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re: How much cash can you deposit without being flagged by IRS?
Posted on 7/13/22 at 1:40 pm to barry
Posted on 7/13/22 at 1:40 pm to barry
quote:If I had to guess...probably trying to write off all of that inventory as a loss and pocket the $30k tax free
If it was part of a business, it had cost associated with it, it's not like you netted 30k. What are you worried about from a tax standpoint?
1
Posted on 7/13/22 at 1:44 pm to Tiger Prawn
Correct. I wrote off as loss
Posted on 7/13/22 at 1:46 pm to bdavids09
quote:
Correct. I wrote off as loss
Then what do you give a shite about depositing the money?
Posted on 7/13/22 at 1:57 pm to bdavids09
SWIM has stopped depositing cash in the bank. Cash income is routed to things like firearms and other toys.
Previously ran a consulting business where I was depositing $4K+ in cash every month. Using a Chase bank account and doing everything above-board. The assholes at Chase determined I was high risk because of the cash, and they closed all three of my accounts. Assholes.
Previously ran a consulting business where I was depositing $4K+ in cash every month. Using a Chase bank account and doing everything above-board. The assholes at Chase determined I was high risk because of the cash, and they closed all three of my accounts. Assholes.
Posted on 7/13/22 at 2:21 pm to FCP
Thanks for posting this. Maybe these rookies on this board will see the light now.
BTW: Chase has ALWAYS been a POS co.
BTW: Chase has ALWAYS been a POS co.
Posted on 7/13/22 at 2:21 pm to bdavids09
no hookers & blow? how far this country has fallen 
Posted on 7/13/22 at 2:24 pm to Mingo Was His NameO
quote:
Then what do you give a shite about depositing the money?
Because he wrote it off as a loss to the IRS and then sold it for $30k. Not legal.
Posted on 7/13/22 at 2:28 pm to bdavids09
go get a money order and deposit that instead
Posted on 7/13/22 at 2:33 pm to FCP
quote:
SWIM has stopped depositing cash in the bank. Cash income is routed to things like firearms and other toys.
Previously ran a consulting business where I was depositing $4K+ in cash every month. Using a Chase bank account and doing everything above-board. The assholes at Chase determined I was high risk because of the cash, and they closed all three of my accounts. Assholes.
So dealing with legal currency is high risk!
Posted on 7/13/22 at 2:55 pm to j1897
So what, not my responsibility to keep this country financially running. I look out for me and mine. frick Washington. I’ll screw then every chance I get.
Posted on 7/13/22 at 3:24 pm to RobertFootball
quote:Its not my responsibility to have to pay other people's share of taxes because they try to hide their cash income from the IRS to avoid taxes and/or get entitlement program benefits they otherwise shouldn't qualify for
So what, not my responsibility to keep this country financially running.
Posted on 7/13/22 at 3:26 pm to RobertFootball
quote:
So what, not my responsibility to keep this country financially running. I look out for me and mine. frick Washington. I’ll screw then every chance I get.
That the excuse you're going to go with when you get charged with tax fraud?
Posted on 7/13/22 at 3:28 pm to Mingo Was His NameO
quote:
That the excuse you're going to go with when you get charged with tax fraud?
This post was edited on 7/13/22 at 3:32 pm
Posted on 7/13/22 at 3:41 pm to Tiger Prawn
People hiding their income aren’t the ones your tax dollars are funding. Your tax dollars are funding those food stamp lovers with their Obama phones.
Posted on 7/13/22 at 3:45 pm to RobertFootball
quote:
Your tax dollars are funding those food stamp lovers with their Obama phones.
What year is it?
Posted on 7/13/22 at 3:48 pm to Mingo Was His NameO
Did you think they got off the government tit in 2022?
Posted on 7/13/22 at 3:53 pm to bdavids09
I can promise you the IRS don’t give a fuk about you depositing 30k over a few months time they have bigger fish to fry than to worry about 30k plus they don’t have the manpower.
Posted on 7/13/22 at 3:57 pm to RobertFootball
I’m with you on that fuk Washington and the IRS. I will fuk them every chance I get too.
Posted on 7/13/22 at 4:00 pm to RobertFootball
quote:
People hiding their income aren’t the ones your tax dollars are funding. Your tax dollars are funding those food stamp lovers with their Obama phones.
So you think people who hide their cash income aren't getting food stamps, medicaid, or other welfare benefits that they wouldn't otherwise have qualified for if they reported their income accurately?
This post was edited on 7/13/22 at 4:01 pm
Posted on 7/13/22 at 4:13 pm to bdavids09
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