TER General Board

Entertaining
SuperGoldenGlobe69 3231 reads
posted
1 / 28

The other day at Whole Foods when I was paying for the groceries  the guy who was collecting carts made some remark ( in the nice way) that he had not seen cash in the long time .

Same with cab drivers, although they usually happy with cash.  

Anytime you pay with 100 dollar bill , everybody  really check it for long time...

Paying for cable / mobile phone bills  via machines , also feels kind of weird. Who does not have it at auto pay nowadays.  

While keeping cash in bank deposit box , I keep thinking how much I would make it if I would invest it all in etfs and etc

And forget bringing all this cash to the bank. We all hear stories about accounts getting frozen and etc.  

This takes out the joy of making tons of cash by providing...

Any suggestions? What do you guys do? Probably using aliases  in this thread would be wise.  

Xoxo
Thanks

BigPapasan 3 Reviews 91 reads
posted
2 / 28

...pays with cash.  Definitely the last guy who pays with exact change.

 
If your bankers know you, they won't think twice about accepting large cash deposits or allowing large cash withdrawals.  

 
I can't wait for the day when a provider check my hundies right in front of me with one of those counterfeit detecting pens.

 
http://www.walmart.com/ip/Counterfeit-Detector-Pen-Pack-of-3/393065915

justsauce16 4 Reviews 97 reads
posted
3 / 28

The pens are easy to fool. The best way is to check the stripe under UV and check the watermark.

 
Also, a bank has to report any deposit above 10K and you have to fill out paperwork. Realistically, if you're a lady in this biz, it's probably better to not let the cash touch the bank if at all possible.

MDSTUDS2003 80 reads
posted
4 / 28

I a us citizen and do some things. I would keep it in s bank box eighter lease not all keep diversified. If long term put it in growth stock mutual funds, would best account Base or gold, gold cost to much to get in the rip off rate high. You should watch Dave Ramsey.

herbtcat 6 Reviews 73 reads
posted
5 / 28

Accurate but incomplete.  
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There are 1099 reporting requirements for any financial institution, money transmitter or similar business in the US that require reporting $10k plus transactions to the Fed. Generally the consumer is not required to fill out a form, as long as the source of the funds can be easily determined to come from normal course of business (i.e.: Retail sales, cashing a check from an escrow company, transfers from another account). But that's not all. If the bank has any reasonable suspicion about the funds, they must file an SAR (Suspicious Activity Report) with OFAC. They do not need proof of anything, just suspicion. The are specifically prohibited from telling the customer about the filing. And they may be required to freeze and hold the funds, again, without explanation to the customer.  Finally, even deposits or transfers under $10k may be reported if there is a suspicious pattern (called layering) of say, multiple transactions of $990 over a period of time.  
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There are strategies for getting around the likelihood of an SAR or 1099 reporting process, but I'm not going to discuss them here as they are generally used in furtherance of a crime.  (Fuck! Been watching way too much of the impeachment trail on TV...)
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Life is good
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The Cat

RussellBitterman 91 reads
posted
6 / 28

Great idea doctor.  Not clear how you buy the mutual funds.  With cash? Enjoy the follow up report filing.

RussellBitterman 87 reads
posted
7 / 28

But the older you are, the more inclined you might be to make everyday purchases with cash, and hence, the ‘suspicion’ you think you feel from the counterparty.

Bars and restaurants still take sizable sums.  Other ‘contractors’ prefer cash.  Think of local, smaller businesses that are looking to avoid reporting on their end.  

Some banks still allow payments for credit cards at the ATM or in person.  Pay everyday bills with a credit card, and pay the balance at the local branch with cash.

John_Laroche 80 reads
posted
8 / 28

Any provider that wants to eventually invest her excess profit should have an RL income stream, preferably from a source that deals in cash. Stripping, bar tending, or selling jewelry at local craft shows come to mind. By having a legal, legit income stream you can have bank accounts and credit cards and get an apartment lease. Commingle a portion of your Provider income (yes you'll pay taxes) and suddenly you're just a frugal woman who is able to amass a little nest egg for investing in her future. Naturally, you'll keep some off the books and hidden in your mattress because we all would if we could. Unless you're careless or your last name is Bin Laden it likely won't raise red flags. There's also nothing illegal about being lucky at the racetrack or craps table either. Again, paying taxes on the winnings is the cost of doing that laundry.  

 
Now if you are Miami-based (Caymans are close), or have a friend in the airline industry, discreetly taking the cash offshore may be an option too.

 
or you could spend it all on Louboutins.

Hpygolky 233 Reviews 95 reads
posted
9 / 28

Yup, they'll wip out their check book and start filling it out......I'll just smile and hope that her 10 or so cats don't claw her face off.

VivParker See my TER Reviews 83 reads
posted
10 / 28
MDSTUDS2003 98 reads
posted
11 / 28

Walk into a brokerage firms with a few K in Cash tell them you want to open account there will take care of you.  Two not a doctor I a I advocate bumping off doctors put you in mental home.

Greenbacks2 31 Reviews 92 reads
posted
12 / 28

Brokerage firms are not allowed to except cash, you have to clear it through a bank. Make deposits of less than 10k at a time. Those of us that work in the financial sector have to go through  Money laundering training annually  

GaGambler 125 reads
posted
13 / 28

Whatever you do, do NOT start making a bunch of $9,000 deposits, or do anything else that make it APPEAR that you are trying to skirt the cash reporting rules. THAT will end you in prison a lot faster than simply making a one time $50,000 deposit or whatever amount of money you want back in the "system"  

 
Any one who is aware of the current rigorous AML laws should know that.  

