[XutvJet]

Originally Posted by R N M

You sound like a youngster and very naïve.

Did you know that pretty much ALL major banks are incorporated in South Dakota. A lot of major companies are incorporated in Delaware.

Having knowledge about laws in the US and how to leverage them is critical for business and personal success. This is why wealthy people have a team of lawyers and accountants.

I also find it hysterical that people feel that the government will put their money to better use then the person that earned it.

Would 49 be considered "a youngster". I work on the risk evaluation side of US and international mergers and acquisitions, thus I need a fairly good understanding of how LLCs, Inc., etc. work and the legal protections and implications.

We're not talking about how governments manage their tax revenues. We're talking about wealthy individuals gaming the system.

[XutvJet]

Originally Posted by x622

Uh oh sounds like someone is mad they are in the tax bracket they are in.

You do know that registration on oh, say a Senna is almost $20k a year right? I promise you that people who use this aren't using the banks money, unless they're doing capital leases and writing off the payments and all cap costs.

It is up to you and you yourself to use EVERY single legal tax break available. Do not be upset or mad that others have better accountants or are better off financially than you.

I'm probably better off financially than the majority on this forum. Cry me a river that a Senna owner might have to pay $20K/yr in registrations and property tax for the state they live in. They choose to buy a multi-6 figure car. It's all relative.

Don't like the taxation? Take up with your state representatives.

[Donatello.]

Originally Posted by R N M

You do realize there is a cost to open and maintain an MT LLC.
Most folks that do it are regular people that have a car collection of more than 3 cars or a very expensive car. Regular Joe Smith doesn’t know about it bec they are not into cars. Just like I don’t know many other things that other people are doing…..
Also the benefits are not only for tax purposes but avoiding things like annual inspections, registration, front plate rules, tint laws etc.

Regular people don't have car collections. The wealthy do. So many of you are out of touch with reality.

SMH

[Donatello.]

Originally Posted by x622

Uh oh sounds like someone is mad they are in the tax bracket they are in.

You do know that registration on oh, say a Senna is almost $20k a year right? I promise you that people who use this aren't using the banks money, unless they're doing capital leases and writing off the payments and all cap costs.

It is up to you and you yourself to use EVERY single legal tax break available. Do not be upset or mad that others have better accountants or are better off financially than you.

Other posters in this thread are correct, but a good forwarder is much more than $50 a year. I really like using Regus personally, as their forwarding and mail service is top notch.

https://www.regus.com/en-us/united-s...irtual-offices

Uh oh, you're another clown gaming the system while the rest of us pay for it.

Will your reply be "Uh oh, you sound poor?" or something like that? Likely. Good day.

[FC4]

[T3PO]

Originally Posted by Donatello.

lol at thinking these loopholes benefit regular people the same as the rich. smh...

There are plenty of scenarios where a “regular” person could take advantage of tax loopholes, this one in particular. In fact, there are instances where on an income per dollar basis they would actually benefit more than the wealthy. All depends on the state and county you live in. It also depends on one’s ability to learn about these loopholes. Being ignorant and blaming the wealthy is just lazy.

[dgoldenz]

Originally Posted by XutvJet

I'm probably better off financially than the majority on this forum. Cry me a river that a Senna owner might have to pay $20K/yr in registrations and property tax for the state they live in. They choose to buy a multi-6 figure car. It's all relative.

Don't like the taxation? Take up with your state representatives.

Or use the loophole offered by another state to legally avoid said taxation. Do your own research obv, every state is different.

[x622]

Originally Posted by Donatello.

Uh oh, you're another clown gaming the system while the rest of us pay for it.

Will your reply be "Uh oh, you sound poor?" or something like that? Likely. Good day.

I'd like to point out that you came into a thread that's for members that are interested in learning about the Montana tax benefits just to pillory those who choose to use this avenue. That's you. That's what you chose to do. Big list of things you could do, but that's how you chose to spend your time.

