/biz/ - Business & Finance

Just lose and you won't owe anything.

Launder the cash with shrimp.

>>9322944
Better yet, lose it all and write off the $30k on your taxes.

>>9322932
Dig a hole, put money in hole, fill hole with lighter fluid, ignite.

You can’t.
Your options are buy gold/ silver in small amounts and hold for several years or go into crypto and hold for over a year,
This way when u cash out you would only pay long term capital gains

>>9323026
OP here, this sounds like good advice.

Spend the cash over the course of the next year or two, and just continue to deposit your normal paycheck into your bank account.

Only use the cash and you won't raise any red flags.

>>9322932
Seriously, do muricans have to report las vegas slots win to a tax man ? What the fuck ? =D

>>9323069
This appears to be sound advice, but holding onto the cash and spending it constitutes a big risk. I don't want some jealous assholes to break into my house and rob me because they noticed I've been buying fancier cars and motorbikes recently.

I need a secure place to hold my cash and a personal safety deposit just won't cut it.

Was thinking maybe investing some of the money into mutual funds or bonds through an investment firm might work.

>>9322932
just so you understand, laundring money is not about paying no taxes. its about paying the minimum amount possible.

if you want to move the money to an account there are several ways. but honestly you would be better off buying assets for cash, like crypto or charged debitcards.

>>9323123
You must be a Canadian

Or just do the right thing and pay your taxes.

>>9323031
You can filter the money through another country or a charitable foundation and pay much lower taxes. This is also perfectly legal and is recognized by the IRS.

In the meantime you fucked up and there's nothing you can do this year.

>>9323154
>but honestly you would be better off buying assets for cash, like crypto or charged debitcards.
I like gold. It's very stable and isn't positively correlated with the equity markets. Cryptos, on the other hand, are very volatile and are also a very big risk to invest in. Investing in crypto would just be like me gambling again. If I win, I win big. If I lose....well, my money's gone.

>>9322932

>risking jail to make off with around 22k

how poor are you lmfao

>>9323206
Yea, I thought about that. Maybe make a trip to Switzerland or some other country with good investment grade bonds for me to invest in.

What do you guys think about China? I could deposit some of the money in an ICBC or HSBC account.

It should be safe there, right?

Just get a stronger safe and install security cameras, origin bumper stickers and other deterrents.spend the cash on the things you need. Or use the safety deposit box down at the bank. How is that insecure?

banks also monitor for transactions avoiding the reporting thresholds.
don't know if casinos are required to do that.
maybe use the cash for groceries and eating out? maybe the banks would notice you not using your card anymore.

>>9323254
Shut up. I've been poor all my life. I've had to rely on my skills to get to where I am today.

$22k is a lot of fucking money.

The lowest risk fee thing to do is just use it as spending money and just invest more of your legitimate money.

Laundering money ends up with you paying taxes anyways. But criminals don't care because the money was illegally obtained.

>>9323254
You mom sucks cocks for less than 50 dollars, I dont see the joke here.

>>9323316
>The lowest risk fee thing to do is just use it as spending money and just invest more of your legitimate money.
Yea, I thought of that option too. It's going to take me forever to spend this money though since I'm very frugal in my everyday expenses.
>But criminals don't care because the money was illegally obtained.
I didn't obtain my money illegally. I won it fair and square.

Usen LocalBitcoins or payfair to buy crypto.

>>9323267
That whole statement can not done, by you at least! For starters look up FATCA, HSBC account you need 2MM+, so much is coming in from china, you mutts think 100k is allot
>Switerland
you need to stop watching movies!

the freedom of mutts is not cheap, the IRS has a global taxation ffs, freedom must be expensive. None of you mutts will be free until you renounce your citizenship

>>9323389
buy in person and sell $2000 worth of magic cards on ebay twice a year?
you could claim you owned some black lotus from a decade ago and pay capital gains tax of 10%, or just not bother for small amounts they don't care about.

>>9323148
>buying fancy cars and motorbikes because you won a whole 70k
jesus christ anon, it doesn't matter what you do because you're going to be broker than before within a year

>>9323620
Ok, obviously I'm not going to making any purchases of fancier cars.

But I really wanted a Kawasaki Ninja ever since ages ago so I might be getting one of those.

A good one is like $4000-$5000.

I'm gonna get all the ladies, heheh

>bet 30k
>ended up with 100k
>won 100k

you wont make it OP
invest 50k into crypto and use the rest for life spendings, in what kind of shithole do you live that you have to be worried someone will break into your place and find your money

>>9322932
find someone willing to trade it for btc to you and get a btc debit card like tenx or whatever there are so many and just live life using that

>>9323678
Technically it's $130,000. I won $100,000, not $70,000.

