- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Is this a loophole option?
Posted on 10/1/13 at 11:10 am
Posted on 10/1/13 at 11:10 am
Selling my truck personally. The buyer gave me cash. I read you can't do an act of donation unless you're directly related to the buyer (in order to avoid taxes). Can we do a bill of sale for like $100 to avoid the taxes of the real price ($5,000)?
6
Posted on 10/1/13 at 11:12 am to LSUengineer12
No. Taxes are paid on NADA value.
Posted on 10/1/13 at 11:14 am to LSUengineer12
I did an act of donation to some dude I didn't know. Nothing ever happened.
Posted on 10/1/13 at 12:01 pm to LSUengineer12
quote:
Selling my truck personally. The buyer gave me cash. I read you can't do an act of donation unless you're directly related to the buyer (in order to avoid taxes). Can we do a bill of sale for like $100 to avoid the taxes of the real price ($5,000)?
If you want to break the law and cheat your fellow citizen, then yes.
Posted on 10/1/13 at 12:43 pm to LSUengineer12
I wouldn't put $100 but you could get away with a lot less than the actual price
Posted on 10/1/13 at 8:49 pm to LSUengineer12
If you are in the DS area, go to denham springs notary South of the interstate. They do everything for you, and go to the DMV for you for $25. Used them for 2 transactions without any problems.
Posted on 10/2/13 at 11:07 am to LSUengineer12
I just did this yesterday. Sold my SUV to a guy and we said it was a donation. The lady asked me how we were related and I told her we were cousins. I am the whitest girl you will ever meet and he was black. The lady at the notary didn't care.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News