 
PLEASE PLEASE PLEASE, people, when it comes to serious matters like this which could end with someone in prison because he followed bad advice he got on the internet, if you don't know what you are talking about PLEASE just STFU.

 
Don't take my word for this, just ask former House Speaker Dennis Hastert about it now that he is out of prison.

 
Greenbacks, I don't know what kind of job you have within the financial sector, but I certainly hope you are not a money manager or anyone responsible for giving advice on money matters.

JackDunphy 85 reads
posted
14 / 28

Some people make stupid posts but yours is a DANGEROUS ONE.

 
I concur COMPLETELY with GaG here. Peeps, PLEASE DO NOT follow Greenbacks advice.

 
This is what happens when someone googles a topic but yet doesn't know the full ramifications and how things work in the real world. Yikes!

justsauce16 4 Reviews 73 reads
posted
15 / 28

If you have a significant amount of capital to clean, the easiest way is real estate. Buy a house, flip it, pay your contractors with dirty money, sell the house. Wash-Rinse-Repeat, and you'll probably make more than you spend if you're doing it right.

 
The other easy way is to put it through a casino. Most video poker machines are in the high 90% payouts if you're playing properly, and the money that comes out of the cashier is clean. Pay the tax and you're golden, might even get lucky and make a little.

GaGambler 112 reads
posted
16 / 28

Please answer just one question. How the fuck did you get out of the mental home and back onto TER in the first place. I thought we had gotten rid of you permanently

StinaValentine See my TER Reviews 124 reads
posted
17 / 28

It’s not a lot, but it’s enough to pay rent, car insurance, internet, lights, phone, and a bit of groceries, gas, & Amazon.

It’s the big cash deposits that banks get suspicious of, like others have said.  

inicky46 61 Reviews 70 reads
posted
18 / 28

So it's quite OK to spell out the word FUCK. No need for "F-" Admin won't wash your mouth out with soap.
Thanks.

coeur-de-lion 400 Reviews 83 reads
posted
19 / 28

inn the financial industry.  With advice like this, you are a danger to yourself and others.  Do you run with scissors, too?

Jacque_Jenesais See my TER Reviews 102 reads
posted
20 / 28

I had this bag of money and I wasn't about to stash it in the walls lmao

moneyball5 98 reads
posted
21 / 28

Stash of  10K in 100s is not that big.

Jacque_Jenesais See my TER Reviews 88 reads
posted
22 / 28

Jk but still 10+ g’s is a lot to lose and I would rather have it in the bank protected.

GaGambler 66 reads
posted
23 / 28

Having a few hundred grand in cash lying around hardly makes one rich.  

 
If you ever want your money to work for you and start amassing wealth you have to join the system. Buying money orders is what poor people do. Waking up one morning at forty five years old without a bank account, credit cards, or any kind of credit history can be quite sobering. I know a lot of people who have had that very rude experience and I don't recommend it. Nobody can be a ho forever, you need to plan for your life AFTER Ho'ing

justsauce16 4 Reviews 81 reads
posted
24 / 28

John Goodman, who played a character named 'Frank' in the movie "The Gambler" said it the best:

 
Jim Bennett : I've been up two and a half million dollars.

Frank : What you got on you?

Jim Bennett : Nothing.

Frank : What you put away?

Jim Bennett : Nothing.

Frank : You get up two and a half million dollars, any asshole in the world knows what to do: you get a house with a 25 year roof, an indestructible Jap-economy shitbox, you put the rest into the system at three to five percent to pay your taxes and that's your base, get me? That's your fortress of fucking solitude. That puts you, for the rest of your life, at a level of fuck you. Somebody wants you to do something, fuck you. Boss pisses you off, fuck you! Own your house. Have a couple bucks in the bank. Don't drink. That's all I have to say to anybody on any social level. Did your grandfather take risks?

Jim Bennett : Yes.

Frank : I guarantee he did it from a position of fuck you. A wise man's life is based around fuck you. The United States of America is based on fuck you. You're a king? You have an army? Greatest navy in the history of the world? Fuck you! Blow me. We'll fuck it up ourselves.

inicky46 61 Reviews 73 reads
posted
25 / 28
Slickone50 39 Reviews 89 reads
posted
26 / 28

This thread is exactly what I needed. I haven’t laughed this much in a long time. Please don’t stop....any and all responders are welcome.🧑‍🦯🧑‍🦯🧑‍🦯

WIMissScarlet See my TER Reviews 87 reads
posted
27 / 28

I bank at a Credit Union and have a business account under another "business" I have (Avon) and have never had issues depositing cash. But I do try to alter the days as well as the amounts that I deposit.  I invest in stocks through TD Ameritrade, I also have mutual funds, an annuity, a traditional IRA and a Roth IRA.  

I have never banked at an actual "bank" before, so I am not sure if it is that different than going to a credit union. I think the 10K rule is the same at both.  

I do also file a tax return every year and pay in taxes and social security.  

So, yeah, keeping all of your money in a safety deposit box is not going to make you any interest. I would say if you can set up a "business" (Avon, Mary Kay, Tupperware, etc.) the cash coming in would not be questioned as much as just putting cash in a personal account.

StinaValentine See my TER Reviews 70 reads
posted
28 / 28

I do my taxes. I need proof of income to get my family’s health insurance, reduced school lunch program, services for my disabled mom,  if I need to get a car loan, if I decide to move, to get a credit card. Living a cash-only life isn’t practical or smart at all for most of us.

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