Date: Wed, 15 Sep 1999 18:38:35 -0400
From: Gerard <g.kielynopsamdnet.att.net>
Subject: Re: Liquidating a Lease


James, Kalman and I spoke about this off line. We're cool. No offense implied, and none taken. As I mentioned to Kal, I did consult my tax professional (my CPA brother) and did pay state and federal taxes on my "income" as a broker. "James H. E. Maugham" wrote: > Kalman Rubinson wrote: > > > > Gerard (g.kielynopsamdnet.att.net) wrote: > > > Kalman, > > > > > > No, you are not getting away with anything. I am just arranging for a third party > > > to purchase a vehicle from a finance company. In NJ it is up front and legal. > > > > And you pay income tax on your 'commission?' > > While Gerard is probably too polite to answer this question, I don't > have that defect. > > How is the answer to that of any concern to you? The pat answer is that, > of course Gerard reports the income, as do we all on cash sales. > > The non-pat answer is, if you have any concerns how such a trade might > impact your own tax situation, I suggest you contact your income tax > professional. > > If it was an innocent and thoughtless response to Gerard's post, then I > apologize for my acerbic response. But as your initial post accused > Gerard of somehow "getting away" with something, it appeared to me that > you might have an axe to grind. > > Regards, > > James

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