"Michael A. Terrell" wrote in message
...
Roger Halstead wrote:

On Sun, 30 Nov 2003 17:34:24 -0500, pltrgyst
wrote:

On Sun, 30 Nov 2003 04:33:44 GMT, Roger Halstead
wrote:

First, any cash transaction with a business or bank of more than
several hundred dollars is supposed to be reported to the government
as it's suspicious (money laundering among other little items brought
that little problem about)

$10,000.00 is many, many hundreds.

I was given the figure of "several hundred", but even if it is 10,000
that would rule out purchasing cars, homes, boats, and lots of other
stuff and services.

Paying cash for $200 worth of gas will definately cause questions.
Check or credit card doesn't even raise an eyebrow.

You'll have to fix the return add due to dumb virus checkers, not spam
Roger Halstead (K8RI & ARRL life member)
(N833R, S# CD-2 Worlds oldest Debonair?)
www.rogerhalstead.com

-- Larry


It wasn't that long ago that I worked night shift in Cincinnati, and
had a full hour drive home. I usually carried around $300 at all times,
in case I broke down at night. It came in handy once, when I blew out a
tire on the step van I drove, and the only mobile tire service I could
get wouldn't take a check, or a credit card that didn't have a business
account with their company. $185 for the tire, and another $50 for road
service late I made it to work. By the time I filled the 30 gallon gas
tank that night, I had spent well over 200 in cash.

Several other times I stopped by the Sears, Wards or J.C. Penny
outlet stores for something and found an expensive item I needed for my
home, and for 75% off so I paid cash for it and took it with me. You
should have seem me take a full size drafting table home, tied to the
roof of a '70s Dodge Colt. I took the legs off and put them in the car,
threw a blanked on the roof to protect the finish, and tied it down.
--
24 days!


Michael A. Terrell
Central Florida


Roger, I believe it was ME who gave the figure of several hundred dollars.
You have to be dreaming or something.. There are items costing several
hundred dollars which don't require an investigation by the government even
if paid by cash. Stereos, TVs, HAM radio, Furniture, large Appliances -
those sorts of purchases. MANY of which can top the $600-$1000 or more -
mark. NOT EVERYONE HAS or uses plastic. ALSO as to GAS, some of the newer
vehicles can suck up a lot of gas, especially if the price is close to $2
per gallon and they have dual tanks AND EMPTY. A family going on vacation
with no plastic might well blow $300 or more on gas, food, etc just to
travel. It doesn't have to imply an illegal transaction. I've picked up
patients in Emergencies as a medic who did NOT keep their cash in a bank,
but rather ON THEM. WE've counted out THOUSANDS of dollars. Many homes today
locally have been broken into (Home Invasions) - the elderly robbed of their
cash - THOUSANDS. Many people simply do NOT trust banks OR don't believe in
or have credit. It is NOT inconceivable for people to use cash rather than
plastic. It was reported recently a guy took his penny collection to the
bank. $10,000 worth to cash in. I don't know what he did with the cash in
trade, but according to your term, he would be "laundering" the coins. Is
that cause for investigation? NO. Many people save money as well and don't
always run to the bank until such huge amounts build up. There is nothing
relating to conspiracy about it. As another man above suggested, there are
times, you get deals for paying CASH. CASH IS NOT DEAD YET! As to being
reportable income...$600 OR MORE PAID IN PERSONAL INCOME is reportable AS
INCOME at years end either by 1099 or other applicable forms. SALES IN ANY
AMOUNT IS REPORTABLE AS WELL, IN A DIFFERENT SENSE - AS SALES. I report my
sales every quarter. Be it $1 or $25,000. I pay the sales tax collected on
it to the state, I pay a tax on the gross sales to our School District as
required and at years end, I pay an INCOME TAX on ALL to the state and
federal governments. I am lucky in that my community and county do NOT
impose a business or sales tax. So, I've listed all my business tax
liabilities per year - not counting my "personal" school tax and head tax
here in borough. My accountant takes care of all of that. IT IS NOT AN
EYEBROW RAISING EVENT. I OUGHT TO KNOW, I AM IN BUSINESS. Yes, there
probably is shady crap going on. We're talking plastic here, which does NOT
eliminate identity theft and the use of cash which is not a dead principle.
The issue was about Radio Shacks practices and other shopping venues, not
ENRON type deals. G.W.

On Mon, 01 Dec 2003 07:28:19 GMT, Roger Halstead
wrote:

I was given the figure of "several hundred", but even if it is 10,000
that would rule out purchasing cars, homes, boats, and lots of other
stuff and services.

That is the precise idea behind it...

-- Larry