Topic: what to do with large amounts of cash? (Read 1520 times)
i decided to buy mutual funds and start a company.
Change cash to diamonds and swallow 
I don't think having too much money is a problem. 
Create a corporation. Pay taxes. Hire some lawyers.
Create a corporation. Pay taxes. Hire some lawyers.
I don't think having too much money is a problem.
Create a corporation. Pay taxes. Hire some lawyers.
Create a corporation. Pay taxes. Hire some lawyers.
Not as simple as it seems. Corporate taxes are increasing all over the US / EU. If you want to take your corporation to places where there is no Corporate tax, then there are further legal complexities.
You need to invite this guy to your island.
I don't think having too much money is a problem.
Create a corporation. Pay taxes. Hire some lawyers.
Create a corporation. Pay taxes. Hire some lawyers.
Not as simple as it seems. Corporate taxes are increasing all over the US / EU. If you want to take your corporation to places where there is no Corporate tax, then there are further legal complexities.
You got a good problem going, its usually the lack of money
You can try do the western union thing, but it would have to be small amounts from random locations.
I know this cause I do check cashing and everything western union for my parents.
Also the limitation for 1 transaction should be less then 9,000 etc. Anything though that brings suspicious behavior have to report to FinCen.
note:
The better way would probably at a certain point, get a legit business going to clean the old laundered money (under the table money) to match yearly earnings.
You can try do the western union thing, but it would have to be small amounts from random locations.
I know this cause I do check cashing and everything western union for my parents.
Also the limitation for 1 transaction should be less then 9,000 etc. Anything though that brings suspicious behavior have to report to FinCen.
note:
The better way would probably at a certain point, get a legit business going to clean the old laundered money (under the table money) to match yearly earnings.
I don't think having too much money is a problem.
Create a corporation. Pay taxes. Hire some lawyers.
Create a corporation. Pay taxes. Hire some lawyers.
If you would have large enough cash you could consider payout in more bitcoin friendly countries.
USA is weird right now. Maybe after some time they are going to chill.
USA is weird right now. Maybe after some time they are going to chill.
does OP have a record? is that why you are wary of this? i don't think a cop will bring a k9 with him when pulling him over, much less ask to check his car. even if he did, OP could refuse it.. unless he has a record.
i dont have a record. even if you have nothing to hide, if you refuse a search they will manipulate the system to get the search and they will seize any money even if you can prove it. they will also seize your car and everything in it. its literally legal highway robbery. people think you have rights but your rights always take the back seat to the crooked laws and they will do everything in their power to diminish your rights.Sadly this is accurate.
These days they just take your money.
A prepaid card should be the best way to go, or use btc.
How many pre-paid cards can someone own? There is a limit on all the prepaid cards ($1,000 to $3,000). Also, they charge pretty hefty commissions. Not a good option anyway.
i could but the limit is 9K or they will report it.
why not just wire it over?
i have several, they are nice.
i started a company last year, im just gonna start reporting and pay taxes. i can't keep hoarding cash. there are alot of benefits to owning a company. corporate credit is one of them. tax write offs is another. will be nice to write off gas and other expenses. i might even be able to write off as much as i pay. will see what happens.
i started a company last year, im just gonna start reporting and pay taxes. i can't keep hoarding cash. there are alot of benefits to owning a company. corporate credit is one of them. tax write offs is another. will be nice to write off gas and other expenses. i might even be able to write off as much as i pay. will see what happens.
A prepaid card should be the best way to go, or use btc.
Free, lol oooh I find it hilarious people think we are free.
does OP have a record? is that why you are wary of this? i don't think a cop will bring a k9 with him when pulling him over, much less ask to check his car. even if he did, OP could refuse it.. unless he has a record.
i dont have a record. even if you have nothing to hide, if you refuse a search they will manipulate the system to get the search and they will seize any money even if you can prove it. they will also seize your car and everything in it. its literally legal highway robbery. people think you have rights but your rights always take the back seat to the crooked laws and they will do everything in their power to diminish your rights. global moderator
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does OP have a record? is that why you are wary of this? i don't think a cop will bring a k9 with him when pulling him over, much less ask to check his car. even if he did, OP could refuse it.. unless he has a record.
He already said he doesn't do anything illegal. He just gets paid in cash for his work. Which means he can't prove how he got the cash nor does he pay taxes on the cash he made. At least thats what I take from this thread.
He could have a record for something previous, and not paying taxes is technically illegal lol.
Depends on how you look at it.
I think it will most probably depend on how the police and judges look at it haha, but normally they don't look upon it too favourably
. does OP have a record? is that why you are wary of this? i don't think a cop will bring a k9 with him when pulling him over, much less ask to check his car. even if he did, OP could refuse it.. unless he has a record.
He already said he doesn't do anything illegal. He just gets paid in cash for his work. Which means he can't prove how he got the cash nor does he pay taxes on the cash he made. At least thats what I take from this thread.
He could have a record for something previous, and not paying taxes is technically illegal lol.
