Is there any way to save on Tax?
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Joined: Jan 2002
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From: Vegas Baby, Vegas
You could lie about the amount you paid for the car when you register it. Of course this means you need to get the seller to lie and commit fraud when they knowingly provide you with a signed bill of sale and affidavit stating the selling price of the car as being somewhat less than it is.
Do you need instructions on how to commit insurance fraud too?
Of course this has nothing to do with S2000 Talk so I'm going to send it somewhere else.
Do you need instructions on how to commit insurance fraud too?
Of course this has nothing to do with S2000 Talk so I'm going to send it somewhere else.
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Originally Posted by Ludedude,Oct 12 2005, 01:21 PM
You could lie about the amount you paid for the car when you register it. Of course this means you need to get the seller to lie and commit fraud when they knowingly provide you with a signed bill of sale and affidavit stating the selling price of the car as being somewhat less than it is.
Do you need instructions on how to commit insurance fraud too?
Of course this has nothing to do with S2000 Talk so I'm going to send it somewhere else.
Do you need instructions on how to commit insurance fraud too?
Of course this has nothing to do with S2000 Talk so I'm going to send it somewhere else.
Joined: Oct 2001
Posts: 5,729
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When I traded in my car, the salesman offered to be a mediator if I were to find a private buyer. This would save me from paying taxes on the sale amount of my older car (cutting the amount of tax on my new car in half). The dealer would "pretend" that the car was traded to them.
Joined: Oct 2003
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From: MAHT-O-MEDI
I sold my used Mr2 to a guy for $6k. A few days later he calls me and tells me that he filled out the registration form with a price of $2800. THEN he scratched out $2800 and wrote in $2500 to try to cheat out an extra $20 in tax. The DMV told him that he needed me to sign it or they would not accept the price. I told him to screw off. He probably forged it.
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Joined: May 2003
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From: Miami, Florida
Start your own business (i.e.: incorporate) and deduct the cost of the car as a business expense. Report the full price of the car to the DMW, pay the measly 6 or 7% in sales tax and sleep well at night. Then save 25 to 30% (or whatever tax bracket you're in) when you deduct the car. People worry so much about sales taxes when it's income taxes what's really draining their wallets.
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Joined: Oct 2000
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From: Tulsa, OK
Yes, instead of screwing over the state DMV, screw the IRS. They never catch people. If you're not using the vehicle only for business use, then you can't deduct the whole cost. Have fun when they catch you. I've heard they're real lenient and have no problem with people committing tax fraud. 
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Mar 11, 2001 06:37 AM