New episode of Overhauling: tonight at 6 and 9 pm Pacific time

Thanks for the reminder Gary, I would have missed it, and it was one of the best ones yet.http://www.chevelles.com/forums/images/icons/icon14.gif

Rob

sweeet paint job. 502. perfect stance. what more could you ask for? 64elkynss

They did it in 6 days too. I wish I could get parts delivered in 6 days!
I wonder what the total cost of that build was.

I hear they have to pay tax for the car they recieve. Is this true? Overhaulin should pay it for them. Not that I would mind paying tax for something that great.

It looked awesome though. Wonder if hes on this site.

Disclaimer: Applicant agrees to pay all federal, state, and local taxes, including income, use or sales taxes or any other governmental charges imposed on prizes, including the value of any goods or services received and cash gifts, if any, given to you or received by you by reason of your participation in the program and you release and indemnify producer from any liability therefore. You also authorize producer to deduct or withhold any such taxes or charges that require a payment prior to delivery of said prizes, cash or gifts.

Does seem like the sponsors of the show could spring the few thousand dollars for the tax liability. I wonder how they base the value of the finished car; just on the materials and parts alone or would they calculate the labor costs? Professional labor and all the obvious overtime would be a killer!

Does seem like the sponsors of the show could spring the few thousand dollars for the tax liability. I wonder how they base the value of the finished car; just on the materials and parts alone or would they calculate the labor costs? Professional labor and all the obvious overtime would be a killer!

The govt doesn't allow it... It's like when you win in Vegas, the horse races, lottery or on lets make a deal. It's considered income and you are taxed on it just like your paycheck. Then when you transfer title and register there is a "Used Car Tax" too...

I think it was one of the better episodes to date.. I love the fact that Chip Foose respected the wishes of the owner & kept it basically stock, with some hot rod touches.. That 502/502 was a nice touch too :thumbsup:

I think it had more than 502 hp. I thought he said 525 and 575 ftlbs or something.

510 HP was quoted. (I thought 585 ft lbs)

LK

They can't pay the taxes for you because the amout of the taxes they would pay for you would then be taxable as a gift to you! Catch 22!:D

what if you can`t afford the taxes? Do they make you pay it before recieving the car or at the end of the year and just take it out of any refund you would have gotten?

You know, the funny thing is. Its STILL your car they are building. Im sure the tax man has something in it just to get money out of you for a car that afterall you have been the same owner all along.

In my opinion, everything that is done to a car that is owned by someone else should be considered a gift and to tax that is rediculous. I guess it is winning something in a way and taxing that is what the government does.

I'd be interested to know how they calculate the taxes. Is it just the increase in value of the car, or do they actually add up the cost of every single part added to the car? Do they include labor as well?

Retail value of parts and the cost of the labor. Even though labor is not normally taxed this is here because it it concidered part of the prize package!:sad:

I would be very careful of cars built on TV production schedule. Lot's of shortcuts and not much attention to detail. Still looks nice!

I think you can give up to $11K or something like that as a tax-free gift.
People forget all about that tax...its a bummer, but everyone has to pay it no matter if its a paycheck or a $50K overhaul.
I guess if your car gets overhauled you have to either sell it or start finding write-offs! I used to want my car overhauled but realized, 'where's the fun in that?'...either that or im just jealous as hell when someone elses car get overhauled 'cept mine:(

The tax man's taken all my dough,
And left me in my stately home,
Lazing on a sunny afternoon.
And I can't sail my yacht,
He's taken everything I've got,
All I've got's this sunny afternoon.

I'm not shure but wouldn't you have to sign a 1099 tax form. Then file that with your taxes at the end of the year. You would have time to file it and get a loan of some kind to cover it. Get a home equity loan so the feas and interest are tax deductible. I would love to be overhauled but I too love building it myself.

I must be missing something....If Joe Smo down the street steals my car and decides to restore it, and is caught a week later.....I have to pay taxes on restoration work he preformed on my stolen car? On the 67 I assume his wife may have OKed the deal....but I have also seen them assisted by girl friends and mothers....who are in no way affiliated with the owner's tax returns. In certain states you are not even required to pay for needed repairs at a shop when you drop the car off without prior written consent.