Depends on how you look at it.
does OP have a record? is that why you are wary of this? i don't think a cop will bring a k9 with him when pulling him over, much less ask to check his car. even if he did, OP could refuse it.. unless he has a record.
He already said he doesn't do anything illegal. He just gets paid in cash for his work. Which means he can't prove how he got the cash nor does he pay taxes on the cash he made. At least thats what I take from this thread.
He could have a record for something previous, and not paying taxes is technically illegal lol.
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does OP have a record? is that why you are wary of this? i don't think a cop will bring a k9 with him when pulling him over, much less ask to check his car. even if he did, OP could refuse it.. unless he has a record.
Well maybe he's not willing to take the risk. It does seem unlikely that he'll run into trouble though, especially just across statelines, but I'm no expert in security at state borders.
I have Deleted all my previous posts on this thread please disregard anything i posted.
good luck Thanks.
good luck Thanks.
Covering you tracks, eh?
does OP have a record? is that why you are wary of this? i don't think a cop will bring a k9 with him when pulling him over, much less ask to check his car. even if he did, OP could refuse it.. unless he has a record.
He already said he doesn't do anything illegal. He just gets paid in cash for his work. Which means he can't prove how he got the cash nor does he pay taxes on the cash he made. At least thats what I take from this thread.
does OP have a record? is that why you are wary of this? i don't think a cop will bring a k9 with him when pulling him over, much less ask to check his car. even if he did, OP could refuse it.. unless he has a record.
global moderator
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You cannot fool the dog. The trick is to fool the handler. This won't work for you, but if you were smuggling something small, hide it in raw meat, inside a grocery bag. The dog lights on it, but the handler thinks it's just excited about the meat.
I'm sure they're wise to that trick. Seems a bit simple really. They can always scan the meat and that won't fool any handler.
that is an option, but not very practical. gonna be difficult to cash out a large diamond. good idea though.
diamond
I understand if you're one of those people who likes to make their own money rather than conform to the taxable rat race so need to minimise the paper trail, but wont it arouse suspicion if you start paying loads of money into your account or cashing in checks all in your name? If you're going the way of checks and western union etc I'm sure there are many other options available if you're willing to do it in smaller amounts. I'd be paranoid about the paper trail though.
yes, but i already called around you do not need to have an account to purchase a money order or cashier check for amounts under 10K. i could buy 9K from various banks and cash when i need them instead of all at once. i dont want to travel with tons a cashier checks for 9K. (still very suspicious) im trying to spread the money around.
Cashiers checks are the same as cash and they don't get reported to the I.R.S. unless you go over $9,999 once you hit the $10k mark it must be reported to the I.R.S. under the Patriot Act.
yes and no. they are as good as cash but they are not cash and the laws are different regarding seizing cashier checks. Convert some of the cash in to bullion (gold or platinum bars might be a good option). If you don't want to trust bullion, then convert the cash to 1,000 CHF bills. Easier to conceal.
bullion is a good idea. the type of currency doesnt matter. they will still take it. global moderator
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I Don't understand why you can't use a cashiers check....You make your activities look highly suspicious. I have moved from State to state before and never had this problem....Worrying about drug sniffing dogs traffic stops etc.
cashiers checks are a good idea. the laws are different. im going to use cashiers checks, western union, and pre-paid cards. but they all have their limits. i need more options. im not a drug dealer or a criminal. i just dont work a 9-5. im technically unemployed. all my income is cash that i cant prove.
I understand if you're one of those people who likes to make their own money rather than conform to the taxable rat race so need to minimise the paper trail, but wont it arouse suspicion if you start paying loads of money into your account or cashing in checks all in your name? If you're going the way of checks and western union etc I'm sure there are many other options available if you're willing to do it in smaller amounts. I'd be paranoid about the paper trail though.
Convert some of the cash in to bullion (gold or platinum bars might be a good option). If you don't want to trust bullion, then convert the cash to 1,000 CHF bills. Easier to conceal.
Surely that leaves a paper trail though which I'm sure he's keen to avoid?
exactly, any amount of 10K is reported. I Don't understand why you can't use a cashiers check....You make your activities look highly suspicious. I have moved from State to state before and never had this problem....Worrying about drug sniffing dogs traffic stops etc.
cashiers checks are a good idea. the laws are different. its cash that is highly risky. im going to use cashiers checks, western union, and pre-paid cards. but they all have their limits. i need more options. im not a drug dealer or a criminal. i just dont work a 9-5. im technically unemployed. all my income is cash that i cant prove.
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im moving to another state. im driving and will pass through multiple states. i need to get cash from point A to point B. i hear horror stories about state forfeiture laws. i cant prove the source of the funds and i cant put it in the bank. i already have too much BTC and dont want to put everything i have in BTC. so far im thinking about cashiers checks, western union, and pre-paid cards. but i need more options. im also open to investments.
thanks for the suggestions.
