What do you do when you have too much money on your hands?

In a hypothetical situation, say you was making an income of a thousand or two a week using a fully medical operation. You supplied to only qualified, liscenced people, who made fat donations to your electricity bill. After awhile, going to the bank just doesn't seem like a viable option. I would think that the IRS would be really interested in a bank account of a guy that rarely worked, but always seemed to deposit 800-1200 into his ATM every week. I suppose you can only get so lucky on the states lottery lol

If you was getting a large amount of cash for what you did in your back yard, how would you handle the situation? If you had to much cash built up (say $30,000 or more), it would be very difficult putting that to something good. Is it generally koshure to rent out a house (or buy one for that matter) in all cash? Would there be any way to invest the cash without having to launder it, necessarily? I'm not even sure laundering it would be effective, because buying, say a resteraunt, in all cash just doesn't seem to sound right either. Deep down, everyone wants to be Tony Fucking Montana. What do you guys think? Hypothetically, of course.

'hypothetical' I would buy some items which don't depreciate in value and can be sold quickly if needs be.

For example - Gold bullion, rare gold coins, things like that. Much better having a coin collection than $1000's lying around the house

Both are good answers, but in a hypothetical sense, the gold bullions makes more sense to me. I wouldn't want to draw attention to myself. Sure, I'd gain the attention of the gold dealer that's selling me whatever for value, but he wouldn't tell anyone. He'd be stoked on my business. Renovating my house though, sounds like a not good idea. I'd want to make myself look like an every day american. Sure, every day americans fix up their house, but only the ones with money. I wouldn't want to seem like I had too much money. However, to turn your gold back into cash, would that get taxed? That actually sounds like an effecient way to phase out one's bills. You could theoretically buy shit just for the purpose of reselling it. Sounds like if someone hypothetically had too much money, than they should just bounce onto craigslist and start buying used cars, just to sell them off again.

maybe get a safety lock box in one of ur family members names

From what I have read/heard the government is more interested in individuals that are making money and not paying taxes at all. Making your money visible without paying taxes is dangerous. Of course justifying where it came from is important too. I would say don't buy things to make your money legit you need to "legally generate" it. Do not buy gold if you intend to resell it. Restaurant and bars are terrible ideas to wash money. In these businesses in equals out. They are easily audited. Another thing to consider is hours of operation, which could equal hours of monitoring. Vending machines are a viable option. Some have the same problems with keeping stock where in would equal out, but others wouldn't like massage chairs, blood pressure machines..... be creative and do research.

I agree with buying bullion (gold)..Also you could talk to a accounting firm..You'd be surprised the advice they can give on these matters over the phone under complete anonymity..Just some suggestions for this hypothetical situation..If i ever find myself in this situation i will have better answers..lol

i would take a bit of it, like a few hundred, and open a couple of bank accounts at different banks. if anyone asked i'd say it was given to me as a gift, or i'd been saving it up or something else innocent. then every week or month i'd stick another bit of it into either account, not enough to attract attention, just enough to get the cash shifted out the house eventually. it'd take ages though, so i'd also by a good quality safe to keep the rest of it in, in the meantime.

and i'd probably waste a whole lot of it on total guff like clothes and take out and christmas shit, and just pimp my house out in a minor way...but that's cause i'm generally shit with wasting money.

i buy a quarter of fish scale powder then i go skiing for the next two or three days...

I'm confused with what you mean.Are you trying to launder it or are you asking for good ways to spend your money?

This has got to be the least of your problems right now.... lol

Brevity said:

I'm confused with what you mean.Are you trying to launder it or are you asking for good ways to spend your money?

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Maybe I am too. At first I thought it was spend, but he said buy then sell the gold and pay tax on it.

I don't know.

If you talk to anyone tell them it is money you want to hide from a wife or something.

The gold thing is all fine, but what if it gets attention when he tries to sell it or something. Being caught with $30,000 worth of unexplainable gold is just as bad as getting caught with $30,000 unexplainable cash.

kronic1989 said:

This has got to be the least of your problems right now.... lol

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Yeah I was gonna suggest giving it to me.

cobra said:

Maybe I am too. At first I thought it was spend, but he said buy then sell the gold and pay tax on it.

I don't know.

If you talk to anyone tell them it is money you want to hide from a wife or something.

The gold thing is all fine, but what if it gets attention when he tries to sell it or something. Being caught with $30,000 worth of unexplainable gold is just as bad as getting caught with $30,000 unexplainable cash.

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Well being in possession of one and a half pounds of gold is quite suspicious, but at the rate in which he'd need it it wouldn't be suspicious really at all.

safety deposit boxes.......between 40-120 a year depending on size and its all yours and the bank does not want to know whats in them

my first advice would be set sum up with a lawyer to bail you out if you get caught up next is safety deposit box good but gov can go through them if they are trying to seize your assets and if you want to set it asside for a while gold is great as paper fades and deprciates but def use some money on your house especially the inside no one will see anyway and increase your ecouity then when you sell you legally get it back and then some - taxes another thing i have heard is buy a and give the seller a lil extra to write you only paid like 500 bucks then when you sell it for 2-4 thosand thats a way you show legal income dont do this too much but dont see a problem with it sorry about my spelling

Having a large income is manageable only if you are able to eliminate red flags. The best way to eliminate red flags is to actually have a taxed income. A real job allows you to deposit a paycheck and pay your majors bills i.e, mortgage/rent/auto. With the excess cash you can pay smaller bills, i.e. utilities, cell phone and other personal expenses. With the amount of money your say you're collecting a job netting you around $500 a week would be sufficient. The best way to go about this is to get into a service industry that relies on tips. This is the simple answer.
*Make more, get taxed more, spend more*
- Open up a small business. If you don't want to get caught you are actually going to have to do some work. Low start up businesses like landscaping, mobile car washing, carpet cleaning... basically services with a $15k or less start up. You're actually going to have to do the work, but no one said you have to do it yourself, hire an employee. You just want enough personal checks deposited to lure suspicious eyes from the cash deposits.
- Work from home businesses. Basically this concept revolves around buying and selling items legitimately. Take cash, get a money order, buy inventory, sell on an online marketplace, money is a paypal/credit card transaction, transaction goes into your bank account.
-Just take some of these ideas and let your imagination run wild. After you decide on a business plan go to your lawyer, which you should already have if you're making money, and let him legally set up your business and recommend a good accountant. Just trying to give you some ideas, hope this helps!

Gold, Gold, Gold!

in an ideal world, fat car, nice tv, new sofa, redecorate the house, new wardrobe, holidays abroad.
in the real I would set up a business, say a courier company, easy to do I would imagine but then I do live in a dream
world as my first comment shows.