fuck yea dude, how do you think all those rap record producing companies started? welfare doesnt pay that much, its the crack money.
so... let me get this strait... youve got a 5 figure sum, all LEGAL BILLS, all LEGALLY MADE and EARNED... whats the issue??? if you didnt pay taxes on the business, that money is still ILLEGAL. if you sold something illegal to earn the money, its ILLEGAL. if there is a problem with illegality of the funds, then state that. nobody can give you ACCURATE information about your 5 figure sum of questionable money unless your honest. if you made the money illegally, theres a fat chance its not ever going to make you more money, and you should sit on it as cash or slowly deposit it into a US or foreign account. if its totally legal, then there should be no reasons for questions. ive made a 45,000 dollar cash deposit, all legal, no questions asked, even while setting up a high interest money market account and checking account with said money. if its legal, your not gonna have anyone asking questions, nor should their questions bother you.
Legal bills yes legaly earned, yes. Do i have proof that it was legaly earned no. Did the guy that payed me make it legally, i dont think so, but i dont ask questions. I havent payed taxes on it because i don't know how to, because the guy who payed me said if any questions are asked i didn't get it from him.... when you deposited the 45,000 did they ask you where it came from or anything in that nature?
^ haha just deposit monthly in increments of 9,000 if youre still wary. in north carolina you have to sign forms only when you deposit over 10,000.
they didnt so much as ask me had if i was a US citzen or not. i opened the account with my regular bank, applied for a new credit card, new debit card and new accounts and checks all whilst handling the money, and never had a single question. ive also made deposits of 5000 dollars in cash, and not had questions either. ive had other people make deposits in my name with those kinds of ammounts.... trust me, 5 figures is the least of the govts worries. say something like a family member gave it to you as a gift after they struck it big in vegas, or just tell them its been saved in a safe since you were a kid, and all that, and youll be fine. or, just make smaller deposits... and if the bills are all ciculated cash, then theres not much of a way they can track you, or find if its legally earned or not.
How is that a problem. Slowly deposit a regular amount of money. For examply, deposit like $2,000 every month, around the same time of the month. Then the bank will just think you have a job. There not going to be like "OMG this guy has a bank account and is making MONEY?!?!?!? We need to investigate where its coming from!!!"
First on my "home business" I use all the money for that for spending all the money I make with a legit job ALL goes to the bank. I Would keep 5k bundles at various places like a great aunt or something in her attic that she never goes into. Dont ever put in or take out more than 8k they say its 10k before they will report it but to be safe only do small transactions and if they see your money comes from a legit paycheck they souldnt bother you. I used to keep a drawer with random bills back when i was naughty
You need to slowly deposit the money. If you deposit over $10,000 you have to fill out a CTR, which isn't a big deal but it does flag you. If you want my opinion, start going to banks in your area and see which ones have a CD rate of 5-6%. Grab the highest CD rate you can and buy 2k 2 year CD's every month, in the meantime throw that cash in a safety deposit box. CD's are some of the safest form of investing right now, with the falling price of the dollar and the crashing stock market.
yea, thats a damn good point. id spend that money monthly on bonds, that way youd be making money back, and be stopped from reckless spending.
How much money do you have? You could deposit $2,500 every week until you have it all deposited. Banks only report it when you deposit more than $10,000 in a single day, so as long as you make small deposits over a larger amount of time, you should be good. You could also launder the money. If you want to invest the money into stocks, then I suggest you read books about the stock market because you don't want to end up losing your money. Also look into depositing the money into a Swiss bank account. I'm not sure what there policies are on depositing large amounts of money though, you'll have to check it out.
Honestly, I would just invest in a nice fire-proof safe that bolts to the floor as well as a security system for your house, and just don't even worry about the bank. I'm no expert when it comes to these type of legal issues, but I would think it would be easy to fuck up if you don't know what you're doing. Keeping it in a safe assures that no one will ever question where it came from, and as long as it's fire-proof and locked, there really isn't anything to worry about. I realize this isn't quite as secure as having it in the bank, and making large purchases with just cash is really suspicious. But you can balance it out. Just use the cash for every day things... food, gas, clothes, etc. That will save you from having to spend your bank money on these things, and if you have any kind of steady income then it will gradually build up. Don't start spending excessively, just use the cash for stuff that you normally buy, and only use your bank account when absolutely necessary. It might take a while, but eventually your "dirty money" will all indirectly be built up in your account if you do it right. And it will all be totally legit money that you would have normally spent on living expenses. Get it?
^^ all true. but, the main factor here is the safety of said money. i understand anyone who says they would rather have their loot in a bank, we have the FDIC for insuring that everyone is safe from an economic crash by having up to 100,000 dollars insurance of their savings i beleive. on the other hand, this can be countered by the fact that certain resources and their rarity will always hold thier value, such as gold silver and platinum. while it would make no sense to hold all your earnings in bullions or precious stones and metals, it is a good way to keep large ammounts of money in relatively small places, as already stated. when the attacks on 9/11 happened, i know many people outside the US who bought large ammounts of gold to protect their wealth - ita a proven, and nearly unbeatable system, especially in weak govenment areas like the US where a currency could collapse relatively easily. holding money in currency bills is not a good idea, as mayn people found during the depression and other such situations. gold however, nearly will always hold the same value or relative value despite inflation and economic status of the nation under which its held.
You can open a savings account... just tell them you've been saving up for a couple years now, and you dont want this amount just sitting around in your house.
you wouldnt be paying taxes on the amount saved or invested, you be paying taxes on the interest you earned from savings or investing. its called unearned income. for example lets say you had 20000, and earned 1000$ in interest, youd be paying taxes on the 1000$, and you wouldnt even need to report the 20000 if you need a reason to deposite, just tell them you sold your ballin whip, and you wouldnt take checks so you got a butt load of cash obviously
Set up a bank account and put in small amounts at a time. Like put in money in once a week so it looks like your depositing your paycheck or something.