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OP, do the right thing and pay taxes on the correct amount...anything less is BUSH LEAGUE
I have actually nulled a sale because the new owner wanted me to say I sold the truck for $2000, and give me $5000 cash, so he would only pay taxes on the $2000. NO THANKS
OP, do the right thing and pay taxes on the correct amount...anything less is BUSH LEAGUE
I have actually nulled a sale because the new owner wanted me to say I sold the truck for $2000, and give me $5000 cash, so he would only pay taxes on the $2000. NO THANKS
I typically do two bills of sale in that instance. One for the actual sales price and another for what the buyer requests. I just let him know that if it comes up down the line i'm gonna say i didn't know anything bout a lower sales price bill of sale. Basically i'm gonna throw his ass under the bus and then back over him two or three times and i let him know up front.lol
So basically long story short Im getting a small loan to purchase a 2004 Mach 1. They asked how many miles were on the car and what the purchase price was. I told them 17k and he asked if i wanted to add the extra 1200 to my loan or so that it would cost for taxes and registration. He said when i get the title signed to me i will send it to the credit union and they will title it. I asked if i could title it myself (so i could lie on purchase price) and he said i could but would have to make sure they got on there as lien holder and i had to show a receipt showing i paid all my dues to make sure the title transfer was good. Basically my question is this, did i screw myself by saying i was buying the car for 17k? Or can i go in and title the car and say i purchased it for like 9k and then still put them as the lien holder and the credit union wont care that i lied about the price? Because im sure the receipt will show what my "purchase" price was and if he sees that its way lower then the price i told him, will that raise a red flag? I dont see why they would care anyways because its not like they make any money off those taxes. They're still getting the same amount. Any help would be appreciated. I hope that wasnt too confusing.