Money Laundering

dinobelly said:
and i just bought a 1978 motorcycle the other day - guess what? taxes again!
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every time you buy an automobile you pay the state a sales tax. Automobiles fall differently as far as taxes are concerned no matter if it is new or used. You see questions like yours from people who buy privately because u dont see "taxes" when you go thru a dealership because its added at the end of your cost before the keys are handed to you.

Whereas private selling you pay your tax collector the tax before they issue you your tag.
 
I'm well-aware of everything you said.....see my post prior to the one you quoted. Was just illustrating how ridiculous that no matter how many times a vehicle is sold, it's taxed. It's bulshit. In the past 2 years, I've purchased that 1978 Motorcycle, a 1987 Volvo wagon, a 1979 Mercedes, a 1982 Mercedes, a 1991 Honda and a 1989 pickup truck. All taxed - just how many times, I'll probably never know. LOL What you quoted of mine wasn't a question.....I'm well aware of vehicle taxes - boats, cars, trucks, motorcycles, etc etc - anything the state can register. In my younger years (about 10 years ago), since I purchased or sold a total of 10 or more vehicles in one calender year in my state, I was required to get my dealer's license. Dealers in my state aren't required to collect state sales tax on vehicles, unless they register the vehicle at the dealer. For example: I purchased that 1987 Volvo wagon from a dealer. He gave me the keys, the signed title, and a bill of sale. When I went to the DMV to register the vehicle, I was required to to pay state sales tax at the DMV.

S1rSmokesAlot said:
every time you buy an automobile you pay the state a sales tax. Automobiles fall differently as far as taxes are concerned no matter if it is new or used. You see questions like yours from people who buy privately because u dont see "taxes" when you go thru a dealership because its added at the end of your cost before the keys are handed to you.

Whereas private selling you pay your tax collector the tax before they issue you your tag.
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S1rSmokesAlot said:
take all your money to different casinos every so often. Not enough to where people notice you cuz all a cop would have to do is ask them and then they say "he comes in here at 9-930 every mon and thrus" cuz then it places u at the scene.

Anyway take whatever cash you want to exchange into a casino buy some chips. Play a game or so and cash out. You get all clean money that way.

How do you think the mobsters in Vegas did it back in the day. Just watch the movie casino.
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I don't mean to burst your bubble, but that isn't money laundering.To launder money you must conceal the identity, source, or destination of illegally gained money. What your doing in the casino is just exchanging one set of bills for another, and it wouldn't be any different than just saying you won the money at the casino without actually doing so. They don't track the individual serial numbers of bills to find out where they have been.
 
right, you'd actually have to declare that as winnings and then would be taxable income... plus you'd also have to actually win...
 
NoDrama said:
I don't mean to burst your bubble, but that isn't money laundering.To launder money you must conceal the identity, source, or destination of illegally gained money. What your doing in the casino is just exchanging one set of bills for another, and it wouldn't be any different than just saying you won the money at the casino without actually doing so. They don't track the individual serial numbers of bills to find out where they have been.
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Lol o. Then id just have a legit side and wash it then lol.
 
wannabefarmer said:
Isnt it a shame that the entire US tax system has been created to promote people to not pay their taxes? Every tax incentive, law, etc... makes people look for ways not to pay taxes.

This whole problem should be changed so that everyone pays the same amount of taxes. People, businesses, all the same. There should be a VAT tax only. We should only pay when we buy something.

As far as money laundering goes. There are many ways to do it. Just pay attention to what major drug dealers do, Taliban terrorists, and politicians. You can learn everything from them.
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You should check out some of the fair tax stuff, if you don't know about it already. It's a good idea.
http://www.fairtax.org/site/PageServer
 
dieselfan said:
I think if you are going to start a business that sells weed the government may look closer into your personal life and maybe find your grow operation in the process. I am in my last year in business school at a good university doing a project on start up companies and i am researching fishing charters. You could claim to charge $200 dollars a person, 6 people a trip, 2 trips a day thats $2400 dollars a day if your running at full capacity and your could get a nice new toy in the process(sick boat)
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Tax deductible of course :P :P :P. Nice work man!

Create an online store that sells virtual items.... like game accounts/currency for example (or something that isn't legally debated) and your away!!! Just make fake buyers and say they mailed you cash or whatever suits you.

(Dieselfan, your input on my idea would be greatly appreciated as you are learning this stuff :) )
 
Dont launder money.. Save it in boxes in your attic.. Use your part time job as a front and spend that money on things that will be on paper, spend the dirty money on things like fast food, or change at the car wash or whatever.. Do not drop large amounts of dirty money on cars, houses, GUNS, or any other high value item, or anything where you'll have to sign a paper..
 
i probably wouldnt just store a bunch of cash in boxes in your attic. if you get raided, bye bye money. they will seize everything.

store your money somewhere they cant trace to you. a friends house or something. no relatives.

and be smart and buy your self a good safe.
 
i dont know if this has been mentioned, but i have a service skill/trade that i believe would be an excelent front - Cutlery - to be more specific, knife sharpening. large customer "potential". straight cash from providing a service to individuals and companies. start up is low, easy to explain money - BUT - you must live within your means.. buying used cars, houses in the "not so great neighborhood", growing a beard - these types of things.

whatcha think? worth pursuing?

ChroNic
 
Flip houses. Buy a run down house. Use it to grow in. Fix the house with the dirty money. Take your time and do a nice job. When your grow is done and the house is done, sell the house and start again. You can now take the clean profit from the house and continue to do this and after a while you can build yourself up and get bank loans.

Your dirty money is now clean money.
 
IgrowBIGG said:
Hello. I grow of course and within the next year or two i will be starting to make some more money. Too much so that the 5 or 10k the bank lets you deposit each month is holdin me back a little. I would appreciate it if anyone who has or has had exp w this topic and knows the workings of laundering to plez enlightin me and the roi community. THX.

This is an article I found that is quite interesting but not as in depth as I would like.

http://www.wisebread.com/how-to-launder-money

:eyesmoke::eyesmoke::eyesmoke::eyesmoke:
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read the article i agree does need more details
 
I would open a pet grooming business, and use fake appointments to cover the dirty money. Basically have one station closed all the time, but on the books it has been occupied, and making money all day.
 
There are so many ways just be creative!

But If I was you, frequent a nice country not too friendly with USA, Eastern European or Asia, get citizenship, stash your money in accounts there.

Or, dig a big whole and fill it with the biggest bills I could get.

Cash business are good, car washes etc.
 
BL0TT0 said:
I would open a pet grooming business, and use fake appointments to cover the dirty money. Basically have one station closed all the time, but on the books it has been occupied, and making money all day.
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The wort that could happen is having to get people to vouch for you. You still have to pay your 10% GST though :(.
 
Storing cash that is more than a couple months expenses is not a great idea. Inflation takes a big bite out of your purchasing power each year. Flipping houses isn't all that great either since you could very easily lose 50% of the value of your home in these troubled economic times. Half of Floridians owe more on their home than it is worth. $500,000 homes are now only worth $200,000. Have any idea how tough the housing market is in the USA? Its SHITTY!!! People have had homes for sale in good neighborhoods for 3 years now and no takers. If things get better then perhaps the flipping will work, but I wouldn't put my money there. Starting in 2012 you will have to fill out a IRS form for any transaction over $600, doesn't matter if its cash, credit, wampum beads or beaver pelts.
 
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