Are you just mad that you were never taught finance, accounting and proper ownership structuring? You can teach yourself you know. All of these tax saving strategys are there for the taking should you choose to use them. Who knows, maybe if you use them you can get some nice mods for your Hellcat and Miata.

If this doesn't sound like your cup of tea, have you considered getting out of the thread rather than berating and belittling us "clowns"?

[Donatello.]

Originally Posted by T3PO

There are plenty of scenarios where a “regular” person could take advantage of tax loopholes, this one in particular. In fact, there are instances where on an income per dollar basis they would actually benefit more than the wealthy. All depends on the state and county you live in. It also depends on one’s ability to learn about these loopholes. Being ignorant and blaming the wealthy is just lazy.

Regular people cannot afford the cars that make doing a MT LLC worthwhile. Man, some of you ARE out of touch or just don't care...

[Donatello.]

Originally Posted by x622

I'd like to point out that you came into a thread that's for members that are interested in learning about the Montana tax benefits just to pillory those who choose to use this avenue. That's you. That's what you chose to do. Big list of things you could do, but that's how you chose to spend your time.

Are you just mad that you were never taught finance, accounting and proper ownership structuring? You can teach yourself you know. All of these tax saving strategys are there for the taking should you choose to use them. Who knows, maybe if you use them you can get some nice mods for your Hellcat and Miata.

If this doesn't sound like your cup of tea, have you considered getting out of the thread rather than berating and belittling us "clowns"?

lol wtf? You came into the same thread & posted replies. You are something "special"Get over yourself. Ignore list for you. Good day!

[Clark_Kent]

These threads never disappoint. They always go this way. It's "rich" vs. "poor", "financially savvy" vs. "naive/uninformed". You're better off direct messaging to find out what you need to know.

But until this gets locked...

[FC4]

Would love to hear thoughts on taking the standard deduction vs. the "itemized" loophole...

[NickyC]

Anybody who uses the system to their advantage to pay the criminals in our government the least amount of money possible, while staying LEGAL, I say more power to them. It is completely mind blowing to me why anyone thinks this government needs any additional tax money from us when they already steal a huge percentage of our yearly labor. People really like working 5+ months out of the year just to give the benefits of that labor to the government in some form of taxation? I don't know about you, but quite frankly I'm disgusted my money goes to illegals, blowing up countries that never did anything to me, and to people who sat on their ass during the Convid flu while I worked 60 hours a week and got nothing.

If it's legal, f'em. They want more money, just have them print it like they always do. You know that massive inflation we've suffered for the past 3+ years now? That's another tax due to the criminals' reckless spending, it NEVER ends.

I love it when I see a Montana plate, that person gets it.

[dgoldenz]

Originally Posted by Donatello.

Regular people cannot afford the cars that make doing a MT LLC worthwhile. Man, some of you ARE out of touch or just don't care...

I set mine up for my e92 to avoid the hassle of swapping exhausts every year to pass smog. Had nothing to do with taxes. Cost $800 total including the registration. I must be out of touch.

[Donatello.]

Originally Posted by dgoldenz

I set mine up for my e92 to avoid the hassle of swapping exhausts every year to pass smog. Had nothing to do with taxes. Cost $800 total including the registration. I must be out of touch.

Unless you need every 1/4 HP, just put a cat on it. You must be looking for an e-fight. Merry Christmas!

[dgoldenz]

Originally Posted by Donatello.

Unless you need every 1/4 HP, just put a cat on it. You must be looking for an e-fight. Merry Christmas!

It was supercharged and the tune was without cats as part of their SC package. You try getting Gintani to do anything helpful and see how that works out. That’s another story though.

[dreamingat30fps]

Originally Posted by NickyC

Anybody who uses the system to their advantage to pay the criminals in our government the least amount of money possible, while staying LEGAL, I say more power to them. It is completely mind blowing to me why anyone thinks this government needs any additional tax money from us when they already steal a huge percentage of our yearly labor. People really like working 5+ months out of the year just to give the benefits of that labor to the government in some form of taxation? I don't know about you, but quite frankly I'm disgusted my money goes to illegals, blowing up countries that never did anything to me, and to people who sat on their ass during the Convid flu while I worked 60 hours a week and got nothing.

