My wife started a new job, mostly enjoys it, and it’s a stepping stone for her career path. Where she works (a pet crematory,) has several work trucks that get retired after about 10 years. They have a fleet of Rangers and Frontiers right now - whatever they could pick up cheapest at the time. Anyway, they sell them to employees at a discount when they need to be sold - last one was an 06 Frontier with 300k miles, well maintained, 4cyl auto 2wd. They sold it for $1500.
The distrct manager is talking about selling their 2008 Ranger (Sport 4.0/auto/2wd) because it’s up over 200k and has some minor issues. Also, the 20-year-old driver just backed into a brick wall a couple weeks ago and banged up the rear end. Their estimate to fix is somewhere around $1500 - the bumper and tailgate are damaged but there’s no frame damage. If they decide to sell it, my wife and I were going to ask their selling price. If it’s more than about $4,000 I was going to suggest this idea:
Give us the truck. Report its value as income throughout the rest of the year.
My dad did this with a car when I was a kid, and it worked out for his employer - a trucking company.
I’ve been given prizes as bonuses and had to have them as reportable income on my taxes before. If they want to dispose of the asset, and don’t necessarily need the cash, is there a legal way to do this?
Just a thought...