<< <i>Meet at the buyer's bank and have him get a check payable to you from the cashier.
If you see Paul Newman or Robert Redford, take your coins and walk out. >>
Why would you want a check? >>
Because large cash transactions [$10K or more] are required to be reported. Per the JMBullion info page cashier's check are not considered to be cash if they are over $10K. I do not know if the rules that apply to dealers selling to/buying from customers also apply to private person to person sales. I bought some Leafs from my local dealer for cash and and he said I had so much cash headroom left until the end of the year to stay under the $10K limit. According to the JMBullion info, related transactions must occur within a 24 hour window.
<< <i>Meet at the buyer's bank and have him get a check payable to you from the cashier.
If you see Paul Newman or Robert Redford, take your coins and walk out. >>
Why would you want a check? >>
Because large cash transactions [$10K or more] are required to be reported. Per the JMBullion info page cashier's check are not considered to be cash if they are over $10K. I do not know if the rules that apply to dealers selling to/buying from customers also apply to private person to person sales. I bought some Leafs from my local dealer for cash and and he said I had so much cash headroom left until the end of the year to stay under the $10K limit. According to the JMBullion info, related transactions must occur within a 24 hour window. >>
In this market you probably bought silver at a higher price than you are selling it for anyway so since you can't effectively write off a real loss why would anyone feel the need to report themselves?
People know it isn't fair that if they made a huge profit they would be taxed all in one year but a huge loss would take 10 years to write off. Since the government is so greedy they shouldn't be surprised if people decide to cut them out of the deal.
That only applies to little people of course . If you are big then you can be super reckless ,take a huge loss and the government will just give you back whatever you lost by reaching into the taxpayers wallet.
<< <i>Meet at the buyer's bank and have him get a check payable to you from the cashier.
If you see Paul Newman or Robert Redford, take your coins and walk out. >>
Why would you want a check? >>
Because large cash transactions [$10K or more] are required to be reported. Per the JMBullion info page cashier's check are not considered to be cash if they are over $10K. I do not know if the rules that apply to dealers selling to/buying from customers also apply to private person to person sales. I bought some Leafs from my local dealer for cash and and he said I had so much cash headroom left until the end of the year to stay under the $10K limit. According to the JMBullion info, related transactions must occur within a 24 hour window. >>
In this market you probably bought silver at a higher price than you are selling it for anyway so since you can't effectively write off a real loss why would anyone feel the need to report themselves?
People know it isn't fair that if they made a huge profit they would be taxed all in one year but a huge loss would take 10 years to write off. Since the government is so greedy they shouldn't be surprised if people decide to cut them out of the deal.
That only applies to little people of course . If you are big then you can be super reckless ,take a huge loss and the government will just give you back whatever you lost by reaching into the taxpayers wallet. >>
What's so funny? Reporting has not much to do with profits and/or evading taxes. After all the years on this forum, one would think that you'd be aware of the anti money laundering activities and form 8300 reporting, but I guess not. Probably likely that they're interested in where/how you get your large wads of cash.
Comments
<< <i>
<< <i>Meet at the buyer's bank and have him get a check payable to you from the cashier.
If you see Paul Newman or Robert Redford, take your coins and walk out. >>
Why would you want a check? >>
Because large cash transactions [$10K or more] are required to be reported. Per the JMBullion info page cashier's check are not considered to be cash if they are over $10K. I do not know if the rules that apply to dealers selling to/buying from customers also apply to private person to person sales. I bought some Leafs from my local dealer for cash and and he said I had so much cash headroom left until the end of the year to stay under the $10K limit. According to the JMBullion info, related transactions must occur within a 24 hour window.
<< <i>
<< <i>
<< <i>Meet at the buyer's bank and have him get a check payable to you from the cashier.
If you see Paul Newman or Robert Redford, take your coins and walk out. >>
Why would you want a check? >>
Because large cash transactions [$10K or more] are required to be reported. Per the JMBullion info page cashier's check are not considered to be cash if they are over $10K. I do not know if the rules that apply to dealers selling to/buying from customers also apply to private person to person sales. I bought some Leafs from my local dealer for cash and and he said I had so much cash headroom left until the end of the year to stay under the $10K limit. According to the JMBullion info, related transactions must occur within a 24 hour window. >>
In this market you probably bought silver at a higher price than you are selling it for anyway so since you can't effectively write off a real loss why would anyone feel the need to report themselves?
People know it isn't fair that if they made a huge profit they would be taxed all in one year but a huge loss would take 10 years to write off. Since the government is so greedy they shouldn't be surprised if people decide to cut them out of the deal.
That only applies to little people of course . If you are big then you can be super reckless ,take a huge loss and the government will just give you back whatever you lost by reaching into the taxpayers wallet.
<< <i>
<< <i>
<< <i>
<< <i>Meet at the buyer's bank and have him get a check payable to you from the cashier.
If you see Paul Newman or Robert Redford, take your coins and walk out. >>
Why would you want a check? >>
Because large cash transactions [$10K or more] are required to be reported. Per the JMBullion info page cashier's check are not considered to be cash if they are over $10K. I do not know if the rules that apply to dealers selling to/buying from customers also apply to private person to person sales. I bought some Leafs from my local dealer for cash and and he said I had so much cash headroom left until the end of the year to stay under the $10K limit. According to the JMBullion info, related transactions must occur within a 24 hour window. >>
In this market you probably bought silver at a higher price than you are selling it for anyway so since you can't effectively write off a real loss why would anyone feel the need to report themselves?
People know it isn't fair that if they made a huge profit they would be taxed all in one year but a huge loss would take 10 years to write off. Since the government is so greedy they shouldn't be surprised if people decide to cut them out of the deal.
That only applies to little people of course . If you are big then you can be super reckless ,take a huge loss and the government will just give you back whatever you lost by reaching into the taxpayers wallet. >>
What's so funny? Reporting has not much to do with profits and/or evading taxes. After all the years on this forum, one would think that you'd be aware of the anti money laundering activities and form 8300 reporting, but I guess not. Probably likely that they're interested in where/how you get your large wads of cash.
looky here too