I Don't understand why you can't use a cashiers check....You make your activities look highly suspicious. I have moved from State to state before and never had this problem....Worrying about drug sniffing dogs traffic stops etc.thanks for the suggestions.
Surely that leaves a paper trail though which I'm sure he's keen to avoid?
I don't think even doing any of that fools the dogs though. I've seen videos of stuff that has been packaged and consealed insanely well and they still sniffed it out.
yep, saw an ex drug cop explain how trying to cover up the smell of drugs wont work. he explained it like this. when you make stew you have multiple ingredients. chicken, beef, tomatoes, broth, etc. when people smell that we only smell the stew as a whole. but when a dog smells it he can smell and identify every single ingredient. the smell of drugs will also permeate through other materials.we are way off topic though. it's not drug money.
Haha, but the money might have traces of drugs on it, so you need to minimise that risk
. I don't think even doing any of that fools the dogs though. I've seen videos of stuff that has been packaged and consealed insanely well and they still sniffed it out.
yep, saw an ex drug cop explain how trying to cover up the smell of drugs wont work. he explained it like this. when you make stew you have multiple ingredients. chicken, beef, tomatoes, broth, etc. when people smell that we only smell the stew as a whole. but when a dog smells it he can smell and identify every single ingredient. the smell of drugs will also permeate through other materials.we are way off topic though. it's not drug money.
Is it really likely that they will find well-concealed cash? Do they have cash-sniffing dogs at state borders? You could always mail it to yourself using a courier or something.
The dogs are to sniff the drugs,not money,but now depends from where your from and were you want to travel too.You can wrap the money and hide it inside the car.Western Union has a limit on how much money you can send a day. global moderator
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read the title - large amounts. mailing cash is probably even worse than traveling with it. if i was gonna mail anything it would be money orders and cashier checks. everything you do in life has risks. the trick is to minimize the risk.
You are minimising risk but you're never going to get the risk down or close to zero. Mailing it isn't as bad as actually having it on you, but I think the risk of it being found in your car is also probably minimal.
My advice is take the time to wash your cash. People seem to forget or just don't know that cocaine is on the money. With a large sum of cash, the smell of cocaine can be picked up by police dogs. Just wash your cash, put it in a bag with dirty clothes and nobody will ever know.
Will that actually work though? I'm not sure you can easily get rid of all drug traces just by washing money.
You could always wrap it up like drug dealers do cocaine after you wash the money. Or you could place the cash in something air tight.
I don't think even doing any of that fools the dogs though. I've seen videos of stuff that has been packaged and consealed insanely well and they still sniffed it out.
trying to get around traveling with it. need to put it somewhere or turn it in to something else. dont want the cash on me.
My advice is take the time to wash your cash. People seem to forget or just don't know that cocaine is on the money. With a large sum of cash, the smell of cocaine can be picked up by police dogs. Just wash your cash, put it in a bag with dirty clothes and nobody will ever know.
Will that actually work though? I'm not sure you can easily get rid of all drug traces just by washing money.
You could always wrap it up like drug dealers do cocaine after you wash the money. Or you could place the cash in something air tight.
read the title - large amounts. mailing cash is probably even worse than traveling with it. if i was gonna mail anything it would be money orders and cashier checks. everything you do in life has risks. the trick is to minimize the risk.
My advice is take the time to wash your cash. People seem to forget or just don't know that cocaine is on the money. With a large sum of cash, the smell of cocaine can be picked up by police dogs. Just wash your cash, put it in a bag with dirty clothes and nobody will ever know.
Will that actually work though? I'm not sure you can easily get rid of all drug traces just by washing money.
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mailing cash isnt gonna work.
Why not? I don't think there's gonna be any method that is without risk and it's hard to give specific options without knowing how much cash you want to move exactly, and something tells me you wont want to give that away
. Have you tried googling how to transport large amounts of cash?
good tip, but trying to avoid traveling with the cash. need to put it somewhere or turn it in to something else.
My advice is take the time to wash your cash. People seem to forget or just don't know that cocaine is on the money. With a large sum of cash, the smell of cocaine can be picked up by police dogs. Just wash your cash, put it in a bag with dirty clothes and nobody will ever know.
they dont have cash sniffing dogs but they do train dogs to false alert for drugs and when they find the cash it doesnt matter if they find drugs its your burden to prove the source of the cash.
mailing cash isnt gonna work.
mailing cash isnt gonna work.
i will do with large amount of cash "i will go to goa and will spent lots of time near the sea with juice in one hand "
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Is it really likely that they will find well-concealed cash? Do they have cash-sniffing dogs at state borders? You could always mail it to yourself using a courier or something.
im moving to another state. im driving and will pass through multiple states. i need to get cash from point A to point B. i hear horror stories about state forfeiture laws. i cant prove the source of the funds and i cant put it in the bank. i already have too much BTC and dont want to put everything i have in BTC. so far im thinking about cashiers checks, western union, and pre-paid cards. but i need more options. im also open to investments.
thanks for the suggestions.
thanks for the suggestions.
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