Join Date: Feb 2009
Location: Hickory Hills, IL
Re: Overhauling tv show cars - good as they look on tv
I've always been a bit leery of what kind of quality you can fit into a whole restoration in 7 days time. Even with an unlimited budget and manpower, there has to be some sacrifices made somewhere.
I'm also very curious as to what the tax liabilities are for these "fortunate" people who get their wrecks rebuilt for "free". I'm sure the IRS wants their cut and considers the improvements to be income for the recipient.
Does anyone have any numbers to show what the tax liability might be?
1999 Camaro SS
Bilstein Springs and Shocks (factory option)
SLP Low back pressure exhaust (factory option)
SLP short throw shifter,long tube, tuned length headers, GoodYear Eagle F1 GS-D3 275/40/ZR17, K&N, skip shift, O2 sims