offshore savings

[Guest]

e-gold..

4.5 pages later someone finally gets an idea.

someon give this guy a prize..

the rest of you are all just boobies.

 

[robotwithdreams]

^^^LOL You said boobies LOL

 

[slicwilly2000]

What prize do I get? I'll take a few tokes after class is over with. Only 7 more hours to go. I would have came up with that idea a lot sooner but I thought we were talking about more money since you mentioned the caymens.

Slic.

 

[macster]

Why any one would worry about $3000 is beyond me. Buddy $300,000 dollars is maybe ,maybe a sum of money you try to bury in an acct overseas. $3,000 is chump change.
No offence intended but your concerned over nothing

 

[rastamonunika]

egold is great, definately reccommend it, . ..

if your looking for offshore accounts, i advise you look in the direction of Latvia.
They have lovely security laws, not even the might U.S. can get into them. . .


just a hint =)



lots of Love and Light
unika

 

[Guest]

is there a database of people got busted and what
happened to them and what got seized?

i mean how small or large a closet grow gets that kind of action? (bank acct seized)

i saw on local news a guy got busted for one plant and the news was talking like he could lose his house. thats really vague but that what the brown-nose rreporters do.. they put out this big scare as a favor to his celebrity cop friend for his guest appearance at 6 o'clock.

 

[slicwilly2000]

egold is great, definately reccommend it, . ..

if your looking for offshore accounts, i advise you look in the direction of Latvia.
They have lovely security laws, not even the might U.S. can get into them. . .


just a hint =)



lots of Love and Light
unika

That's not a bad idea actually. Webmoney is based in Latvia if I remember correctly.

Slic.

 

[BlindDate]

$3000,,,WTF? Why would you even think of an offshore with only $3000. This post is a joke.

Overpay your credit card and they will keep a balance for you. It will never show up on a search for your bank accounts.

If you really want an offshore account then simply fly to another country, open an account with cash and fly back. Don't tell anyone.

 

[Mr. Nevermind]

If its 3K you can do a few legal things. You can open up an IRA and claim it on your taxes and reduce tax liability by 3k that year. A bank nor the IRS is concerned with 3k. Or if your parents are cool. Give them the cash and have them write a check for 3k to you as a gift. they can gift you up to 10k a year and write it off





Nevermind

 

[Guest]

I see the dollar to the euro has came up some. Now, i can get .79 cents for my dollar. Starting to look good for a legal transfer. Trying to get the most out of my transfer of dollar's to euro's. Hate taking those hits from oversea rates. From XE.com

1.00 USD
United States Dollars = 0.786225 EUR
Euro
1 USD = 0.786225 EUR 1 EUR = 1.27190 USD

 

[Mikey]

speaking from someone that works in finance.. I would put it in a simple IRA that gets 12-15% return per year in a retirement acocunt.

Leave it there and never touch it.Add to it but never touch it until you retire.
A small grow normally only gets you a fine and maybe a slap on the wrist if you have no record otherwise.. and i doubt they would seize your retirement accounts as long as you are under 99 plants.

I think you are too paranoid man.. come on people cash checks for over 3k $ every day..chump change to the banks..

At my local bank anything over 1000 dollars has to be overriden by the chief teller and it's noted in the system that a check was cashed above that..

that's all there is ...

 

[Punani JAck]

You have a small business "doing something" part time. You make $500 a week from this. You only accept cash because ur just a dumb small business owner who likes it simple. You go to the bank once a week to deposit ur cash. You are very quiet, and friendly, and everyone at the bank thinks youre a nice person.

You claim all youre small business earnings on your taxes and you pay uncle sam every year.

Its not that hard...

As for hiding emergency "if I get busted" money... Just find a friend or family member you trust 100% to hide cash or open a bank account (in thier name) and put ur money in that account to hold.