My math and English is correct. Please don't misinterpret.

>in what kind of shithole do you live that you have to be worried someone will break into your place and find your money
I live in America.

>>9323679
BTC is pretty risky investment doe

>>9323678
>invest 50k into crypto
stop trying to scam me. The minute I invest that much into crypto, it's going to dip and I'm going to be holding a bunch of worthless cryptocoins.

I'd be better off bringing the 50k with me to China and depositing there in ICBC.

At least that way I can know for certain the majority of my money is still going to be available when I need to exchange it for USDs.

>>9322932
If you have to pay taxes from casino winnings, then it's the biggest scam in the world wtf. You're already at a disadvantage to the house. And with the tax added, wow... just wow..

>>9323826
Yeah, I know. Tell me about it.

Not many people can do what I do.

hahaha OP this is hopeless
>willing to bet his life savings in Vegas
>not willing to invest because it's "too risky"

if you had an IQ above 10 you would have known to
>keep your dirty trap shut and not blab to anyone about having all that cash
>just buy a safe and keep the cash in it, deposit all earnings from work into the bank
>use cash for rent, groceries, everything. Buy a prepaid visa thing with cash and use it for online purchases
>invest money in crypto via BTC ATMs and LocalBitcoins

>>9322932

Every month, just deposit $500 - $1,000

>>9323881
This honestly. I don’t understand why people fret over an amount like this, it’s really not much in the grand scheme of things. Just use the cash for everyday shit. Food, gas, etc. If you’re planning on a big purchase well that’s a different story. Best option of all is just buy ChainLink honestly

Just keep it in your house and get really good at hiding money

>>9324294
OP can literally just buy bulk copper with cash as savings, or try to find someone who will sell land for cash. There are many different options for physical investments. He could buy a classic car that he thinks will appreciate and keep it in the garage. I mean come on it's only 100k. this isn't hard

>>9323863
I just never heard of a place where casino winnings were taxed, except poker. Even here in socialistic Denmark, we don't pay tax on casino winnings. (Except tournament winnings in any sort of poker, backgammon etc)

>>9324648
This is America, everything is taxed.

>>9323303
>Shut up. I've been poor all my life. I've had to rely on my skills to get to where I am today

Yet you had an extra 30k to bring to Vegas and gamble with...... weird....

>>9322932

Here are 10 easy steps to keep your 100k


1- don't keep it all in one place. Spread it around the house in hard to reach places.

2- go to local bitcoins

3- buy small amounts of BTC IRL by meeting the seller in a public place ($1-5k)

4- Repeat 20-100 times

5- buy TRX

6- wait until mainnet goes LIVE may-june

7- sell TRX. you've now doubled your money

8- cash out

9- pay tax.

10- keep $100k
>>9322932


>>9322932

>>9322932
I hope you're using a VPN. :^)

>>9323267
You can't legally leave the country with more than $10k in cash without declaring it.

>>9322932
If you've got cash, put it in a safe deposit box. You won't collect any interest but it will be relatively off-the-books versus putting the money into a bank account.

You can use the money for living expenses or other things on a cash basis. You'd essentially be buying things at roughly a 30% discount since you're using pre-tax dollars. Depending on your living circumstances and what you pay off in cash, the $100,000 can last you maybe 10 years.

Alternatively, you can buy things like guns, ammunition, precious metals, and such things as those stores typically take cash. Things like precious metals don't require nearly as much space to store as paper money and are essentially indestructible so that even if the bank were to catch fire, you'd still have your metals.

>>9322932
AML reports will still have been filed. First of all, it's $10000 limit within twenty four hours. If they have your ID already, they aren't going to ask for it again. They're just going to file the report for any instance of transactions exceeding $10K within a 24 hour period.

Secondly, even if you didn't have $10K worth of transactions within any 24 hour period, your action at the casino is all tracked and observed by internal employees. There is no way the casino didn't observe you cashing out just under the limit every day. Now it gets filed, not as a standard large cash transaction report, but as a suspicious transaction. For trying to avoid limits. Yes they can do that, and I can virtually guarantee they did.

The government knows you have the money, regardless of whether it makes it to the bank. Don't be stupid, report it on your taxes next year.

And if you don't believe me, look up the relevant laws on AML / KYC reporting. It's all there. Casinos don't explicitly tell you what to do, so you make mistakes as you did.

>t. casino employee.

>>9326314
This, OP they already know you have the money either flee the country or report it.

>>9326314
conversely he could have lost it all somewhere else just saying

Just keep it at home hidden in a place burglars won't touch and you're fine
Just never tell anyone about the money

>>9322932
Did they get your id? If you withdrew 9500 dollars 11 days in a row I am sure the transaction has been recorded but it will take a high school drop out to check the flag and investigate.

