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Old 07-31-2010, 11:39 PM   #303
Rack Man
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Join Date: Sep 2008
Location: Tempe, AZ
Posts: 770
Re: "FRAME OFF" Has Begun - Wish Me Luck! - Pics

They are not forcing the sale of it (yet)...but the "negotiated" amount I need to pay has to be a lump sum amount ($32k).....I have 90 days to come up with the payment. They are waiving the penalties and interest and lowered the tax amount based on me making them a "full and final" payment......My old partner is worse off than me....he has no real assets left to sell and just got done going through a divorce.....Whats crazy is, the amount of taxes that we did pay for those years ....a ridiculous amount!....we did everything virtually by the books (or we thought)....Its almost impossible for a small business to survive with all of the tax obligations these days....THE MAN WANTS IT ALL!

Its been a rough couple years...I picked a bad time to do this resto...I started it right at the plummet....now this!

Really the only other thing I could do is take a loan against my Daily Driver (2006 F-250) as I own it free and clear....but then I have another payment with interest that I really don't need!



RM
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Last edited by Rack Man; 07-31-2010 at 11:53 PM.
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