Audio
Registered Member
- Joined
- Mar 24, 2016
- Messages
- 251
- Reaction score
- 27
- Points
- 18
- Location
- Omaha, NE
- Genesis Model Type
- 1G Genesis Sedan (2009-2014)
Where do you draw the line? I know the IRS code (having been a CPA), and it sounds like a business to me, even if it is part time. It is not necessary to open a storefront to have a business, and it can be operated out of one's home, and it doesn't make it a private sale just because of that.
I draw the line where the law does. If they do not need to register as a business to legally sell a couple cars in a year, they are not a business. Again, the actual law varies from state to state, but as an example, if my state says that a private party can sell 5 cars per year without needing to do a single lick of legal paperwork to become a car sales business, then those 5 cars are private sales.
I sold my personal beater last week.
My wife's cousin's car had a repair bill she couldn't afford so I bought the car off her, and will probably sell it in a week, once I fix it.
I also have a Cavalier in the garage I bought with a bad steering column, and once that's fixed I'll probably sell it as well.
So that's 3 cars within a month and a half most likely. Well within the law for private sales, all being sold with n implied warranty, and all cars registered me as a private owner and not a business per no requirement for me to do such a thing to sell 3 cars.
That's where the line gets drawn...literally where the law clearly draws it.