 How can i get £300 in 3 months? |
| im 14 and im trying to get some money and i need adwice how to get it fast, with out any stupid answers like rob the bank!!!!... |
|
 I have a qustion im a teenager who's plaining on moving out of my parents house? |
| i am turning 18 years old next year and im plaining on moving out of my parents house, i was told to buy things now so i wont have to worry about it next year when i move. i was wondering can any 1 ... |
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 What would you do with £500,000 if you had it? |
| When asked the question, people always say they would spend it on their family and friends and then what's left they would spend on themselves so i guess my question is, truthfully, how much do ... |
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 How do I make money fast? |
I need a good way to make pocket cash?
I'm 17 and I NEED money for extra clothing, my girl, new laptop, a car, driver's education class, and more stuff, and I am broke right now.
... |
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 How do I make some money?!? |
| Hi guys, I'm currently only able to work a few hours a week and I'm hoping to save up to get married shortly and needing to find ways to make/save money. I wondered if any of yo have any ... |
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 What have you done to bring in additional income as a stay at home parent? |
| I have quit my job and will be staying home for awhile. I am thinking of ways to cut costs like cooking meals at home (potential savings = $500 monthly in eat out tabs). I will be selling some of ... |
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 If I pay WalMart with a personal check, will my funds be deducted inmediately? |
| I'm not sure what the little "check scanner" really does, but I need to know if I can pay today with my check and have time to deposit the funds to my account tomorrow. My checks are ... |
|
 Whats the best way for me to DOUBLE my MONEY QUICKLY? |
ive got over $1600 in savings but need 3 grand quickly like within days to a week.. whats the best legal way for me to double my money with the securest return..
-i thought about gambling ... |
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| What should I pay off with my bonus? |
I have a $3,000 bonus and $9,000 in proceeds from a stock purchase plan. What should I do with this $12,000?
I have a $30,000 student loan at 5% $206 a month
$14,000 car loan at $290 ... |
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 Should I accept this counteroffer? |
| My friend and I worked together. He left and went to another company. Then called me to recruit me over there. Now my employer is counteroffering for a $12,000. increase in annual pay. I am ... |
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 If you are 23 years old should you have a will? |
If you die young does your parents automatically get your assets or what happens to them?
Can you make a legal will on your home computer and just have someone sign as a witness or do you ... |
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 What does the 'K' mean when used in money such as 25k? |
| I know it means thousand as in 25k but what does it really stand for?... |
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Nelson | If you write a personal check($50,000) to a close friend for whatever reason, does it get reported to IRS? |
this is personal check from personal checking account in Bank of america or Washington mutual & that's the exact amount you have. So after the check gets cashed, you have zero balance. will this be a problem for any reason? |
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Rachel☺
 |
yes, any thing 10,000 and over get's reported. |
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LITTLE_JOHN
 |
your friend will have to claim it as income......besides when you write that kind of a check it will automaticlly be reported by the bank........you have to leave 10 bucks in your account so it won't be closed out.....it would be better if you with drawn the money in smaller amounts.......less questions will be ask.........i hope that money is clean.....lol |
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Blue Rose
|
This will not close out the account, you have to do that in person at your branch office. If you gift someone that kind of money of gift tax return (I believe it is form 709) has to be filed. Tax gifting exempt amount in the US is $12,000.00 per person or entity per year.
I would recommend consulting with a financial planner or estate planning tax attorney before releasing that kind of money to one individual.
By the way, banks report ALL CASH transactions over $10,000.00 to the feds. |
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zioncanyon
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anything. over 10k must be reported. its that simple. look up info on gift taxes |
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Ted
|
No. The IRS is concerned with tax issues.
There are other government agencies which monitor money laundering. Which one depends on the type of charter the bank has. Much is made of $10,000. This refers to cash and things like cash that are hard to trace by themselves such as bank official checks and money orders. A Currency Transaction Report must be filed for other, smaller transactions that are "suspicious" or appear to be structured to evade reporting requirements.
The IRS will only find out about this if they notice the fried for other reasons. Then this transaction will stand out. If it's income, why didn't he pay taxes. If it's a gift, why wasn't gift tax paid? It is above the threshold for gift tax exemption. |
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cal1
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yes. Any amount 10,000 and over has to be reported to the government, especially these days with the threats of domestic and global terrorism |
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bluesfan86
|
If you wrote somebody a check for $50k, the onus of responsibility to report that money as income would fall to the person cashing or depositing the check. Understand, the gubmint doesn't keep track of all your personal financial transactions... but they have nearly unlimited power to audit you if they feel that there's something fishy going on.
However, I think the best test of this theory is for you to send me a check for $50k and we'll run this through scientific testing. :) |
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resigned
|
the person recieving the money in denominations over 10,000.00 will have a form submitted through the bank and yes it goes to the irs |
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uteva713
|
Most banks just close out your account when you hit 0 unless they charge you for the account then you need to call as soon as the check cashes and close it. I am not sure about the whole IRS thing. On a personal account they would be looking for proof of income I would think not proof of spending. |
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Amanda F
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it should not have to be reported if it is given as a gift. but why would you empty your account and leave yourself nothing. |
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Mark B
|
Banks are required by law to report any transactions over $10,000 to the IRS. |
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James L
 |
Yes, anything $10,000 or above that gets transfer from or to your account in a weeks time is reported
(ex. if you make 10 $2000 transfers from Monday to Monday, or Wednesday to Wednesday,it will be reported) |
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swim2win
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The bank will close your account temporally until another deposit has been made. |
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Dick W
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If your friend deposits the check, yes, it gets reported to the Instant Robbery Service (IRS). All deposits of $5K or more are reported. |
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