Say you had thousands in cash and wanted to deposit it in the bank, how much could you deposit without having to deal with taxes and other bs? Just curious. I'm asking because I know someone that keeps a bunch of cash in his house because he's afraid the taxman will collect on it. I wish it was my problem.
Money question
- Thread starter Zigga
- Start date
RELH
Long Time Member
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- 17,534
I believe that any transaction that amounts an excess of ten thousand dollars has to be reported by the bank to the Gov.
we had a East Indian farmer that kept more then 100 thousand hidden in his house in order to avoid paying taxes on it. He became the victim of a home invasion robbery and lost all of it.
If he wants to cheat Uncle Sam and not be a victim of a home invasion, he should consider putting it into a bank safe deposit box.
RELH
we had a East Indian farmer that kept more then 100 thousand hidden in his house in order to avoid paying taxes on it. He became the victim of a home invasion robbery and lost all of it.
If he wants to cheat Uncle Sam and not be a victim of a home invasion, he should consider putting it into a bank safe deposit box.
RELH
ismith
Very Active Member
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LAST EDITED ON Jun-09-08 AT 09:57PM (MST)[p]With inflation like it is it will lose value the longer he has it stuffed in his mattress. If I had a huge chunk of change I would invest it in either realestate or something else that wont lose value. Maybe a couple crates of AR-15's and ammo?
ismith
ismith
Wiszard
Long Time Member
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- 11,074
Like ismith said...find a good paying CD that will pay 6% or so and keep rolling it over. Most CD's can be liquid which means yu can extract money out anytime but you'll just be penalized the interest the won't make on that chunk of change. He won't make a ton (or maybe he will depending on how much he has) but it is a tax shelter until he takes it out. Much safer than in his house.
Steve
Steve
B
bobcatbess
Guest
Zigga Zigga!!!
WELL HOW MUCH YOU GOT STASHED Ziggy???
ENOUGH IT'S STARTING TO WORRY YOU!!!
HELL SAKES!!!
JUST BY A NEW THIRSTY DIESEL PICK-UP & ENJOY!!!
B'FOR LONG WITH 150.00 FILL-UPS YOU'LL SEE THE FUEL TANK WILL HIDE LOTS OF YOUR MONEY FOR YOU!!!
AND THE GOVERNMENT WON'T MIND,I'M SURE THEY'RE THIEVING A GOOD PERCENTAGE OF THE OVER PRICED FUEL AS IT IS!!!
WHEN PEOPLE START GETTING NERVOUS IS WHEN THEY GET THE FRONT DOOR KNOCKED DOWN!!!
THIS IS MY NEW GUN,YOU MAY NOT LIKE IT,YOU'LL LIKE IT A HELL OF A LOT LESS WHEN IT HITS ITS DESTINATION!!!
THE ONLY bobcat THAT KNOWS ALOT OF YOU HAVE HAD THIS IMAGE IN YOUR PEA BRAIN BUT DUE TO POOR SHOOTING TACTICS I'M STILL KICKIN!!!
WELL HOW MUCH YOU GOT STASHED Ziggy???
ENOUGH IT'S STARTING TO WORRY YOU!!!
HELL SAKES!!!
JUST BY A NEW THIRSTY DIESEL PICK-UP & ENJOY!!!
B'FOR LONG WITH 150.00 FILL-UPS YOU'LL SEE THE FUEL TANK WILL HIDE LOTS OF YOUR MONEY FOR YOU!!!
AND THE GOVERNMENT WON'T MIND,I'M SURE THEY'RE THIEVING A GOOD PERCENTAGE OF THE OVER PRICED FUEL AS IT IS!!!
WHEN PEOPLE START GETTING NERVOUS IS WHEN THEY GET THE FRONT DOOR KNOCKED DOWN!!!
THIS IS MY NEW GUN,YOU MAY NOT LIKE IT,YOU'LL LIKE IT A HELL OF A LOT LESS WHEN IT HITS ITS DESTINATION!!!
THE ONLY bobcat THAT KNOWS ALOT OF YOU HAVE HAD THIS IMAGE IN YOUR PEA BRAIN BUT DUE TO POOR SHOOTING TACTICS I'M STILL KICKIN!!!
R
RACKMASTER
Guest
ZIGGA..............
PIMPING PAY'S WELL........
AN EASY BUCK FOR SLAPPING HO'S AROUND!
TAKE IT TO THE CITY......!
RM
PIMPING PAY'S WELL........
AN EASY BUCK FOR SLAPPING HO'S AROUND!
TAKE IT TO THE CITY......!
RM
M
Model_70_Guy
Guest
>Like ismith said...find a good paying
>CD that will pay 6%
>or so and keep rolling
>it over. Most CD's can
>be liquid which means yu
>can extract money out anytime
>but you'll just be penalized
>the interest the won't make
>on that chunk of change.
>He won't make a ton
>(or maybe he will depending
>on how much he has)
>but it is a tax
>shelter until he takes it
>out. Much safer than in
>his house.
>
>Steve
Steve,
Where do you find a CD that pays 6%????? If you know of one please tell me.
Jim
>CD that will pay 6%
>or so and keep rolling
>it over. Most CD's can
>be liquid which means yu
>can extract money out anytime
>but you'll just be penalized
>the interest the won't make
>on that chunk of change.
>He won't make a ton
>(or maybe he will depending
>on how much he has)
>but it is a tax
>shelter until he takes it
>out. Much safer than in
>his house.
>
>Steve
Steve,
Where do you find a CD that pays 6%????? If you know of one please tell me.
Jim
