I started flipping cars this year and I am enjoying it. I don't want to go all in and get a LLC yet, I'm thinking about getting a DBA just so I don't have so many cars under my name, could I buy cars under the DBA title them and sell them under the DBA without a dealer license?
You’re going to have to put them in the LLC name and pay tax on them. Just the same as if you were an individual. I believe you’ll get a call or letter from the state saying you need to get your dealer license. I’d probably do them in your own name then if they tell you to stop you can do it in your moms, wife’s, brothers, whatever.
Great job Tom. Helpful stuff for non-dealers
Thanks much appreciated. Been kinda busy with “life” these past couple months. Hoping I’ll have more time to make videos.
Thanks for sharing your knowledge! You’ve answered my question.
Glad to help! Thanks for watching!
Great stuff Tom, Thank You
Very welcome! What did the state say about getting your license?
Got voicemails, will try again Monday Thanks for your time on the phone!
I started flipping cars this year and I am enjoying it. I don't want to go all in and get a LLC yet, I'm thinking about getting a DBA just so I don't have so many cars under my name, could I buy cars under the DBA title them and sell them under the DBA without a dealer license?
You’re going to have to put them in the LLC name and pay tax on them. Just the same as if you were an individual. I believe you’ll get a call or letter from the state saying you need to get your dealer license. I’d probably do them in your own name then if they tell you to stop you can do it in your moms, wife’s, brothers, whatever.
@@buxtonautosales thanks