Wings of Hope raffle sold out

bflynn

bflynn

Final Approach
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Brian Flynn
The Wings of Hope raffle for the PA-28-180 went live today and sold out in just a few hours. Anyone else in?

Not that it matters because I never have winning tickets for anything. Nothing. At a company function once, a lot of people left early and the last door prize literally got down to two tickets in the bowl. I didn't even win the drink coasters with a 50-50 shot.
 
I got mine this morning.
 
I got mine.

Now that they are sold out are we still going to have to wait until December 17th for the drawing?

Interesting that a 1972 Piper Cherokee 180 with a zero time engine and upgraded avionics is valued at $49,735.
 
gdwindowpane said:
I got mine.

Now that they are sold out are we still going to have to wait until December 17th for the drawing?

Interesting that a 1972 Piper Cherokee 180 with a zero time engine and upgraded avionics is valued at $49,735.
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Seems a bit high to me. Whomever wins that can have it professionally appraised, and use that amount on their taxes. Note that the winner will need to come up with about twelve grand before he gets the plane.
 
Kenny Phillips said:
Seems a bit high to me. Whomever wins that can have it professionally appraised, and use that amount on their taxes. Note that the winner will need to come up with about twelve grand before he gets the plane.
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It’s actually right around average market value. Cherokee 180’s bring more coin that you must think.
 
Kenny Phillips said:
Seems a bit high to me. Whomever wins that can have it professionally appraised, and use that amount on their taxes. Note that the winner will need to come up with about twelve grand before he gets the plane.
Click to expand...

Why would you need to come up with $12K before you get the aircraft? You'll just get a W-2G which the IRS will have a copy of, which will add to your tax bill for 2018. I don't think you'll be handing a check for $12K over to WoH or the IRS on the date you pick up the aircraft.
 
SoonerAviator said:
Why would you need to come up with $12K before you get the aircraft? You'll just get a W-2G which the IRS will have a copy of, which will add to your tax bill for 2018. I don't think you'll be handing a check for $12K over to WoH or the IRS on the date you pick up the aircraft.
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Arkansas was very eager to get my sales tax. Very. Eager. 45 days after purchases, I got the letter.
 
SoonerAviator said:
Why would you need to come up with $12K before you get the aircraft? You'll just get a W-2G which the IRS will have a copy of, which will add to your tax bill for 2018. I don't think you'll be handing a check for $12K over to WoH or the IRS on the date you pick up the aircraft.
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I suppose they could try to require you to do it that way which would give them some time to use your money before they pay the IRS for you.
 
Unit74 said:
Arkansas was very eager to get my sales tax. Very. Eager. 45 days after purchases, I got the letter.
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Lol nice, the taxman comes a calling. Worst case: not too difficult to get an aircraft loan in 45 days if needed, especially when it’s 1/4 of the FMV.


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SoonerAviator said:
Why would you need to come up with $12K before you get the aircraft? You'll just get a W-2G which the IRS will have a copy of, which will add to your tax bill for 2018. I don't think you'll be handing a check for $12K over to WoH or the IRS on the date you pick up the aircraft.
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#7 under rules - "The IRS requires withholding for non-cash prizes with a value exceeding $5000.00 after deducting the cost of the winner’s ticket. The winner pays the withholding tax to Wings of Hope, Inc. at the rate of 25% of the prize value."

You'll be handing a tax check over to WoH when you get the airplane. A 180 with zero time engine, GTN-650 and ADSB...50k seems cheap.
 
If I win it, I will sell it. It won't be because of this thread, it will be because I can rent a pa28-180 cheaper and a pa28 doesn't give me a boner to own..
 
ja_user said:
If I win it, I will sell it. It won't be because of this thread, it will be because I can rent a pa28-180 cheaper and a pa28 doesn't give me a boner to own..
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Not really sure how you calculate that the rental is “cheaper”. Over a what tine span and how many hours flown? Assuming it has no major squawks, it’ll only cost you fuel and hangar/tie-down cost. Insurance is optional (although unadvised). So you’d have to be able to rent a PA-28-180 for something like $70/hr wet.

