Saturday, October 31, 2009

Where should I go to cash a check?

I will soon be bringing in large checks from online poker. But I don%26#039;t want to get harassed/audited or whatever for suddenly depositing large amounts of cash into my bank account. I pay my taxes and I just want to avoid the headache of needing to explain myself.



It would also be nice to have quick access to my cash. I don%26#039;t want to wait multiple days for a check to clear in a bank. I%26#039;m willing to pay a fee for check cashing if it buys me some privacy. What%26#039;s the best route to go?



Where should I go to cash a check?apply for a loan





Just deposit the checks. Assuming you actually win of course. Nobody at the bank is going to ask you questions. (Unless the check looks fake.)



No matter where you cash them, if the amounts are large enough a Currency Transaction Report will be issued.



If the checks are really large, a check cashing place won%26#039;t handle them anyway since they won%26#039;t have the money on hand and they don%26#039;t know you. They also won%26#039;t be comfortable with these checks.



The IRS won%26#039;t bug you either, provided you make the proper quarterly estimated taxes on this gaming income.



Where should I go to cash a check?

loan



Do 1 at a time and maybe once a week. Or do it at different banks.|||How are you explaining what the taxes are for? This question may be best for a tax atty or acct. Possibly open a Nevada corporation, for the purpose of gaming, an account in Nevada %26amp; have your checks sent directly there. The corp will pay the taxes the reason is obvious %26amp; you have no headaches or worries. But of course check with a reliable Tax Accountant or Attorney.

No comments:

Post a Comment