Cash questions

eieio35 · Jun 9, 2008

My local paid me a large sum. What is the best way to deposit into the bank, so I can pay bills, that would throw up a flag for the bank examiners or IRS?

any tips?

thanks

Brock Landers · Jun 9, 2008

Just keep your CASH Deposit under 10K per transaction and you will not have a single questions/flag raised...

X-Files · Jun 9, 2008

Small weekly deposits.

$tinky · Jun 9, 2008

Here a thought, keep it in your sock drawer so that next week when you have to pay it back to him you don't have some bs story about not being able to get that much out of the bank.

ParanoidAndroid · Jun 9, 2008

Keep in mind that many banks now have sophisticated software to detect "structuring". That is, they look for deposits that are frequent and add up to more than 10K

If I were you, I'd see about keeping most of it in cash. Otherwise, make small deposits over a very long period of time.

lapdance · Jun 9, 2008

$tinky said:
Here a thought, keep it in your sock drawer so that next week when you have to pay it back to him you don't have some bs story about not being able to get that much out of the bank.

nobody would do such a thing

steaktartar · Jun 9, 2008

$tinky said:
Here a thought, keep it in your sock drawer so that next week when you have to pay it back to him you don't have some bs story about not being able to get that much out of the bank.

rarified air