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xie posted:that guy is almost definitely just lying in a bunch of weird ways about how he got the money. drugs, stolen merchandise, credit card fraud, something. otherwise you just deposit it and don't worry about it. I think a lot of people see TV/movies involving crime/money laundering and assume large amounts of cash means instant suspicion, whereas "legitimate small business owner deposits a months income" doesn't get nearly that much exposure to the general public's eye. Not directed at this post, but the credit card thing he was doing isn't that uncommon to game rewards, it's called "manufactured spending". I'm doing something a little similar, although in my case the spending is genuine (tuition I'd otherwise be paying cash for).
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Jan 23, 2015 17:43
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Lady I work with did that on her rewards card for a while ordering dollar coins from the mint, before the rewards card issuers got rid of it. Within a year she flew her family of four to Spain, Brazil, and Thailand using those "free" rewards points. 
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Jan 23, 2015 17:56
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LorneReams posted:Why are people so loving afraid of SAR and transaction reports? If you have like 20 of them in a week, someone might start asking questions, but there are people who literally deposit >$25K in cash every day with no issue. It boggles my mind why someone would want to take a legal transaction and make it illegal for absolutely no gain.
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Jan 23, 2015 18:06
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Didn't see this one posted. http://www.reddit.com/r/personalfinance/comments/2t7eg3/i_cant_afford_obamacare_i_cant_afford_the/ I can't even understand half of that. The kid lives with him, but he pays his ex child support? Moral of the story is, don't realize that you are in a cult when you've already knocked up one of the members.
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Jan 23, 2015 21:25
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TLG James posted:Didn't see this one posted. I feel like there are details missing, but he wants all the readers on his side because "my ex wife goes to a weird church, guys!"
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Jan 23, 2015 21:40
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It's also on reddit so it's probably made up or reposted for Internet points.
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Jan 23, 2015 23:54
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canyoneer posted:I feel like there are details missing, but he wants all the readers on his side because "my ex wife goes to a weird church, guys!" I mean, probably, but that shunning thing is a very real practice with JW's.
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Jan 24, 2015 00:46
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Pompous Rhombus posted:I mean, probably, but that shunning thing is a very real practice with JW's. Sort of. You don't shun your own family. At least we didn't, and I was raised pretty hardcore JW until I was about 10-11 years old. But yea I can see how that would end a marriage if one person was in and the other wasn't. My parents tried it for about 3 months, and my mom ended up leaving the church to join my dad instead.
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Jan 24, 2015 00:50
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Knyteguy posted:Sort of. You don't shun your own family. This is not the case from lots of JWs I have heard call into a podcast I listen to. Sometimes the family seems to take pleasure in being assholes to those who leave.
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Jan 24, 2015 02:00
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Nocheez posted:This is not the case from lots of JWs I have heard call into a podcast I listen to. Sometimes the family seems to take pleasure in being assholes to those who leave. From my experience it depends. If you're excommunicated, then yes absolutely you're pretty much an untouchable. I never experienced that myself, as just leaving doesn't usually excommunicate you. I definitely did see families who remained married where only one person was a JW, but there were more I saw end in divorce. It's totally feasible our are was less extremely though. But definitely yea people get married pretty young. One marriage was between a 15 or 16 year old girl (family friend) and a 20 year old guy. I'm pretty sure it was church condoned. Not sure if it was government condoned.
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Jan 24, 2015 03:48
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Knyteguy posted:From my experience it depends. If you're excommunicated, then yes absolutely you're pretty much an untouchable. I never experienced that myself, as just leaving doesn't usually excommunicate you. I definitely did see families who remained married where only one person was a JW, but there were more I saw end in divorce. It's totally feasible our are was less extremely though. My father was excommunicated from the jws for getting a divorce and marrying outside the church, and we didn't see anyone on that side of the family until my grandfather died when I was in high school and we had to go to the funeral. My mom sent letters and pictures of us for years and got no response (kept the pictures though, bitch). Basically, this happens all the time and I don't doubt falling out of a religion may ruin a marriage to someone who doesn't agree, especially of it's as intense as the jws. And if that falling out included wanting to raise a child outside the religion, well... This guy is just an idiot who's problem is solved by not getting a tax return, but the rest is just him being in a lovely situation with previous bad decisions.
