Cars.gov

[saltydawg]

Yep -

Even on the governmental basis almost all the grants are 100% reimbursable AT COMPLETION OF CONTRACT - it has gotten to the point that very few will allow periodic drawdowns and reimbursements - LCDBG and Capital Outlay are about the only ones in the state that atleast allow you monthly reimbursements -

Case in point - at Augsut 1 I had nearly $300,000 due from the state in reimburseable grant monies, as of today I had received basically $61,000 of the $300,000, luckily we have the reserves to carry the cash flow but I have learned that timely reimbursement is usually a 90 to 120 day window with the state governement and closer to 180/240 days with the feds - if the Parish paid their bills like that I couldn't get anyone to do business with us -

So, how much money are you making from these grants?

[FishingBack]

I see that you are not disputing it.

You admitted the gov being inefficient. It just proves my point, why dispute it?

[saltydawg]

You admitted the gov being inefficient. It just proves my point, why dispute it?

Actually, I think that you will find that any private corporation would not do a better job of allocating $3 billion dollars in the time frame we are talking about. At least those who would be liable for any wrongfully spent monies.

[Dwayne From Minden]

So, how much money are you making from these grants?

Most of them are 75/25 or 80/20 match -

Not saying they are not "good" programs, just ineffectively run on the reimbursement end...

Especially considering what you are doing on the front end (paper work & certification wise) as far as issuing guarantees and qualifications - reimbursements for "pre-cleared/certified" work should not take 3 to 6 months to receive it should be a 30 to 45 day turn around...

[barkly]

Saw on TV tonight that the $4500 "Cash for Clunker" discounts are going to be treated as ordinary income for the recipiants by the IRS. There are going to be a lot of angry people at tax filing time when they get a 1099 from their Auto Dealer, and have to report an additional $4500 income!!!!

[Dwayne From Minden]

Saw on TV tonight that the $4500 "Cash for Clunker" discounts are going to be treated as ordinary income for the recipiants by the IRS. There are going to be a lot of angry people at tax filing time when they get a 1099 from their Auto Dealer, and have to report an additional $4500 income!!!!

That's great...

This group really has no clue - they will be a one term presidency

[TYLERTECHSAS]

Saw on TV tonight that the $4500 "Cash for Clunker" discounts are going to be treated as ordinary income for the recipiants by the IRS. There are going to be a lot of angry people at tax filing time when they get a 1099 from their Auto Dealer, and have to report an additional $4500 income!!!!

You gotta love it!!!!!! Those that needed the $4500 to upgrade their vehicles ( a lot of young, poor to middle class) are going to be PO'd big time. SUCKERS!!! Taxes, taxes and more taxes. maybe this will be a life lesson in Liberal Democrat 101.

The naive Obama and his ADM strikes again.

[nadB]

Saw on TV tonight that the $4500 "Cash for Clunker" discounts are going to be treated as ordinary income for the recipiants by the IRS. There are going to be a lot of angry people at tax filing time when they get a 1099 from their Auto Dealer, and have to report an additional $4500 income!!!!

Are you sure about that ??

Most news articles out today indicate that the clunker money is a "gift", only subject to state and local taxes, if applicable ??

http://www.examiner.com/x-5738-Polit...r-Clunkers-tax

[saltydawg]

Bill Frist took advantage of the Cash for Clunkers program.

http://politics.nashvillepost.com/20...-for-clunkers/

[Cool Hand Clyde]

Bill Frist took advantage of the Cash for Clunkers program.

http://politics.nashvillepost.com/20...-for-clunkers/

If I were in the market, I would be driving a new Honda. Its our money (taxpayers) we should take it back.

[Cal&Ken]

Are you sure about that ??

Most news articles out today indicate that the clunker money is a "gift", only subject to state and local taxes, if applicable ??

http://www.examiner.com/x-5738-Polit...r-Clunkers-tax

They were shown in lines paying taxes yesterday- unless once again they were embarrasses and said they were misunderstood.

[dhussdawg]

Most of them are 75/25 or 80/20 match -

Not saying they are not "good" programs, just ineffectively run on the reimbursement end...

Especially considering what you are doing on the front end (paper work & certification wise) as far as issuing guarantees and qualifications - reimbursements for "pre-cleared/certified" work should not take 3 to 6 months to receive it should be a 30 to 45 day turn around...

Especially in a business where you have a lot of money caught up in inventory. I doubt many car dealers thought about how long it would take to get their money and will be in a cash crunch for a while until they get it.

I wouldnt be surprised to see some more sales going on over the next few months until they can get their reimbursements just to get some cash flow back into the business, even if it will be sold at a loss. They already have sunk money into inventory that might need to get turned around regardless of loss.

[daybreaker3]

Saw on TV tonight that the $4500 "Cash for Clunker" discounts are going to be treated as ordinary income for the recipiants by the IRS. There are going to be a lot of angry people at tax filing time when they get a 1099 from their Auto Dealer, and have to report an additional $4500 income!!!!

WWL had a guy on this morning, who owns a dealership and is in some kind of position with the LA Auto Dealers Association (didnt catch his title or name), who said the rebate is not taxable, and is treated as any other rebate.