BuyingHigh End Cars with Money (No proof of where it came from)

as the title states, there is a lot of posts about laundering and how to spend clean money, I have heard of the tax file about a car over 10k, most private dealers on raiglist arent selling rolls royce and ferrari. If one of these cars were bought can it just be cash no proof of inome or anything? HOW DO THOSE RAPPERS DO IT. feel like it would get seized, or the rappers are trolling and renting it or putting the car in someone else name. or launder their money through rap career


Comments


[6 Points] DNM-Accountant:

You know most rappers actually have a legit business set up and file their earnings and profits accordingly with the help of professionals?


[2 Points] Wingnutcheese:

You need a good accountant


[2 Points] DNMQUESTIONMARK:

Heard about freelance work, and someone making 3k a day removing trees, guitar lessons and all of that, to launder to a bank acount


[2 Points] AgoraRefuge:

If you already own a vehicle, use it to get a title loan And pay it off the all within the first period. You'll need to make sure you find a place that has no prepayment penalities, be sure to ask about that, and locate it in the contract (branch employees may lie to you). Bonus points if its a seedy looking place. They'll know what the loan is for when you pay it off in one go a few days later. They will not care. Use a place that will let you pay cash obviously (online will require you pay by card, no bueno). You'll want to find a new place for each loan, although that's probably overkill. Better safe than sorry.

Source: had a customer in FL do this a few months ago loool


[2 Points] y_s_l_:

It's a better idea to buy a car worth less than 10k. Driving a really nice car with no proof of income is a top red flag for LE that someone is probably dealing drugs or something.

Go through craigslist for some decent car, and say you buy the car for 14k cash. Put down that you bought it for 3k or something on the proof of sale paper (owner will want to do this to save on taxes) and tell the people at the DMV that it had a lot of mechanical issues that you're going to fix up. The DMV has a KBB to check on car values to try and see if anybody is dodging taxes by writing the value of the car as lower than it is.

You should probably start laundering your money though. Start up some primarily cash business (can be a small one) and get some actual business, and then write up fake work orders and pay yourself that way. As long as you make sure to pay all of your taxes, the IRS most likely will leave you alone. They just want their cut of the pie.


[2 Points] None:

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[1 Points] None:

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[1 Points] cashan0va_007:

Like Stringer Bell told Marlo on the Wire... "But you got that Mercedes in your aunts name or something? Yeah man, that's how they get you. They use your money against you. The government, they don't want to see you organized. They use your own assets against you."


[1 Points] Questionmarkanswer:

What a lot of drug dealers and rappers actually do is lease from exotic car companies or high end dealerships. Then you're not buying it so it seized not a loss, and the cost may be high compared to a monthly payment on a more modest car but will likely be a few hundred to "over $1000 under $2500 usually" to lease such a vehicle. I'm a total square and am considering leasing because at least when I junk it out I could change for another. Another benefit, change the vehicle


[1 Points] PierceArrow02:

Or what you could do if you had say....just for easiness sake, 25k. Buy a classic or some oldie you dig, but one that's NOT in good shape. If its rare enough you'll easily still spend between 5-10k(obviously the goal is to stay under), but then put the rest of the money into restoring it(new paint, motor, performance parts, etc.) by the time you're done if you've picked right and been smart about it you could either A. Sell it for a small loss, however this money is now clean, or B. Just have a badass old muscle car or classic to mosh around in. That's what I would be thinking at least. Old cars aren't for everyone though. Buy right and it could honestly INCREASE the money you've put in. If you have ever more to spend, who knows...the reward could be fairly substantial even.


[1 Points] time2smoke:

I am in the banking business and I can tell you for certain our system will flag an account if more than 10,000 is deposited in less than a 30 day period It will also flag unusual patterns odd larger transactions close to the 10,000 monthly limit but under will also get flagged and the form filed. There is also a suspension activity report that all of my tellers must fill out and turn in discreetly after customer leaves if they feel anything was abnormal about the transaction. A not will be placed on the account and the customer will never know about it. At that point it is documented so the bank is protected legally and the head of bank security will generally decide if it something to be perused. Banks are required by federal law to track and report this activity. I would highly recommend opening a small business that can help provide you a source of documentable income. I have heard auto repair shops are great for this as it is hard to track the details of the daily transactions.


[0 Points] WarOnConsciousness:

Why not buy a couple decent cars instead. Try not to live beyond ur means.