3 ms·

the optics of large cash transactions are still dicey. even if you are doing nothing wrong, make sure your not going to be hassled

• brundolf 5y ago
  Like by the govt? Hadn't thought about that, good thing to think about
  • rolph 5y ago
    a number of cash payments would look quite normal, if you arranged a payment plan on paper but actually exchanged xthousand dollars for a vehicle all at once, it could be stimulating for IRS, or maybe DEA depending on exact situation
    • yuppie_scum 5y ago
      How does the IRS even find out you buy a car? There’s no federal sales tax. You just pay your state taxes. If it’s a “nothing fancy” car, maybe a 30k accord or less, and he has a good income, it’s not going to raise any flags with either state or fed. Bottom line - pay your taxes and you’ll be fine. I can’t emphasize enough how good a feeling it is to have the title to your own car.
      • mort1merp0 5y ago
        I believe that any movement of $10,000 or more is automatically reported to the Feds. A systematic movement of say $9,000 multiple times to avoid that would be viewed as structuring and you might draw their attention as well. --edit (a word)--
      • rolph 5y ago
        the IRS would find out when the seller reports the sales income, unless the seller is truly crooked and cooks thier books up in some way, such as fees to a consultant who died in a house fire thus all his records are burned and gone.
        • true_religion 5y ago
          Is there a federal sales tax on cars?
          • rolph 5y ago
            im sure there is a federal tax on annual revenue, regerdless of what your business sells
• yongjik 5y ago
  Huh? Am I weird to assume that "buy with cash" is a metaphor and of course anyone buying a car from a dealer would write a check or whip out their phone and do online transaction? Do people actually show up with a briefcase of $100 bills like in movies?
  • brundolf 5y ago
    I did mean "cash" in the abstract sense, in case anybody was in fact confused by that