fyi...you actually don’t own the car. You have equitable title only. Your state has the full title given to them by the dealer/manufacturer. They split the title and hold the full title so they can charge “rent” for their asset that you paid for them to have in the form of property taxes.
Since you used debt (fiat dollar) to “buy” it and not Constitutional money (Article I, Section 10), you don’t get full title even when “paid off”.
Solution: buy used or off-lease through an LLC owned by you (95%) & friend (5%), take accelerated depreciation deduction (>40/30/20/10<) for 4 years, personal sale to yourself in year 5 from LLC for silver eagles. Federal Lawsuit against STATE DMV Corp domiciled in Wash DC ($402) to get full title.
During years 1-4 property taxes are deductible corp expenses of LLC that flow through to personal taxes.
fyi...you actually don’t own the car. You have equitable title only. Your state has the full title given to them by the dealer/manufacturer. They split the title and hold the full title so they can charge “rent” for their asset that you paid for them to have in the form of property taxes.
Since you used debt (fiat dollar) to “buy” it and not Constitutional money (Article I, Section 10), you don’t get full title even when “paid off”.
Solution: buy used or off-lease through an LLC owned by you (95%) & friend (5%), take accelerated depreciation deduction (>40/30/20/10<) for 4 years, personal sale to yourself in year 5 from LLC for silver eagles. Federal Lawsuit against STATE DMV Corp domiciled in Wash DC ($402) to get full title.
During years 1-4 property taxes are deductible corp expenses of LLC that flow through to personal taxes.