This would make a nice Xmas stocking stuffer!

This would make a nice Xmas stocking stuffer!

Joined: May 10th, 2006, 8:09 pm

November 21st, 2008, 7:51 pm #1

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Joined: November 16th, 2003, 5:40 pm

November 21st, 2008, 9:35 pm #2

Is there any truth to the rumour I've heard that Obama plans to introduce a capital gains tax on big ticket items like warbirds, where the amount of tax will be proportional to the current value of the item, not the original purchase price? Could be an interesting time for museums.

Cheers!
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Joined: May 8th, 2003, 5:49 pm

November 21st, 2008, 10:37 pm #3

Museums (for IRS purposes) are 501 (c) (3) non-profit organizations so are not taxed.

I don't think we want to start a political thread here.

Spy Mk III just shared a thread on a good-looking aeroplane... and I thank him for doing so!

ATB -

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Joined: November 16th, 2003, 5:40 pm

November 24th, 2008, 3:16 am #4

Hux,

With respect, my thread was not intended to be political, just a question from a Canadian about a rumored taxation change that could have an effect on US operators. Museums aren't the target, private owners are.

Cheers!
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Joined: May 8th, 2003, 5:49 pm

November 24th, 2008, 2:25 pm #5

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