Lol, that's the worst advice so farI see a lot of threads like this...mostly bad advice
What is your goal here?
If you want to buy property you can bring cash to closing...you want to turn 50k into a check? Go buy a 69 camaro. N pay cash....sell it n deposit the cashiers check in an account.
Well dude, when you get audited they will ask where you got the money for it for starters and if they are investigating you, then you better have your shit in order. Spend 50k on a Camero, don't you think the seller has to report that income? Don't you think the government will nail your ass for buying it? If you get audited you think the IRS will just 'overlook' that shit. Get real. Stick to what you know man. No one here is trying to turn cash into a check. How does buying a 50 thousand dollar Camero solve that problem?I have friends n family who are legit...they buy n sell cars to flip all the time...it is pretty common for people to buy cars cash...n it is pretty common to sell them ....what the fuck are you talking about?
50 k is peenuts. iv blown thru 50 k in the past 3 months. try spending it. put shit in your moms name. when u need money sell something, burry some. hide some in your freezer
this is probably the worst advice you can take. Yeah, go drop 50k on a car with no way to prove where it came from. When the seller of that camaro claims the money for taxes it will show the buyers name and for how much.I see a lot of threads like this...mostly bad advice
What is your goal here?
If you want to buy property you can bring cash to closing...you want to turn 50k into a check? Go buy a 69 camaro. N pay cash....sell it n deposit the cashiers check in an account.
If you are under investigation, they will check that. They will go back years and analyze your grannies finances to see if it's possible. They will talk to estate lawyers too, otherwise everyone would do that, don't you thinkI believe you are allowed a one time gift loan tax free u p to 100k ....say it is a gift after your uncle dies or granny.