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laundering
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[9 Points] ChicagoDrillinois:
[5 Points] ForLol_Serious:
Anyone want to buy my art?
[3 Points] None:
thats what people already do with all forms of art. check out the ridiculous prices for "glassart"
[3 Points] DextroShade:
That's actually a good idea because any randomly splattered paint on canvas could be called "art"
[3 Points] Theeconomist1:
I guess it depends what amounts you are talking. This might work for smaller amounts but for anything moderate to large there is going to be a lot more to laundering money than this. It's not quite as simple as selling X and suddenly having funds that are laundered and clean from the perspective of your taxing entity.
But I can tell you for any decent amount (like anything besides just some spare spending money), this alone won't be enough to escape problems should you be audited or get under some agency's radar.
When you launder money, the legit business is really just the very start. There is a process to it. It's not quite as easy as picking an item and then selling it millions of times over. At least in the Us, with the IRS you have to prove your assertions on your return. You don't have the presumption of innocence with the IRS. If you are saying selling hundreds of thousands dollars worth of "art", you are gonna have to show that you had legit buyers. There will also be other taxing entities more than likely (state level for instance).
Otherwsie if you think about it, if it were that simple, anything would serve to launder. I could buy a million screws for a penny and claim I have buyers buying it up at a buck. What I'm saying is that it is entirely possible to use artwork as your laundering business, just be aware that there is a lot more to it than just "selling" it.
[2 Points] aSchizophrenicCat:
Yeah. I mean it's a matter of creating what seems like a legitimate source of income. So selling art would work, but better make it seem legit just in case irs wants to sniff around your financials.
yea dude send me btc ill buy ur art