Car Sales and Finance Even With Bad Credit part.1

I'll sell my car, do I have to pay taxes for that?

Selling your car represents an income, but if you are salaried or not work Should You register yourself and declare the sale to avoid problems with the IRS? And if you pay cash car, then is best not to put the money to the bank to avoid Treasury identifies and will require payment of the taxes? And if you would pay by bank transfer or check, what then you run the risk of falling in Fiscal discrepancy? With the changes that have taken these questions are common in talks desktop, sometimes expressing a sincere concern, while others are looking for an ironic twist terrorism prosecutor noted that the country is sinking ... But what is really behind?

The issue takes on special significance when we notice that the car is just the tip of the iceberg: the logic is akin to sell any your possession as computers, TVs, game consoles, smart phones, furniture, refrigerators ... Everything! And if we think it makes no sense ... Are we destined to have to give away things or throwing them away unless we give high with a commercial activity that allows us to do these operations?
 
I'm sure this is a good news for many, so we enter fully into the subject;)

The former can count cars, televisions, washing machines, jewelry, artwork or tablets, while among the latter are the lands, houses and apartments.

The taxes that could affect you sell personal property are the income tax (ISR) or VAT, with their respective laws (Income Tax Law and VAT Law) where it is determined how they are calculated and when to apply. What they say about it?

What does the above? Gain if you sold everything (difference between the price at which you bought the good and the price at which you sold) is less than $ 69.800 or 73.600 USD - depending on where you live - then you need not pay income tax; but if you exceed that amount, then yes you have to pay taxes on the difference.

So while what you sell and what you have previously used, is also free of tax. However, if you are an individual with business (professional who employed, commission, micro or small business), then it must retain your customer and pay the IRS this tax, but only for those goods that have registered as Fixed Assets. That is, if you have two computers, one for your business and one for the use of your children, for the sale of the first you have to pay to finance this tax while the second is not. And how Hacienda learns if the computer is your business or your family ?, Simple: If you used the bill to deduct taxes from your business, then it is your business no matter who actually have used it.

Until this point, it was clear that as usually sell our goods at a lower price than buy them, we need not worry about taxes! : D

(And even if by selling some of them we obtain profits, while in the year rebasemos not those from 69.800 to 73.600 pesos, we exempt)

But that does not free us from the fact that we receive in our savings account a large sum of money that the Treasury would "invite" to inform their origin, failing to pay taxes for if "undeclared income" not we can show that this is a tax-free income (this is precisely the famous tax Discrepancy) 

(by Srp),