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Jan 24, 2015 03:55
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So, a buddy of mine just started doing sales for this company. http://www.platinumonellc.com/ It's basically a POS cash advance system. A brand new way to gently caress over the ignorant poor. He was trying to sell me this thing for my B2B customers, but I was like  Apparently Vets and Dentist offices are eating this poo poo up because they get paid right away and some poor gently caress with a sick dog or messed up teeth is now trying to pay 200% in fees and interest. bad with money
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Jan 24, 2015 04:25
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Leroy Diplowski posted:So, a buddy of mine just started doing sales for this company. http://www.platinumonellc.com/images/man-short.jpg Modedit: Looks like those guys deserve all the image leeching we can throw at them but let's take the high road Somebody fucked around with this message at 19:11 on Jan 24, 2015 |
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Jan 24, 2015 05:42
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LorneReams posted:Why are people so loving afraid of SAR and transaction reports? If you have like 20 of them in a week, someone might start asking questions, but there are people who literally deposit >$25K in cash every day with no issue. It boggles my mind why someone would want to take a legal transaction and make it illegal for absolutely no gain. If you consistently deposit that much money, they'll stop filling out SARs when they've found out its no long suspicious. Its when its some idiot depositing 17k out of the blue with no records of how he got the money, they are getting a SAR filed.
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Jan 24, 2015 07:40
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TLG James posted:Didn't see this one posted. Hrrm if he is from Portland the JW place is like 1/2 a mile from my University, I will go confirm this stories authenticity brb...
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Jan 24, 2015 12:02
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LorneReams posted:Why are people so loving afraid of SAR and transaction reports? If you have like 20 of them in a week, someone might start asking questions, but there are people who literally deposit >$25K in cash every day with no issue. It boggles my mind why someone would want to take a legal transaction and make it illegal for absolutely no gain. melon cat fucked around with this message at 16:43 on Jan 24, 2015 |
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Jan 24, 2015 16:13
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I get the idea but they're missing out on $45 in the best available savings account online on $5,000 deposited, which I'm sure lowest earners aren't depositing. is $11 on the $100/mo they put away really enough to care about? Savings rates in the US are garbage.
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Jan 24, 2015 17:39
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The JW dude on Reddit is awesome. He lives in the cheapest apartment in deep East Portland. No way. There are $500 1brs out there. Granted, I wouldn't live there, but he's full of poo poo. $940 must be a brand new complex with amenities... He really needs to stop working at Full Sail and get a job in town, and move to a cheaper place... Forest through trees...xie posted:I get the idea but they're missing out on $45 in the best available savings account online on $5,000 deposited, which I'm sure lowest earners aren't depositing. is $11 on the $100/mo they put away really enough to care about? Savings rates in the US are garbage.
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Jan 24, 2015 18:31
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When I worked at a bank we had to do Currency Transaction Reports for every deposit or withdrawal that was $10,000 or greater, but a Suspicious Activity Report was only required if it became a trend with a non business customer, or the customer was being suspicious or generally refusing to cooperate. If the customer got spooked and tried to change the transaction amount that was an immediate trigger for an SAR. Businesses with frequent large cash deposits were almost always on an exempt list that bypassed both reports. I did CTR's very frequently because I worked at the biggest bank in the area, but SAR's were very rare in comparison. The most obvious case of having to many of both was one day when three separate women came in a few hours apart with over $20k of uncirculated bills, each buying cashiers checks payable to the same guy. Pretty textbook laundering scheme. When we finally caught on the last one couldn't answer any questions and looked like she had seen a ghost.
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Jan 24, 2015 18:36
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What's the bank's motivation for paying attention to stuff like that? Can they end up holding the bag if the launderer is caught?
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Jan 24, 2015 18:53
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Jeffrey of YOSPOS posted:What's the bank's motivation for paying attention to stuff like that? Can they end up holding the bag if the launderer is caught? Only in the most laughable sense, given what happened with BOA and HSBC and all of the others. They pay a fine and promise they won't do it again, they pinky swear.
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Jan 24, 2015 19:06
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Jeffrey of YOSPOS posted:What's the bank's motivation for paying attention to stuff like that? Can they end up holding the bag if the launderer is caught? Willful (or negligent) behavior regarding money laundering can get you a ton of fines/penalties as a bank. I'm not sure about criminal charges, that probably depends on the degree to which you're complicit.
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Jan 24, 2015 19:08
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My company reports cash/cashiers checks/money order payments to us totaling over 5k in a 12mo period. Most customers pay using wires or personal checks so it doesn't happen much. I thought it was strange when I read the policy, but I guess the lawyers thought it was a good CYA....
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Jan 24, 2015 19:18
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I have 16k in hundreds I just inherited from my mother. She was gifted this money over the years from her father. I have no documentation other than the death certificate. In the very unlikely event someone like the IRS gives a poo poo after I deposit it what do I do? I should also note its not even in her will that I get it, legally everything goes to my father. But as she was getting pretty sick she showed me the money (32k in total) and told me to split it with my sister. The only other people that know about it are my uncle and grandfather. onemillionzombies fucked around with this message at 20:00 on Jan 24, 2015 |
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Jan 24, 2015 19:54
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I think technically it's on the person who gives the money away. I would make sure that whoever is handling the estate knows about it, so when they file their taxes.
