i am a beginning licensed car dealer in the state of new york.. is there a certain percentage taxed for income tax on profit from cars that are sold? if so what percent? also what are some good examples of write offs such as gas money, repairs, etc...
This is why you should never buy a car from one of these guys. They don't know anything and are just in it to take your money. Sounds like he has set up shop quickly and will be gone in a short time.
Buyer beware.