Quick question

So i carry alot of cash from selling, Lately ive been putting 300-600 dollars a week into my bank account, what is the maximum you can deposit before its reported to IRS? I was told it was anything over $4,999, if that is is the case,is that the limit per week or per month? Because i want to start saving money in bank account to atleast be able to buy a house or a car something nice without looking like a drug dealer. And plus i hate having all my money in a safe...


Comments


[7 Points] dnmuser1234:

Make a square-shaped website that says you are a computer programming contractor that works for individuals and put your rates at $250 an hour. Do some more research than this obviously but you get the idea. Then you can deposit your money and file it when you do your taxes and it looks clean.


[6 Points] ShadowClones:

Use cash for groceries, gas, and entertainment. Use clean money for bank


[3 Points] SilentMajority420:

http://peopleof.oureverydaylife.com/deposits-reported-irs-7557.html

Do some more reading, maybe open a couple more bank accounts as well, and also do what /u/flawdaessay said and start a fake company. Just out of curiosity, whatcha peddlin'?


[2 Points] disk1997:

Well you should NEVER put any dirty money in the bank ever your creating a paper trail saying i have income when the IRS decides they want taxes on your income and they will want it its there job to collect taxes they will ask you where it came from and if you can not supply a legitament reason they might take the money. You need to launder it before you can deposit it.


[1 Points] Udaypbuh:

I would get a job so you are at least paying some taxes. Otherwise find a place you can pay rent in cash and get your parents/relatives/friends to buy the car in their name then you give them cash.