Gifting a Car vs Selling for $1 in California

In California, selling a car for $1 may lead to the recipient paying sales tax based on the car’s fair market value. Gifting a car, on the other hand, involves a title transfer without financial transaction, thereby potentially avoiding such tax implications. Understanding the legal and tax differences between these two methods is essential for … Read moreGifting a Car vs Selling for $1 in California: A Comprehensive Guide