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BostonBill

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  1. Wow, i've never heard of a CTR for something under $10k. That is new info to me. I've heard of SAR's for transactions under $10k, but never a CTR.
  2. Yeah, i called ahead to make sure .... they said they have over $20k worth of them on hand .... Wells Fargo is the CC
  3. i fully accept that risk ... it doesnt bother me if that happens .... if my business fails, i will have much bigger financial worries than a closed credit card account ....if it succeeds, i wont need credit anymore
  4. Thank you! yes, i was just reading MS threads today....it's a whole world i never knew existed..... lots of fear-mongering out there, i got caught up in it ..... sounds like my $20k is very small peanuts in the MS world
  5. Not following you. I have a limit on this card of $30k, so why would they disallow a $20k purchase? I always make large purchases over $10k on my cards, never had an issue. Also, if i do buy MOs, it wont be at that store anyway, so no worries there. A $20,189 purchase at Wegmans looks very different to a lenders fraud department than a $20,198 purchases at Ford, Google or a utility does. It may not be an issue at all but be prepared for them to question the purchase. That said, don't even give the filing of a report a second thought. You should seek to file a report whenever the amount
  6. Not following you. I have a limit on this card of $30k, so why would they disallow a $20k purchase? I always make large purchases over $10k on my cards, never had an issue. Also, if i do buy MOs, it wont be at that store anyway, so no worries there.
  7. Sorry, that's classic "structuring", in the eyes of IRS. No way would i do that, I want to keep things squeaky clean, legally. Structuring gets more people in trouble than the 10k cash and cash equivs. reporting. The first is illegal, the second is just a flag that "may" raise IRS questions but it's rare in most cases. I did a lot of the latter over the years and have never been audited or even had questions asked. See Dennis Hastert and Elliot Spitzer. Structuring is doing sub 10k transactions to avoid the 10k reporting requirement. It can be cash or cash equivalents. Also, it is il
  8. A good idea, but would need to pay legitimate expenses/receivers (couldn't just stockpile the money). I tried sending money to the DW once and they allowed one transaction but on the second one they wouldn't process it. Also, would cost him ~$250 more in fees vs. the Visa GCs, but a hell of a lot more convenient. Thank you. Curious - why wouldnt they allow a txn? .... were you sending $ via Paypal or Venmo?
  9. Sorry, that's classic "structuring", in the eyes of IRS. No way would i do that, I want to keep things squeaky clean, legally. There is nothing "illegal" about purchasing a gift card for any amount with borrowed funds. Now if you were to do that with money you are trying to avoid paying income tax, that would be illegal. That's correct, but the IRS often oversteps what is legal. When you see the horror stories from people who have been caught up in structuring, they usually get off, but have to spend large sums in legal fees. I don't want to create any risk of that happening. If
  10. As i stated in my original post: "No BTs are available" on this card.
  11. Sorry, that's classic "structuring", in the eyes of IRS. No way would i do that, I want to keep things squeaky clean, legally.
  12. Hello - So, i have a credit card with a 0% promo APR for the next 2 years. No BT's are available. And cash advance interest rates are a crazy 25%. I want to do a purchase, at my local Wegman's, of $20k in prepaid Visa gift cards (for business capital). Wegman's will be asking for my ID and social security #. Which is fine, as i'm not doing anything illegal. However, the one concern i have - since this is over $10k, will this trigger any type of CTR or SAR with the IRS? It seems like it could, since they are asking for my SSN. But also, if i buy money orders with these gift cards, i am
  13. LOL!!! this is in the healthcare space, more-so that just a pure tech play .... so it's not quite the same as a typical 'pure tech' startup .... healthcare disruption is a $1T+ opportunity that isnt going away, even if tech stocks crashed again .... just like Uber took off in the 'dark ages' of 2010 .... the opportunity to disrupt taxis didnt care about the bad economy at the time
  14. Thank you for the response! Yes, it's a business in the internet/healthcare/biohacking space, combined with blockchain ... trying to become the "Uber of healthcare" (Uber, as in "disruption", as opposed to having anything to do with transportation) ... so it's the type of business where the angels are interested based on the tech and 'use case' only, and they dont care about revenue for now. Typical 'dot com' business model, which i'm sure you're well aware of. :-) ......very high risk, but potentially very high payoff .... things are moving so fast in this space, that investors seem "slopp
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