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Jan 24, 2015 20:06
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onemillionzombies posted:I have 16k in hundreds I just inherited from my mother. She was gifted this money over the years from her father. I have no documentation other than the death certificate. In the very unlikely event someone like the IRS gives a poo poo after I deposit it what do I do? If she gave it to you before she died, it did not become part of her estate and therefore whatever her will said is not applicable to that gift. "Everything" that goes to your father only includes "everything" that was part of her estate and excludes gifts she made while she was alive.
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Jan 24, 2015 20:16
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It wasn't gifted, she tried to but we insisted that it's hers. She just made it clear to us that it was ours when she died. Our uncle also knows about her wishes, so basically it's a verbal addendum to a written will with one unbiased party as witness. Long story short get your poo poo together when you know you're going to die in the near future. She emotionally had real trouble confronting the inevitability of her own death, which is understandable, but we could never get her to deal with this because it upset her so much. onemillionzombies fucked around with this message at 20:26 on Jan 24, 2015 |
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Jan 24, 2015 20:20
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onemillionzombies posted:It wasn't gifted, she tried to but we insisted that it's hers. She just made it clear to us that it was ours when she died. Our uncle also knows about her wishes, so basically it's a verbal addendum to a written will with one unbiased party as witness.
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Jan 24, 2015 20:29
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She's dead, so that's out the window. It's in our possession yes.
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Jan 24, 2015 20:31
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onemillionzombies posted:She's dead, so that's out the window. It's in our possession yes.
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Jan 24, 2015 20:46
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$16k is a nice chunk of change, but it's not such a huge amount that you should worry about it. If you're worried about having it in your house, put it in a safe deposit box. Withdraw a fixed amount a month. Use it for groceries and discretionary spending. Then take whatever was in your regular budget for those items and put it in your emergency fund. Edit: IANAL
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Jan 24, 2015 20:47
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SiGmA_X posted:My mistake, with you insisting it was her money but still taking it, I thought she was still alive. Apologies and condolences. Her estate needs to file a form 709 I believe. Either or, you aren't responsible for tax on this amount... I would post in the US Tax thread, those guys actually do this, I just read about it in class/on the internet. No worries, and thank you.
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Jan 24, 2015 20:48
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Old Fart posted:$16k is a nice chunk of change, but it's not such a huge amount that you should worry about it. If you're worried about having it in your house, put it in a safe deposit box. Withdraw a fixed amount a month. Use it for groceries and discretionary spending. Then take whatever was in your regular budget for those items and put it in your emergency fund. I was planning on using it to fund some medical expenses I'm going to have in the near future. Would be far easier to have it in my savings account since I don't think you can roll into a doctor's office with a stack of hundreds, not in the U.S. anyway. Just trying to make sure everything is legal and accounted for.
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Jan 24, 2015 20:52
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You can definitely pay doctors in cash. You might even get a discount for it.
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Jan 24, 2015 21:04
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i like nice words
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I can pay a specialist thousands of dollars in hundreds and they wont bat an eye? Granted I'll ask them before I do it but still that would surprise me.
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Jan 24, 2015 21:08
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onemillionzombies posted:I was planning on using it to fund some medical expenses I'm going to have in the near future. Would be far easier to have it in my savings account since I don't think you can roll into a doctor's office with a stack of hundreds, not in the U.S. anyway. Just trying to make sure everything is legal and accounted for. I get a 25% discount when I pay at the desk, in cash. Who doesn't take cash?
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Jan 24, 2015 21:26
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Aliquid posted:I get a 25% discount when I pay at the desk, in cash. Who doesn't take cash? Chase Bank, if you're trying to deposit money into an account that your name isn't on (not a joke).
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Jan 24, 2015 21:28
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onemillionzombies posted:I was planning on using it to fund some medical expenses I'm going to have in the near future. Would be far easier to have it in my savings account since I don't think you can roll into a doctor's office with a stack of hundreds, not in the U.S. anyway. Just trying to make sure everything is legal and accounted for.
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Jan 24, 2015 21:38
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Yeah, most likely they'll take cash, and you very well might get a discount. I'm not some baller, but I used to work in a cash-heavy industry (not drugs). I know it feels weird to carry a few thousand in cash, but it's really not that much. People do it all the time. $2k is 20 bills. Think about having $100 in fives. Or $20 in singles. It doesn't require a strap or anything. And hundos are far less wrinkly than singles, so it takes up even less space.
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Jan 24, 2015 22:24
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Jeffrey of YOSPOS posted:What's the bank's motivation for paying attention to stuff like that? Can they end up holding the bag if the launderer is caught? Its federal law that banks have to follow, combination of the bank secrecy act from the 70s and the patriot act.
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Jan 24, 2015 23:44
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