I get that it’s not considered an exciting aircraft to own, but it likely fits the mission of most VFR pilots, and even a good portion of IR guys, too.


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ja_user said:
If I win it, I will sell it. It won't be because of this thread, it will be because I can rent a pa28-180 cheaper and a pa28 doesn't give me a boner to own..
Click to expand...


Easy to justify when you only fly an hour a month.
 
SoonerAviator said:
Not really sure how you calculate that the rental is “cheaper”. Over a what tine span and how many hours flown? Assuming it has no major squawks, it’ll only cost you fuel and hangar/tie-down cost. Insurance is optional (although unadvised). So you’d have to be able to rent a PA-28-180 for something like $70/hr wet.

I get that it’s not considered an exciting aircraft to own, but it likely fits the mission of most VFR pilots, and even a good portion of IR guys, too.


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Well, it will cost you twelve grand or so in taxes, maybe a few grand in sales tax, depending on your state laws, and a grand or so for insurance each year, in addition to hangar and fuel.
 
SoonerAviator said:
Not really sure how you calculate that the rental is “cheaper”. Over a what tine span and how many hours flown? Assuming it has no major squawks, it’ll only cost you fuel and hangar/tie-down cost. Insurance is optional (although unadvised). So you’d have to be able to rent a PA-28-180 for something like $70/hr wet.

I get that it’s not considered an exciting aircraft to own, but it likely fits the mission of most VFR pilots, and even a good portion of IR guys, too.


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I figured around 150 hrs a year owning would make sense.

I'd rather own something that I can't rent at all. But yeah a pa28 fits a lot of people's mission. Very nicely

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Kenny Phillips said:
Well, it will cost you twelve grand or so in taxes, maybe a few grand in sales tax, depending on your state laws, and a grand or so for insurance each year, in addition to hangar and fuel.
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And? That doesn’t mean one can claim that renting one is cheaper/better decision without some time boundaries set. Over the course of one year and 100 hours? Yeah, renting is probably better, but barely. 150 hrs? Well it’s probably break-even with renting. 200hrs? Owning becomes cheaper. Without time constraints, the claim of renting being cheaper is unsubstantiated. Obviously there’s a time value of money, but $12K isn’t going to be generating much interest over the course of a year or two.


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Has any one seen any pictures of the plane/panel I'm going to win next week post avionics upgrade?
 
gdwindowpane said:
Has any one seen any pictures of the plane/panel I'm going to win next week post avionics upgrade?
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Nope. But there are pictures posted of the plane I’m going to win next week. :)
 
SoonerAviator said:
And? That doesn’t mean one can claim that renting one is cheaper/better decision without some time boundaries set. Over the course of one year and 100 hours? Yeah, renting is probably better, but barely. 150 hrs? Well it’s probably break-even with renting. 200hrs? Owning becomes cheaper. Without time constraints, the claim of renting being cheaper is unsubstantiated. Obviously there’s a time value of money, but $12K isn’t going to be generating much interest over the course of a year or two.


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I was merely pointing out that when considering costs, one must include all of them. For me, I bought a plane so that it would be safe, reliable, and available whenever I wanted. Cost was secondary. I never flew more than 130 hours in a single year.
 
gdwindowpane said:
I got mine.

Now that they are sold out are we still going to have to wait until December 17th for the drawing?

Interesting that a 1972 Piper Cherokee 180 with a zero time engine and upgraded avionics is valued at $49,735.
Click to expand...
$25k for thr zero time engine, or even a bit more. At least $15k, probably more for the avionics. New interior? That's another $5K or so. You get the aluminum for then value of recycling.
 
murphey said:
$25k for thr zero time engine, or even a bit more. At least $15k, probably more for the avionics. New interior? That's another $5K or so. You get the aluminum for then value of recycling.
Click to expand...

I was actually thinking it would be valued a little higher. But since I'm going to have to pay taxes on it, the lower the better. :happydance:
 
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