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1
Posted on 4/10/09 at 4:08 pm to clamdip
Get a loan and buy a ton of property in the country, and a shovel. 
Posted on 4/10/09 at 4:48 pm to LawLessTyGer
I would be a greater at Wal-Mart work 20 hours a week, have LSU season tickets, Saints Season tickets. Go on vacation every year, drive a reasonable car, live in a reasonable house and just enjoy life.
Posted on 4/10/09 at 6:26 pm to shel311
First $50 million in $100 bills would weigh at least 500,000 grams or 500 kilograms. That's over 1,100 lbs which isn't exactly easy to move around. Then there is the problem of converting the cash into money you can use in your name without legal restrictions, or laundering the money.
I'm not going to explain all of the steps invloved, but becoming a professional gambler is a way to casually report fictitious income from untraceable sources. You will go out of your way to comply with all of the cash transaction reporting requirements. You will declare gambling winnings as the source for your occasional large deposits, and you will occasionally withdraw lesser amounts for the purpose of gambling. You can make a few large purchases using cash, but you are best off depositing it in the bank as gambling winnings. You will scrupulously pay taxes on your annual gambling winnings which will have to be pretty close to the amount your bank balance increased by during the year. It will cost you about 35% in taxes to launder the money.
I'm not going to explain all of the steps invloved, but becoming a professional gambler is a way to casually report fictitious income from untraceable sources. You will go out of your way to comply with all of the cash transaction reporting requirements. You will declare gambling winnings as the source for your occasional large deposits, and you will occasionally withdraw lesser amounts for the purpose of gambling. You can make a few large purchases using cash, but you are best off depositing it in the bank as gambling winnings. You will scrupulously pay taxes on your annual gambling winnings which will have to be pretty close to the amount your bank balance increased by during the year. It will cost you about 35% in taxes to launder the money.
Posted on 4/10/09 at 8:54 pm to shel311
There are really only two options:
1) Make sure nobody finds out. Maybe get better countertops or redo the bathroom, and donate the rest to charity. This limits the benefit pretty sharply but you probably won't get caught either.
Note that donations to qualified charities are deductible, this might actually be completely legal.
2) Come completely clean and be sure everyone finds out, the IRS included. That means hiring a really good tax lawyer to boot so you can be sure it is all legal.
Personally, I'd choose #2. I don't enjoy paying taxes but I don't enjoy the prospect of living on the lam all my life either. After taxes I'd still have more than enough to retire on, so who cares?
1) Make sure nobody finds out. Maybe get better countertops or redo the bathroom, and donate the rest to charity. This limits the benefit pretty sharply but you probably won't get caught either.
Note that donations to qualified charities are deductible, this might actually be completely legal.
2) Come completely clean and be sure everyone finds out, the IRS included. That means hiring a really good tax lawyer to boot so you can be sure it is all legal.
Personally, I'd choose #2. I don't enjoy paying taxes but I don't enjoy the prospect of living on the lam all my life either. After taxes I'd still have more than enough to retire on, so who cares?
Posted on 4/10/09 at 9:09 pm to foshizzle
the point was to not report that you "found" it in case someone tried to claim it
Posted on 4/10/09 at 9:59 pm to Zilla
quote:
he point was to not report that you "found" it in case someone tried to claim it
Completely agreed - the point is to report you found it so you can claim it is yours *and* get away with it.
Posted on 4/13/09 at 5:19 am to Poodlebrain
quote:
I'm not going to explain all of the steps invloved, but becoming a professional gambler is a way to casually report fictitious income from untraceable sources. You will go out of your way to comply with all of the cash transaction reporting requirements. You will declare gambling winnings as the source for your occasional large deposits, and you will occasionally withdraw lesser amounts for the purpose of gambling. You can make a few large purchases using cash, but you are best off depositing it in the bank as gambling winnings. You will scrupulously pay taxes on your annual gambling winnings which will have to be pretty close to the amount your bank balance increased by during the year. It will cost you about 35% in taxes to launder the money.
This may be the best actual idea, at least in theory. I dont know what the exact criteria is for successful gamblers to report there earnings or how detailed it has to be, but this has a chance to be my favorite idea so far.
TigerDeacon's opening a bar and slowly funneling the money in was good as well.
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