Wow you must be an accountant!
Sure, if you want to put it like that?
Don’t forget that the e55 is probably depreciating still while the truck is holding it’s value.
IDK if thats the right way to put it hence why I asked it as a question since I don’t know the details of the transaction. I would assume you wouldn’t know that fact until you actually get a cash sale from the truck. But how would you put it?
It can hold its value all it wants. Still gotta find someone willing to pay what its value is.
Either way I’m sure you know the resale capability of this truck better than anyone here (since I bet its already posted on some sites for sale lol)so it must have been a worth while trade. :tup:
sales tax is the mystery unless you’re jumping title… I’m gussing you paid about 1500-2000 in sales tax on the e55. that would mean you’d have to sell for 2000 over what you paid just to break even. you must be pulling sick margins to play this game.
Who said I payed sales tax on either?
Lol @ everyone trying to figure out what I paid. Now if I explained to you what the trade was or what I paid / recieved, I wouldn’t be a very good sales person would I.
Continue to speculate., Its amusing.
Oh, and the truck is not for sale as of now.
im just here to reserve my spot on your leg…it seems spots are going very quick…
I’m just interested in the concept of how you jump cars without the tax hit… I think I read that you are registering all these cars and trucks - how do you do that without paying sales tax? or do you roll on dealer plates?
Well, I received this as a “gift”. I’ve received a few cars this way, and in this case I always have the paperwork notarized. The E55 when I picked it up had some things I wasn’t thrilled with and payed significantly less tax on it that I originally would have. That was Illinois though.
Most of the time I just man up and pay the taxes, however what you lose in car registration fee’s is a deductible on income tax so some of that money comes full circle. It all depends on the price of the car.
I also do have access to a dealer plate, and license. For a small fee, plus taxes, I can sell cars under a registered dealership that one of my colleagues owns.
I’m not pulling any magic tricks off here, nor am I evading taxes. I just budget my self accordingly.
Yes, I probably could make more money per car if I was a dealer. However the insurance and license are too expensive at this point to warrant buying one.
LOL at explaining how you evade taxes, then say you’re not evading them. 
also, I’m pretty sure you can’t deduct registration costs/taxes in NY – I double checked this when I did my taxes and while some states do it, NY doesn’t. Unless you can show me otherwise, I’d love to amend my return.
You can’t deduct registration…
How is gifting the car not evading taxes?
Even if you could deduct the registration, you’re not gonna get nearly all of it back.
I pay my taxes so I don’t know how you can say I evade them? Maybe you should re-read what I said. I pay my taxes on every car.
When it’s a gift, then it’s not taxable. Sorry that people love me, and like to give me cars. Like I said, i have received a FEW cars this way, and they were all LEGIT gifts. In PA, a trade and a gift are on the same paper. In NYS they tax you on trades.
However, the DMV defaults to the state laws where the paperwork is coming from therefore, it’s not taxed.
You can deduct registration, at least I have. It’s just the $150 you spend registering it but it adds up.
I thought that you only did not have to pay sales tax on the value of a vehicle when it is gifted by a parent.
Pennsylvania has different rules and the NYS dmv abides by them.
AKA: Pennsylvania titles MUST be notarized. If not, NY state will not accept them even though NY state titles do not require notarization.
Jesus I’m not posting up new car threads anymore F you all. AUDIT ME! 
I don’t know why you bother responding to these people.
I love that in Texas you can buy one month registrations for $25 each and the car doesn’t have to be in your name. So nice.
That’s how I got my car from DC… Plus I bought an extension that got me another month, the only thing that sucks is the paper plates that they give you. One fell off the car, the other flew out the window.
Awesome car dude. I love how all your car threads turn into where you get your money from and if all your stuff is legit. Who cares. I thought this was a car forum not an IRS forum