 

[NPK]

Before, I wouldn't have thought twice about depositing chunks of cash in my regular checking account, but some posts in this thread have given me pause...especially the one in which someone got flagged by their bank when they deposited their roommates' rent money. Uh, whoa.

What about opening a small business bank account and paying yourself as an employee? It seems that it wouldn't be so hard to set up a simple dummy business, and I'm thinking you wouldn't get audited if you paid taxes regularly. Any thoughts on that?

 

[The Bling]

buy a pound

 

[EastCoast]

if you only have 3k go back to the hydro shop and buy more stuff!

 

[wantaknow]

if you choose to purchase gold buycoins ,and only coins mented befor 1934 as the us goverment has a confiscation law on the books if a national crissses occurs then you are required to turn in all gold ,many may say this is pure bs ,but eany reputable gold broker will set ya streight

 

[Buzzsmirk!]

general: during WWII (prior to US military involvement) while acting as the "arsenal of democracy" the US would only accept GOLD as payment for war "wares" that we did not extend credit for. the reasoning for this is simple and obvious if the nation(s) we were helping were to fall to the axis powers their currency would become worthless overnight.
and this "surplus" of gold the US had helped fuel the US economy after the war into the very epitome of world prosperity.(not to mention the north american continent had not had it's major cities bombed to rubble)
this shortage of gold in the european economy(ies) was cuasing lots of problems throughout the 50s, 60, and early 70s with reagrd to inflation and the dynamics of currency valuation.
so GERRY FORD sent alot of GOLD back into the European economy for the sole reason of stabilizing it and hence took the US OFF the "gold standard"
which meant we had the gold in our national stockpile to back up the face value of the currency in circulation.

GOLD although it has its bad points like wieght, brings attention when trying to cash in etc.... is a more stable investment in the long term as opposed to cash, i am sure gemstones and such are good too.

but 3 K is not enough to get all "clandestine" in your handling of it.

obviously keep it somewhere away from your growshow and still in a safe place.
i like the overpay your credit card bill/balance as it will be available if u need it on short term notice. remember if someone uses cash to bond/bail u out they will be scrutinized (possibly) as to th origins of the funds being tendered.

offshore accounts are not something to consider with this small amount of cash to "hide" as there are better "domestic" options thousands of em!!! IMHO

BUZZ!

 

[cannigrow]

gps, container, shovel, woods

 

[clowntown]

babba, i am not going to argue with you. However, its generally a rule that 10K and up is flagged. But any suspicious cash trasactions are also up for red flag as well. I had a friend get flagged for 3k before. It may depend on the bank and situations , but peopel shouldnt get a false sense of security if they keep it under 10k.

That's very true; if you mess with transactions under 10k, you'll not only get charged with all the crimes as normal but you'll also likely get charged with what's called STRUCTURING. Uncle Sam does not like structuring.

Edit: Information about structuring, and what constitutes structuring, etc:

http://www.irs.gov/irm/part4/ch26s17.html

Well my wife has worked at a bank for many years Im just telling the people how the banks do it. Not sure why they would flag 3k transactions, the guys that work for me cash bigger checks then that every payday. True theres nothing to argue about .... but in this day and age with house payments averaging well over 2k i wouldnt think a 5k check is anything to even blink at. But the LAW says they will report anything 10k or over. I would say use common sense....if you dont have a bank account at that bank dont even think of cashin a check there that will throw a flag right away.

Sure, single transactions or a couple of transactions may go unnoticed. But if you're trying to move more than a few K, it will take a series of transactions and those patterns can easily be noticed and flagged.

(I realize that the OP has stated it's under 10K total, but that's not the point... this is for anyone.)

10k is the text book ammount for putting up a red flag. i know more than 10 people in the area that have been flagged for alot less than 5k.

No, 10k is the textbook amount for a mandantory report / filing to the IRS.

 

[Guest]

why wont anyone just buy a safe and pay everything in cash? thats what i'll do if/when I aquire a large sum of money.