allowed to do Section 1031 exchanges with properties sold.

Tax Planning Considerations

There are several tax planning considerations and strategies that one can use to manage the implications of the dealer status. They are as follows:

Use of Multiple Entities for the Different Types of Real Estate Investing A good strategy is to use a separate business entity usually a C or S Corporation to flip properties and other business entity usually an LLC or group of LLCs to hold rental properties. Another entity could be set up to deal with properties sold on the installment method.

Use of the Cash Basis of Accounting Using the cash basis of accounting for the dealer entity helps offset the profits because deductions can be taken for all expenses paid prior to year end and lower both the income and selfemployment tax that will be due on the taxable income.

Use of Lease/Option Instead of Installment Sale The loss of the installment sale deferral can be eliminated by using a lease/option instead. The primary issue here is when did the sale occur or constructive ownership. The lease/option agreements must be prepared properly to ensure that the lease/option will not be determined to be a constructive sale. Consult a real estate attorney to ensure that the agreements you are using conform to the proper standards to avoid this issue.

About the writer:  Ted Lanzaro CPA The Millionaire Tax Advisor owns and operates Lanzaro CPA LLC a tax strategy accounting and business advisory firm with offices in Shelton CT. The firm concentrates on providing advisory services education and products design to promote business development tax savings and wealth creation. He can be reached by phone at 2039245760 or via email at Tedlanzarocpa.com. You can subscribe to The Millionaire Tax Advisor Newsletter at www.millionairetaxadvisor.com. You can also get a copy of Teds special report 10 Proven Totally Legal and Effective Tax Strategies That Will Put Thousands In Your Pocket Every Year at his website www.lanzarocpa.com.

Ycc Volvos Tribute To Women

Looks like Volvo is becoming the Ladys Car after all.

In the United States it is estimated that 54 of all Volvo buyers are women and same thing is happening in Europe there is also an increasing percentage of female customers purchasing Volvo.

To give tribute to their increasing number of female customers Volvo Cars has implemented an allwoman team to head up the design and development of the YCC Your Concept Car a vehicle especially designed to meet the needs of the most demanding women customers particularly the professional ones.

According to HansOlov Olsson President and CEO of Volvo Car Corporation “This is a fantastic opportunity for us. We can concentrate on the fastgrowing group of women customers without losing the men. Because I’m certain that our male customers will love this concept car.”

The Volvo YCC was introduced at the Geneva International Motor Show. And as promised the YCC concept was equipped with a host of features designed for women. Volvo has also employed its Ergovision technology a system which scanned the whole body to come up with data containing the relative proportions of the customer thereby guiding the customer on the perfect driving position which are stored in digital form on his or her personal key unit. This technology is quite amazing since once the personal key is dock on the center console the seat steering wheel pedals head restraint and seatbelt automatically adjust to suit the drivers individual built. The drivers heel rest was also designed to be fully adjustable allowing variations in the height of shoe heels.

To enable drivers to see out of the car better YCC designers have equipped it with topoftheline Volvo headlights plus lowered the hood and raised the fenders to provide better outside view. The rear window was also extended to the edge of the car so that drivers will always be able to see all four corners of the car. Interior Designer Cindy Charwick said “It was all part of the aim of making life easier. The cabin environment has been designed so that everything you need is at your fingertips and your surroundings need to make you feel good too.”

Other unique features of the YCC include a center console with a shallow compartment for keys mobile phones and other small items. The console also slides back to reveal a deeper storage space. A wastepaper basket is also placed inside the vehicle plus another compartment designed to hold a notebook computer.
The rear seats are similar to those found in movie theaters in the sense that they can be folded out of the way when not being used. Passengers need only to lower each seat as they get in. there are eight exchangeable seat pad options with corresponding matching carpet textures and patterns that allow drivers to alter the interior according to their personal taste or style.

The YCC has a 215 horsepower fivecylinder PZEV partial zero emissions vehicle engine with an Integrated StarterGenerator ISG. The ISG enables the driver to shut off the engine when waiting in traffic or at stop lights and then restart again once the driver presses the accelerator.

Its sixspeed Powershift gearbox lets the driver to choose from the fully automatic mode or use the controls on the steering column in shifting gears. The Powershift technology also ensures that the gear changes are always at the right revs resulting to smooth driving and lower fuel consumption.

The YCC was also made easy to maintain with its two capless ballvalve filling points which are basically similar to those found on racing cars and located at the drivers side door. One is for gasoline while the other one is for washer fluid. And since the windshield washer fluid filler is found on the outside of the car the engineers have designed the vehicle without a conventional hood. And just get a load of this!the car will automatically notifies a service center when it is time for routine checkup and set up an appointment. Amazing!

The exterior of the car has also some remarkable features of its own like the EasyClean paint that covers the car and has qualities similar to coating on nonstick pan making it impossible for dirt to cling to it. The YCC is a concept car that showcases Volvos bright ideas and solutions to make the world a lot better. “We want cars to make life easier for their owners not complicate things for them” said YCC project manager EvaLisa Andersson.

About the writer:  Glady Reign is a 32 year old is a consultant for an automotive firm based in Detroit Mi. she is a native of the Motor City and grew up around cars hence her expertise in the automotive field.