Benny The Jet
Posts: 2,987
Feb 20, 2012 8:58pm
I sold my vehicle to a person, and they asked if when we took it to the DMV to sign over the title, that I'd sign off saying I sold it for a lot less so the guy wouldn't have to pay as much on taxes.
Anyone done this before? Are they pretty strict on that? Or do they not really check into it? Would I be the one getting in trouble or the guy who asked?
Anyone done this before? Are they pretty strict on that? Or do they not really check into it? Would I be the one getting in trouble or the guy who asked?
GoChiefs
Posts: 16,754
Feb 20, 2012 9:00pm
I've done it with every car I've sold. No questions asked.
Fab1b
Posts: 12,949
Feb 20, 2012 9:03pm
Yep never an issue
said_aouita
Posts: 8,532
Feb 20, 2012 9:03pm
Tewll them it's a close friend and you sold it for one dollar.Benny The Jet;1091581 wrote:I sold my vehicle to a person, and they asked if when we took it to the DMV to sign over the title, that I'd sign off saying I sold it for a lot less so the guy wouldn't have to pay as much on taxes.
Anyone done this before? Are they pretty strict on that? Or do they not really check into it? Would I be the one getting in trouble or the guy who asked?
said_aouita
Posts: 8,532
Feb 20, 2012 9:03pm
Tell them it's a close friend and you sold it for one dollar.Benny The Jet;1091581 wrote:I sold my vehicle to a person, and they asked if when we took it to the DMV to sign over the title, that I'd sign off saying I sold it for a lot less so the guy wouldn't have to pay as much on taxes.
Anyone done this before? Are they pretty strict on that? Or do they not really check into it? Would I be the one getting in trouble or the guy who asked?
Ironman92
Posts: 49,363
Feb 20, 2012 9:03pm
Yeah....they don't know, care or check into it.
Fab1b
Posts: 12,949
Feb 20, 2012 9:06pm
I actually gifted a car to my sister a few months ago
LJ
Posts: 16,351
Feb 20, 2012 9:10pm
Just make sure you are both on the same page if you get a state audit letter.
Where people get caught is when the seller just gets the title notarized and then the buyer fills in the rest. Then the buyer and seller will get an audit letter and the seller will put $10,000 and the buyer will put $5,000. Typically the buyer is the one who gets in trouble, because they are the one who dodged the tax
Where people get caught is when the seller just gets the title notarized and then the buyer fills in the rest. Then the buyer and seller will get an audit letter and the seller will put $10,000 and the buyer will put $5,000. Typically the buyer is the one who gets in trouble, because they are the one who dodged the tax
stroups
Posts: 3,223
Feb 20, 2012 9:20pm
The notary could also possibly get in trouble for notarizing a title without all the information filled in.
LJ
Posts: 16,351
Feb 20, 2012 9:31pm
The purchase price doesn't have to be filled in. That is in the application of title portion, which is after the seller's portion is notarizedstroups;1091610 wrote:The notary could also possibly get in trouble for notarizing a title without all the information filled in.
W
WebFire
Posts: 14,779
Feb 20, 2012 10:19pm
Yes they do. I did this once and got a letter telling the book value was X. I either had to pay the difference in tax between the price I put and the book value, or show proof of my purchase price.Ironman92;1091595 wrote:Yeah....they don't know, care or check into it.
I mailed a check.
NYFan54
Posts: 570
Feb 20, 2012 10:33pm
I usually "sell" my vehicles for $500 if they're not in the greatest shape
S
Steel Valley Football
Posts: 4,548
Feb 21, 2012 11:00am
Don't do it. You WILL go jail. I have your IP address.
M
Mister Twister
Posts: 185
Feb 21, 2012 11:12am
^^^^^^^^^^^^^^^^^^^^^
And not the country club jail. They will send you to the Federal FUCK YOU IN THE ASS prison!!!
And not the country club jail. They will send you to the Federal FUCK YOU IN THE ASS prison!!!
S
Steel Valley Football
Posts: 4,548
Feb 21, 2012 11:48am
Mister Twister;1091872 wrote:^^^^^^^^^^^^^^^^^^^^^
And not the country club jail. They will send you to the Federal **** YOU IN THE ASS prison!!!
Or, as Con Alma calls it: recollections of my childhood visits to my uncles farm.
2kool4skool
Posts: 1,804
Feb 21, 2012 2:01pm
dwccrew
Posts: 7,817
Feb 21, 2012 3:59pm
Have done this with every vehicle I have sold with no issue.
W
WebFire
Posts: 14,779
Feb 21, 2012 6:14pm
I did it with 1 with issue.
J
June18
Posts: 298
Feb 21, 2012 7:43pm
As was stated above, the only problem is if one person does it and doesn't tell the other one. Other than that, no way for them to find out.
L
lolpha
Feb 22, 2012 12:52am
Just another Democrat looking to avoid taxes. You should have called the cops on him, pussy.