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Old 01-19-2006, 11:26 PM   #1
mailman
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Member#: 44632
Join Date: Oct 2003
Location: olympia, wa
Vehicle:
2001 outback LLbean

Default i have a car selling question please!!!!!!!

can you get away with selling a car and "checking" gave/got as a gift instead of claiming the selling price for tax reasons? please as soon as possible,

thanks
ryan
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Old 01-19-2006, 11:28 PM   #2
wiseguy1121
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Member#: 18387
Join Date: May 2002
Chapter/Region: NWIC
Location: Bremerton
Vehicle:
02 WRX Wagon
White

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YOu can but you only get to gift a car i believe ONCE. you can write the bill of sale up for less but sometimes they go buy fair market value so it doesnt matter. the buyer still has to pay the tax on it.
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Old 01-20-2006, 02:52 AM   #3
seagod
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Member#: 87238
Join Date: May 2005
Chapter/Region: NWIC
Location: Puyallup ,WA
Vehicle:
2005 STI
WRB

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Only if the giftee is either related to, or lives with you (same address). But you still have to pay like 30$.
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Old 01-20-2006, 10:00 AM   #4
rlavalle
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Join Date: May 2002
Location: Seattle 'burb (Kirkland)
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2004 STi: 580 AWHP
Java Black Pearl

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Regardless of the legality of selling a car but calling it a gift... It's amazing that the DOL bozos have a minimum price you must pay tax on for each car. IE, if you get a great deal like we did on an M3, you'll possibly have to pay tax on more than you spent! We had to show proof that the car was worth less than their system said it was worth.

Funny it doesn't work the other way... if you pay more than what they think the value is, you don't pay tax on the lower amount!

Our tax system is a real piece of work.

Russ
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Old 01-20-2006, 10:24 AM   #5
BraveUlysses
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Member#: 93205
Join Date: Aug 2005
Location: Lynnwood, WA
Default

Quote:
Originally Posted by rlavalle
Regardless of the legality of selling a car but calling it a gift... It's amazing that the DOL bozos have a minimum price you must pay tax on for each car. IE, if you get a great deal like we did on an M3, you'll possibly have to pay tax on more than you spent! We had to show proof that the car was worth less than their system said it was worth.

Funny it doesn't work the other way... if you pay more than what they think the value is, you don't pay tax on the lower amount!

Our tax system is a real piece of work.

Russ
Yes, but all the inctentive with reporting car sale prices comes from saying it was less than it actually was.

I just sell cars on the paperwork for less money and sell the buyer 3000 dollars worth of tires
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Old 01-20-2006, 10:29 AM   #6
rlavalle
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2004 STi: 580 AWHP
Java Black Pearl

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I'm not sure I understand the statement. Can you explain in more detail?
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Old 01-20-2006, 01:43 PM   #7
travisd13
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Member#: 93113
Join Date: Aug 2005
Chapter/Region: NWIC
Location: Monroe, WA
Vehicle:
2006 STi WRB
2002 WRX PSM R.I.P.

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Quote:
Originally Posted by rlavalle
Our tax system is a real piece of work.
Well said. Dammed if you do, dammed if you donít, you just got to love it.
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Old 01-20-2006, 01:48 PM   #8
CosmoTheCat
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Member#: 3409
Join Date: Jan 2001
Chapter/Region: NWIC
Location: Woolley
Vehicle:
1998 Ram 2500
Green.

Default

Quote:
Originally Posted by rlavalle
I'm not sure I understand the statement. Can you explain in more detail?

If you pay more than market value you must be a sucker and you deserve to pay more taxes (because you obviously can afford it), or something like that. But if you pay less than the fair value they assume there is some sort of fraudulent tax evasion going on, and they're going to ding you for it.

You can write up a bill of sale for much less than what you're actually selling the car for and add the difference in value for "parts", ie - you're selling the M3 for $15k and the snow tires and stereo for an extra $5000, bringing the amount of cash changing hands to $20k, but the car was only sold for $15k, which is what the tax is based off of. For whatever reason they don't tax you on the parts. This is assuming that the lower value is acceptible to the DMV or DOL or whoever collects the money.
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