If it's legal, f'em. They want more money, just have them print it like they always do. You know that massive inflation we've suffered for the past 3+ years now? That's another tax due to the criminals' reckless spending, it NEVER ends.

I love it when I see a Montana plate, that person gets it.

The part that I find extra hilarious is all the hate for the "rich" people supposedly scamming the system with their sneaky loopholes. Instead those sneaky fucks should give their money to the sneakiest, laziest, richest, most corrupt sob of all... the rich asshole who created all the loopholes in the first place... the government!

[x622]

Originally Posted by dreamingat30fps

The part that I find extra hilarious is all the hate for the "rich" people supposedly scamming the system with their sneaky loopholes. Instead those sneaky fucks should give their money to the sneakiest, laziest, richest, most corrupt sob of all... the rich asshole who created all the loopholes in the first place... the government!

No kidding! Wait till Donatello who blocked me because he can't handle adult discourse figures out what section 179 has done to the automotive industry in the US...

Everyone always complains that US customers just LOVE big SUVs but nobody asks why.

[G MONEY]

Originally Posted by dreamingat30fps

The part that I find extra hilarious is all the hate for the "rich" people supposedly scamming the system with their sneaky loopholes. Instead those sneaky fucks should give their money to the sneakiest, laziest, richest, most corrupt sob of all... the rich asshole who created all the loopholes in the first place... the government!

BINGO!!!!!!!

[T3PO]

Originally Posted by Donatello.

Regular people cannot afford the cars that make doing a MT LLC worthwhile. Man, some of you ARE out of touch or just don't care...

*sigh*

Let me give you an example:

Year 1

$50K new vehicle - around the avg price of a new vehicle

In Colorado that is about $1K to register.

Insurance is roughly $2k a year for full coverage.

Sales taxes are typically around 8%, I live in an unincorporated location so my tax is 5%. Let’s split the difference, that is $3.25K in sales tax.

Total outlay in year 1 is $56,250

Cost to setup an LLC in Montana let’s call it $500

In Montana the registration cost is $250-$300, let’s call it $300.

Insurance is roughly 10%-20% cheaper in Montana, let’s say 10%. That makes annual insurance $1,800.

No sales tax in Montana, this would be $0

Total initial outlay is $52,600

1st year savings of $3,650

Now, after year one you don’t pay sales tax, thus the bulk of the savings is eliminated. Colorado also reduces your registration fees/taxes each year. So over time the savings will reduce until you reach a breakeven point.

That being said you will save on insurance each year as well as registration costs until around year 5. At which point you could simply buy a new car, retitle the car in Colorado or depending on the registration cost after 5 years it still may be cheaper in Montana.

[BMWCCA1]

How many times do you have to lie to your state and your insurance company when they ask where the vehicle is "garaged"? And could that eventually void your insurance in the event of a claim?

[Donatello.]

Originally Posted by NickyC

Anybody who uses the system to their advantage to pay the criminals in our government the least amount of money possible, while staying LEGAL, I say more power to them. It is completely mind blowing to me why anyone thinks this government needs any additional tax money from us when they already steal a huge percentage of our yearly labor. People really like working 5+ months out of the year just to give the benefits of that labor to the government in some form of taxation? I don't know about you, but quite frankly I'm disgusted my money goes to illegals, blowing up countries that never did anything to me, and to people who sat on their ass during the Convid flu while I worked 60 hours a week and got nothing.

If it's legal, f'em. They want more money, just have them print it like they always do. You know that massive inflation we've suffered for the past 3+ years now? That's another tax due to the criminals' reckless spending, it NEVER ends.

I love it when I see a Montana plate, that person gets it.

No one is saying the government needs more of our money. The point was clearly lost on you