I received 200k as an inheritance and I cashed in 2500-7500 each week. This was a few years ago so so far so good. I’m not sucking bubba cock yet. Also like that cash up and take a picture. That pile of cash feels good huh! I rolled around mine like Scrooge mcduck.

Also you can file and say you lost it all gambling again. That is very normal. Or you can say you lost most of it gambling again and invest the rest a transitional ira which will be tax deductible.

>>9322932
>He doesn’t know that casinos automatically report gambling winnings to the IRS
Congrats, but all you can do is offset the winnings with any gambling losses. Don’t even try to mess with this one, it’s like trying to hide your wages as a w-2 employee

>>9322932
Use the cash as your spending money while not spending any earnings.

>>9322932
>if you cash out over $10,000 they report to the IRS
>I cashed out $9500 in chips everyday
Wow. You must be one of those jewish accountants everyone talks about. This is absolutely fucking brilliant! You just broke the system! It's like you found a cheat code! No one has ever thought of this before, and it has never before been tried!

>p.s.
>structured withdraws to avoid tax reporting is both reported to the IRS and used as undeniable proof of deliberate tax fraud leaving you zero plausible deniability that "it was an accident."
>Israel will fuck you in the ass if you honestly think you got away with this, goy

>>9322932
>So, what I did was I cashed out $9500 in chips everyday until the 10th day,

Yeah, banks have systems in place to look for patterns like this.

Pay your taxes, retard. You're not smarter than the IRS or the banks.

>>9323267
You are a retard. Dummy, Switzerland complies with treaties where they report transactions to the US government. Google "FBAR".

You're also NOT getting 100k in fiat over the US border and into China. Sorry, kid, learn to larp better.

And yes, you ARE larping. There is no way you cashed out that much in chips, without A. the casinos being aware of you, B. asking for ID for cashouts over a couple grand, ONCE, and C. not reporting a SAR (suspicious activity report) with video of you at the casino cage - and all the casinos talk to each other, over issues like this.

This is all a larp.

Former casino back end here. Anything over $5000 is automatically reported on slots, if it's tables I believe it's over 25. You should have received a W2.

>>9328442
Nice try. Why the fuck would a casino issue a W-2, that's a statement of wages. You fucking retard.

Casinos, like banks, file CTRCs, or a FinCEN 103. You may or may not get a copy, since it's for the IRS, and not your own records, I don't see why you'd want one, only that it was filed.

And it's a flat 10k, period, it's not variable according to game type.

But hey, you tried. And failed miserably.

>>9328717
A w2g is made for winnings over 5k, and yes it varies on game type. Slot games it's 1.2k. You're supposed to receive a copy of the w2g, but even if you don't elect to receive it, it's still made. I don't understand why you're trying to be such a hardass anon. OP Look it up, they've got you logged already.

>>9328184
>>9328322
>>9328717
Why is this guy so mad?

>>9322932
even canadians aren't that cucked lol. fucking taxed on lotto winnings baka.

>>9325671

This

>>9323782
Dude if you have 100k, put like 20-30k into ether and forget about it

The casino has already reported you. Just like a bank they look for people trying to avoid the regulation by moving it in smaller amounts. You’ve already been marked.

OP here

Thanks for your replies guys

>>9323669
http://i.4cdn.org/o/1489523964935.jpg

Time to read the /o/ sticky.

>>9322932
you've already been reported, you can't cashout without showing ID

larper

>>9330095
They only check your ID if you cash out an amount above $10,000

bump

>>9322932
IMO your ass is already caught and getting tracked the moment you held 9,500$, pay your taxes

I would split the remanding money you have left, or atleast 1k inv estedlooking into QTUM or BAT, best surefire projects atm

>>9332068
stop trying to get me to buy crypto. i know all your scams.

i invented them.

>>9332100
lol
totally a "scam" mam
just giving ya food for a thought hope when the price rises it won't bite your ass.

>>9322979
you can't write off gambling losses if you have more losses than you have winnings. You can break even, but can't write it off.

>>9322932

Fellow gambler here.

Going from 30k to 130k in 2 weeks sounds like a dream run. Something i'd only ever dream of doing. If you actually did this, you should cherish it. I don't think I will ever see the day I do this and its one of my dreams to go on a big run in vegas one day.

Any chance you could elaborate on your tale of 30k to 130k? What games did you play? Where did you win big and lose big? Did you ever feel on the edge of losing it all but just pulled through?

Tell us the story. There has to be a juicy story behind making 100k in 2 weeks.

>>9323148

Fact cars and motorbikes (plural?). My nigga, you can’t buy more than one fancy car for under 100k. Also, where the fuck are you going to buy a car with cash and not raise any red flags... People don’t buy cars with cash money, just FYI.

