Cash Deposit

Never play with tax man!

Dameon said:

How much cash can I legally deposit in my account without being suspicious? Please help me. Thank you.

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Start up a lawn service. Pay yourself with "owners drafts". Just write yourself a check from the biz to your personal. Keep records of these checks and report them as income when doing your personal taxes. Keep your company funded and pay taxes. You might need a new truck/suv... section 179 is a great deduction to take on a new truck.

I would think you could do like $200 a day mowing lawns full time? Sounds about right. Keep your pay consistent and reasonable. $800 a week or so, if you are mowing that many lawns.

There are several free online accounting programs... starting a small biz is really easy. It's a good thing to learn how to do. More and more people are going to contract employment rather than being an employee. It is essentially the same thing as owning your own business.

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Exactly what he said, put $ aside for and pay your self employment ( SS and Medi) and income taxes. Don't get too greedy with deduction so you don't raise any red flags.

Please remember that if you are investigated, the tax agency may well talk to your neighbors. They may even wish to talk to your customers. Using a fictitious small business to launder money is not a new idea and they look for it. In fact, they have good data as to what every different category of small business should be pulling in, for both revenue and profit.

As for deposits, it is at the discretion of the teller as to what reporting, if any, is done up to $10k. As several persons have noted, that may have been "unofficially" lowered to $5k. In any case, if you look suspicious to them and deposit $1k cash, they may well file a report. Whether the tax agency has the resources to follow up on such reports, that is a good question. The general rule is that they won't waste time on it unless they expect to recover in excess of what it will cost them to make the effort.

i went to the bank with $20,000 cash and deposited into a money market account


nobody asked me anything, personally....did they report it though? idk, probably

Do not put that kind of cash in the bank on a regular basis without a cover. Most covers involve paying some sort of income tax but you can structure it to pay as little as possible like Romney does.

An easy way of making cash go away is to pay your bills with it using money orders etc. If you are going to be doing a lot of this, set up a business. Depending on the business you may find that there are all sorts of things you can write off. Remember that you get fucked up the ass if you make money by working. You want to make money by rents or long term investment income. This is why Romney pays 14% on his criminal enterprises and idiots who work pay 35%.

And if all else fails and you have paid your expenses and hookers in cash, there is always gold.

i made that 20k in the oil field. had nothing to hide


i'm just sayin', the teller...a young girl, seemed impressed... "omg i'd be scared to hold that much money" but didn't inquire about where it came from and i didn't offer any info either

kbo ca said:

my wife is a bank manager. They report 5000 and above to the irs. This is standard with all banks in the US

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Yeah at one time it was 10k...heard from a few people over the last few years they lowered it to 3500 -5000 ....

get into house flipping business , apply for a loan , flip the house and when u make 30 or 50 or a 100 grant on a house it won't rise the eyebrows lolz

Buy US Gold Eagles. Gold dealers like to be paid in cash and Eagles are legal tender so they are never taxed and hold their value.