Quote:
Originally Posted by JohnJL
....I am wondering if I can minimize gains taxes on the cars, deduct part of the parts expense and charge my labor on the cars in a way that reduced my overall tax liability....
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So you are saying ABC Car company will own the cars.
ABC Cars has no income / does not generate revenue.
ABC Cars will pay John Doe for work.
Where is ABC Cars getting the money to pay John Doe?
Never mind the fact that John Doe now has income that he needs to report / pay taxes on.
Sounds like a complicated way to get yourself in trouble for no gain.