Literally the easiest solution ever. Go to a coin shop and buy gold and silver bullion. Then you never have to worry abot Taxes... and when the dollar implodes in the upcoming currency crisis and there is a deflationary collapse of all asset prices... you'll be sitting pretty and will probably be able to buy multiple apt complexes.

Since gold is going to have to be revalued one day soon overnight to many multiples of what it is today to purge all the debt from the system that the world is swimming in.

So you can have a situation where a median price home drops upwards of 90% in value... now costing like 30k.... and a gold ounce being worth anywhere from 10k-100k (in the new currency)

>>9332189

dont listen to this guy hes living in a dream world

probably a compulsive wanker with $150 to his name

Now OP..... in response to my post above. You might not even understand gold and silver... but it is REAL money. And if you are 100k richer but don't actually need the money... it's best to buy gold and silver.

Because A. No taxes

And B. You could end up being very very rich in a dollar collapse. Now you might think oh bullshit the dollar isn't going to collapse. But in event that you are wrong you are absolutely GOLDEN having that metal in the event of a dollar collapse.... so it makes most sense to buy gold and silver because it doesn't seem like you need the money anyway.

These are pro tips anon. Even if you don't understand it and what I have alluded to. Please just do it. At least put half into gold. You will thank me later

>>9332205
Oh yeah? Then how come you couldn't come up with one single substantive rebuttal to my long post?

OP doesn't want to pay taxes first and foremost. Easiest way to do that is just buy gold... dollar collapse or not.

And in the event of a dollar collapse he's fucking set for life with a mere 30-70 ounces of gold.

>>9332235
>>9332189
I like your idea of buying gold.

>>9332154
I don't really like the term "gambler" because it comes with some negative connotations. I like to think of myself more as an investor when I game. You'll never see me play the slot machines or roulette simply because those are unbeatable games. I look for table games that can generate me the most EV and those are mostly Baccarat and Blackjack. Poker is also in there but I don't treat poker like work. Poker is more like fun and when I lose at it, I'm okay because I treat it as a game of chance.

Games like Baccarat and Blackjack, those are games that can be beat. So if I lose in the long-term I know it's not because of luck, but because of my skill level. Again, let me reiterate. I don't like to "gamble" my money. I risk my capital only when I am expecting the value of my investment to be worth its risk of ruin. Otherwise, I won't play.

The money I won from my Vegas trip was through Blackjack. To a regular ploppy it may have looked like I was just getting lucky and hitting a winning streak but I was actually playing Basic Strategy + Deviations along with occasionally counting the cards when I was feeling like there wasn't any heat from the casinos on me.

I remember when I was playing one of the dealers said,
>"I know you aren't counting cards because you split on a pair of 10s! Nobody does that."
Yes, it's true. According to Basic Strategy you're not supposed to split a 20 when playing against the Dealer UNLESS the Dealer shows a 4, 5, or 6. It just happened that the true count around that time was something like a +4 (really high) and the Dealer had a 6 so I took a risk and split it then voila! It paid off.

I also took insurance whenever I had a lot of money on the line too. Something you're not supposed to do according to BS. But you're supposed to deviate from that parameter and take even money when the TC is a +3....

So yea, there ya go. That's my story.

This thread is so sad and can be summed up simply.

Don't use banks.

there you go OP, that's from an accountant. No books, no paper trail, use your cash for restaurants, Craigslist sales (etc), but never purchase items from a regulated entity (dealerships, Microsoft store, you get it). This money is now your hidden safety net.

Good luck.

>>9332325
Absolutely OP... now I do think there is actually an amount like 7-8k of more if you purchase in a day they report it. But that just means you have to go multiple days and probably best to go to a handful of different coins shops.

Trust me tho... put 50k into gold at least if not all of it. And you will be happy soon.

But NEVER sell for dollars or at least not all of it. If gold doubles to 2600... you did not make a profit. That's just a phantom profit because all that happened is the dollar became more worthless. That gold ounce didn't change at all.

Since the entire point of buying gold in the first place is that you distrust fiat and want to have money and wealth for when fiat dies.

>>9322966
Unironically this. Just say you bred some exotic King Kong shrimp and sold them to japanse enthusiasts in person (can sell upwards of $800 each depending on the quality). Not like the IRS is gonna go sniffing through for shrimp supplies and you can just say that your colony died out or some shit.

>>9323031
dont be a fucking idiot, put your cash in a safe deposit box at the bank.

This is literally what crypto was made for. Buy it with cash. Cash out in December.

Pay taxes on crypto gains, if any. Then the IRS wouldn't be on your ass.