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Chest...I was catchin up on my reading and saw your post that you should get someone else to send the western union for you to keep your name out...Correct me if I'm wrong but wouldn't you want your name to be on the western union for records to offset your earnings..so say you sent $4000 through western union and recieved and $8000 check, you really made $4000 so you can use the western union as proof. Also, does western union report when you send money overseas?? I've done this several times and didn't think this would be a problem. One other thing, how would someone get audited? If you recieve anything under 10g's the bank doesn't report it correct? Last thing, would having your checks cashed at a check cashing store help to avoided being reported? They can charge you 1% to cash your checks, and as long as they get their money all is well. Any comments, suggestions?
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P.S. Which of you guys has been audited and for WHAT reasons? maybe we can learn from your misfortune.. thanx -
Over the last few years, W.U. employees have become more inquisitive regarding the sending of money overseas. Some of this, it seems , is due to gov't pressure in its quest to prevent money laundering etc. etc. Many law abiding people don't like to have to answer questions or to have to present ID. So what I was saying was that it's possible to have someone else send W.U. money for you since the books don't really care who it comes from. This prevents your face from repeatedly being at the W.U. office. You have to know, I'm sure, that the average amount sent through W.U. is MUCH lower than the example you listed. Overseas that figure from W.U. internal audits is under $700. So you're trying to stand out when you deal with your type of numbers. As for the tax issue, I'm not interested in getting into specifics here, sorry. But I could only imagine that if you have someone you trust with your post-up cash....then you can have someone you trust with the payout?..... As for banks....a lot depends on your relationship with your banker. Despite the fact that their jobs have greatly diminished in stature over the last few decades, they still hold considerable flexibility in many issues. Legally and to the best of my knowledge, they have to report cash transactions of 3000 and up as well as other transactions of 10,000 and up. BUT they are also required to report any suspicious transactions, i.e. unusual as it pertains to you specifically, not necessarily suspicious in general. This is very vague and is meant to be that way, so as to give bank employees a lot of leeway in excercising it. What may be suspicious to me, may not be to you. Hope this helps....I don't want to get into the other issues you brought up since we all know that none of us here are interested in breaking the law or avoiding taxes.Comment
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Chest just read your response.. I appreciate your insite, and thanks for enlightening me on these issues..also 4 responding so quickly.Comment
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