I think you can give up to $11K or something like that as a tax-free gift.
People forget all about that tax...its a bummer, but everyone has to pay it no matter if its a paycheck or a $50K overhaul.
I guess if your car gets overhauled you have to either sell it or start finding write-offs! I used to want my car overhauled but realized, 'where's the fun in that?'...either that or im just jealous as hell when someone elses car get overhauled 'cept mine:(

The tax man's taken all my dough,
And left me in my stately home,
Lazing on a sunny afternoon.
And I can't sail my yacht,
He's taken everything I've got,
All I've got's this sunny afternoon.

I may be wrong but believe gift without tax is family only. If I gave you a check for 10k you have to pay taxes on it as income. Cash is a different story as it doesn't get into the system...

I'm not shure but wouldn't you have to sign a 1099 tax form. Then file that with your taxes at the end of the year. You would have time to file it and get a loan of some kind to cover it. Get a home equity loan so the feas and interest are tax deductible. I would love to be overhauled but I too love building it myself.

1099 is provided by the giver... As long as the transaction is out in the open and done properly you'll get a 1099 at the end of the year... With game shows they offer you the opertunity to pay some of your taxes in advance of apr 15th or defering it...

I must be missing something....If Joe Smo down the street steals my car and decides to restore it, and is caught a week later.....I have to pay taxes on restoration work he preformed on my stolen car? On the 67 I assume his wife may have OKed the deal....but I have also seen them assisted by girl friends and mothers....who are in no way affiliated with the owner's tax returns. In certain states you are not even required to pay for needed repairs at a shop when you drop the car off without prior written consent.

Flaw is this is TV and nothing is really stolen, I question the fact that the overhauled is kept in the dark. If my wife sent in the request to have me overhauled I'd know it or she would not know details of what I want. As well I would recognize anyone on that show in a heartbeat and the first weird thing would have me suspious just like most show watchers would...

http://img97.imageshack.us/img97/1452/prepforrepaintofchevelle013nb9.jpg (http://imageshack.us)

I saw that Overhauling 67 Chevelle Monday night. Its in Fullerton, Ca. waiting to be safety inspected in some shop. It for sure is a nice looking Chevelle. Nice paint, all the bottom looks brand new and all painted. a Beautiful 502 engine sitting in it. The flags on the fender have 502 on it. Has heddman headers nicely tucked under..BUT, they added a X-pipe and it caused the exhaust pipes to hang too low because of the way it was welded in. Easily scrapes..

http://img201.imageshack.us/img201/6920/prepforrepaintofchevelle014ay5.jpg (http://imageshack.us)

This truck is another overhauling vehicle waiting safety inspection at that shop. I don't think this one has Aired on TV yet..

That truck episode has aired already.

LK

One thing I noticed right away was that the drivers side quarter panel on that lower line where it meets the door is at least 1/4 inch off or more. Very noticeable in person....But that was almost eye level with car on that lift.

One thing I noticed right away was that the drivers side quarter panel on that lower line where it meets the door is at least 1/4 inch off or more. Very noticeable in person....But that was almost eye level with car on that lift.

Chassis flex perhaps?

Nice pictures Rich, good report there.http://www.chevelles.com/forums/images/icons/icon14.gif

Rob

Nice pictures Rich, good report there.http://www.chevelles.com/forums/images/icons/icon14.gif

Rob
Thanks Birthday Boy !!!!

Good work Rich. I vote you TC's "roving Overhaulin' reporter". We can find out IF these cars are REALLY as nice as they appear. I read that it is not uncommon for them to have to go back and do some final work after the "reveal", adjustments, fitments, etc. A few times the engines didn't sound too good when they would start up for the people at the end.

Good work Rich. I vote you TC's "roving Overhaulin' reporter". We can find out IF these cars are REALLY as nice as they appear. I read that it is not uncommon for them to have to go back and do some final work after the "reveal", adjustments, fitments, etc. A few times the engines didn't sound too good when they would start up for the people at the end.
Thats exactly what the Guy that owns this shop that is inspecting the cars said. They run into troubles just like we do with new parts.
Can't wait till the Shop gets the next batch in...

They did it in 6 days too. I wish I could get parts delivered in 6 days!
I wonder what the total cost of that build was.

I heard aprrox $40,000 worth. If you add all the parts that were donated, and there is plenty

I hear they have to pay tax for the car they recieve. Is this true? Overhaulin should pay it for them. Not that I would mind paying tax for something that great.

It looked awesome though. Wonder if hes on this site.


$8000 for the Chevelle

Just caught this episode last night. It turned out really nice. The father and son thing was one of the best episodes yet, IMO.