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I know I don't post here often, I am more active on a Mustang forum. I still plan to buy a Porsche, I just can't decide which one. I change my mind more often than I change my shorts. Anyway... I hope I'm not breaking any forum rules by posting this.
Earlier this year I had the opportunity to visit with Jay Leno at his garage and have a tour. I am sure all of us know that he is among the most knowledgeable enthusiasts and his collection is just amazing. From the McLaren F1, to the 1965 GT350 to the pre-war cars, the display of close to 200 cars was almost overwhelming. Jay spent a lot of time with us showing his favorite cars, talking about the unique and obscure aspects of the cars such as one that had a portable record player. There wasn't a question he couldn't answer about the cars in his collection. He started some up and even ran one of his giant steam engines so we could see it in operation. He was more than generous with his time and had In and Out Burger delivered for lunch. It was a holy grail experience for me and my three friends. Plus, a guys weekend in LA was nothing to sneeze at either. We hit the Sagerstrom and Petersen museums while we there. A very late night listening to live music at the Whisky-A-Go-Go and then the Viper Room, plus a couple of really great restaurants made for a memorable trip.
The reason I am bringing this all up is because I won this trip at an auction for one of our local animal shelters and they are auctioning off another Leno visit this year. I figure there are definitely some folks here who would be interested in this awesome experience and want to benefit a great cause to boot. Check out the link below. Good luck!
One jealous senior citizen here ! Afraid that is not in the budget but what a bucket list visit that would be. Almost sorry I opened this thread :-)
Sorry about that! It definitely wasn't an inexpensive weekend, but like I tell my wife, my car addiction is less destructive than drugs, alcohol or other women. I can't say it's cheaper though.....
Now that we know about it, I am sure if they reopen the window you will have some bidders.
If someone is interested, shoot me a message and I will see what I can do. They've been great about accommodating me. When I won last year, I called and said I could get the bid doubled if i could bring two more people and they made it happen.
Any idea if this donation is/was tax deductible? I'll contact you if so.
Hey there. My bid was not tax deductible because the value placed on the event, which is pretty arbitrary IMO, was above my winning bid. If you bid the $10k opening bid, you will not get a deduction. It was still all worth it to me though.
Hey there. My bid was not tax deductible because the value placed on the event, which is pretty arbitrary IMO, was above my winning bid. If you bid the $10k opening bid, you will not get a deduction. It was still all worth it to me though.
No doubt that it is worth it. Its actually not about the tax deduction but rather that I would like to be assured that a majority of the money is actually going to the animal shelter. If an actual charity is involved then at least some of the money would be guaranteed to get to where it needs to go. No indication on the bid site that this was the case.
No doubt that it is worth it. Its actually not about the tax deduction but rather that I would like to be assured that a majority of the money is actually going to the animal shelter. If an actual charity is involved then at least some of the money would be guaranteed to get to where it needs to go. No indication on the bid site that this was the case.
While I don't know how much goes to the charity, I do know the bulk of it does. I have done some work with this charity before and know them well. They were very happy when I bid last year and asked me to do a short write up about my experience, so I know this is important to them. I am happy to ask how much goes to them if you are serious about bidding.
No doubt that it is worth it. Its actually not about the tax deduction but rather that I would like to be assured that a majority of the money is actually going to the animal shelter. If an actual charity is involved then at least some of the money would be guaranteed to get to where it needs to go. No indication on the bid site that this was the case.
Not sure why you got no tax deduction. The shelter has a charity and the money is going to it. The auction aspect should have nothing to do with it.
The IRS regs only allow for deductions on amounts above the fair value of the item won. I don't know how they assign a value to an experience such as this but it's apparently more than $10k. Therefor none of my bid was deductible. It's not a reflection of what the charity receives.
While I don't know how much goes to the charity, I do know the bulk of it does. I have done some work with this charity before and know them well. They were very happy when I bid last year and asked me to do a short write up about my experience, so I know this is important to them. I am happy to ask how much goes to them if you are serious about bidding.
The IRS regs only allow for deductions on amounts above the fair value of the item won. I don't know how they assign a value to an experience such as this but it's apparently more than $10k. Therefor none of my bid was deductible. It's not a reflection of what the charity receives.
Thanks for the heads up, i have 2 tickets for Jan. FyI. Deductability is based on the lesser of FMV or price donated/paid.
09-22-2024 | 09:03 AM
Jay Leno's Garage
