any feedback on user: zzz0nd61
01-20-2012, 10:53 PM
#1
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Join Date: Jun 2011
Posts: 2
any feedback on user: zzz0nd61
anybody ever dealt with this user? I plan on purchasing chassis car this week and it will be a bill of sale only for cash. He mentioned not wanting the sale amount mentioned on the bill of sale? I thought the buyer would be the only one concerned with sale price because of taxes? any thoughts or info would be great!
01-21-2012, 06:08 AM
#3
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Join Date: Jan 2004
Location: central Illinois
Posts: 459
any feedback
Maybe you beat him down so far, he doesn't want any of his buddies to know?
If it is cash money, I doubt there are any tax consequences.
Do you have all parts and condition of them in writting signed by the seller and notorized?
The bill of sale needs to be specific also to give you any hope of recourse should you need it. Like if it turns out the car has stolen parts on it when you purchase it.
If it is cash money, I doubt there are any tax consequences.
Do you have all parts and condition of them in writting signed by the seller and notorized?
The bill of sale needs to be specific also to give you any hope of recourse should you need it. Like if it turns out the car has stolen parts on it when you purchase it.
01-23-2012, 04:15 AM
#6
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Join Date: Jun 2007
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Think about it.
You didnt mention if he was a business. He is probably not incorporated but could be classed as a sole proprietor; if so he is likely claiming his expenses as a tax deduction with his 1040 filing. Why wouldn't he want a bill of sale?
He is trying to maximize his tax write-offs and a Bill-of-sale with the sale amount you agreed upon reduces his tax write-off. He wants little income and much expense.
Lively, on track as usual. This is the only reasonable reason i could think of.
Do what you want with the bill of sale, but if it were me I would make sure everything was in order including the paper trail. Too much nonsense goes on these days and people will screw you for a nickle it seems.
Scorp
You didnt mention if he was a business. He is probably not incorporated but could be classed as a sole proprietor; if so he is likely claiming his expenses as a tax deduction with his 1040 filing. Why wouldn't he want a bill of sale?
He is trying to maximize his tax write-offs and a Bill-of-sale with the sale amount you agreed upon reduces his tax write-off. He wants little income and much expense.
Lively, on track as usual. This is the only reasonable reason i could think of.
Do what you want with the bill of sale, but if it were me I would make sure everything was in order including the paper trail. Too much nonsense goes on these days and people will screw you for a nickle it seems.
Scorp
