Business Liability Insurance California

business liability insurance california
Medical marijuana or cannabis commercial business insurance

Buy Sell Flipping Cars For A Living Without Reporting Tax ?

My brother buys and sells cars on a weekly basis. He has a California dealer license that allows him to sell up to 22 cars as an individual without a “real dealership”. He buys them 1 or 2 at a time from auctions and profit around $2,000 each car. I dont think he pays tax since its all cash, can he get in trouble ? Can the IRS find out ? He doesn’t have any other jobs just buys and sells cars with cash. He doesn’t have any type of liability insurance for the type of business that he is doing so may be at risk for potential exposure to law suits. I’m concen about his way of doing things. Any answers, feedbacks, and advice would greatly be appreciated

With an all cash economy, sounds like many Americans are doing the same thing to stay one step ahead of debt collectors and mortgage foreclosure specialists.

As long as he does not sell lemons and expose himself to lawsuit, he should be OK….

{EDIT} Bills of sale can always be “edited” to show that the car was bought and sold for a nominal amount – say $100. This helps the buyer avoid paying sales taxes when titling the car. Also, some states do not charge sales tax on older models – in MD, sales tax can be charged if the car is more than $640. One can buy and sell the same car for $640 – generating $0 in “paper trail” profit even though the seller is making money on both ends of the deal “under the table.”

Protect Your Home And Family in California With Homeowners Insurance

If you live in California – the sunshine state – or have a house there, you probably have you home owners insurance in order. Most people are concerned about what will happen if their home is damaged by fire, leaks, tornados or whatever that can possibly damage it. Unfortunately some people “forget” this important aspect of owning their own home. Although this represent a minority of home owners, we have too many examples of home or house owners that didn’t had their insurance in a proper condition when the accident hit them. Such unfortunate and sad circumstances are complete unnecessary to get trapped into, if you do such a simple thing as take care of your insurance needs.

There is a large choice of homeowners insurance California has to offer. These, also known as home insurance, is an insurance policy that combines many personal insurance protections which may include any losses that may occur to one’s home or any of its contents, loss of other personal possessions of the homeowner, additional living expenses or liability of any insurance policies that cover accidents that may occur at home. In most contracts however, damages due to natural calamities like earthquakes, floods etc or war are not covered.

There are different types of policies based on whether they cover a property for a fixed period of time, which is most common, or on a perpetual basis – these however are not available in all localities. Insurance companies arrive at a price for a homeowner’s insurance policy by assessing the cost that would be incurred if the house in question had to be replaced and the number of additional household items that have been insured. Insurers also consider factors that increase safety of the locale in which the insured property is placed to reduce insurance premium.

The Statefarm homeowners insurance policy was introduced in 1955. It attained the status of the largest providers of homeowner policies in the country by the year 1964 and has been able to keep these numbers up ever since. They have a strong presence in California and their unique ‘Good Neighbor Service’ promises efficient handling of a claim request which they have proven this time and again having stood the test of time.

While offering a broad spectrum of protection, they also are available at reasonable rates and excel when it comes to delivering customer delight. Apart from home insurance, they also deal with auto insurance, renter’s requirements, life and health insurance, business insurance etc among others.