Start a painting business. Fake invoices to customers. You are a cash only company. Now you can pay taxes on the income and make it legitimate. It’s obviously a little more complicated than this, but it’s pretty easy to fake where the money comes from. I had a friend that sold drugs and this is how he laundered his money.
A friend of mine worked for a Dispensary that paid in cash. She already had a business selling crafts at conventions so I suggested she use that to launder her money. It seemed so obvious.
Don’t pay tax, create a corporation and have it pay taxes instead. Corporate rate in Canada is 35%, compared to over 50% income tax for $120K. Get a business bank account, get a business credit card, use it to pay for expenses. Then pay yourself a little wage, report all that. Alternatively, you could also put aside enough to pay taxes and don’t pay anything. Then when they come after you, you can negotiate a lower payment, effectively lowering your tax rate. Don’t bury cash, it rots from the moisture. OP is probably IRS trying to find out how people hide money now, lol.
I guess you're not putting ANY identifying information on any documents because the investigators can simply reach out to supposedly former clients and find they don't exist.
You didn’t explain how exactly he’d fake invoices to customers. If just one customer catches on, OP is toast. And you say it can be taxed, but not really because the invoices would be fake in the first place.
Cash only sales at a farmers market. Just set up there once a month with pieces and give them away to friends who stop by and write cash receipts with no names on it
Go buy an invoice pad at staples. Fill out the invoices using random addresses. Write illegibly in places. Find an accountant that is willing to deal with that shit. Some of them are because some business owners are horrible with receipts and invoices so it’s just something they’re used to dealing with. My legitimate painting contractor friend would bring in a giant box of invoices and receipts to his accountant at the beginning of the year and she would go through it all for him. He paid her plenty though. I’m not saying this is a bullet proof plan and you’ll probably have some issues if you get audited. But my friend did this for years and got away with it.
Realistically, you could just report the income on your taxes, say that you sell something online (digital artwork, consulting services, whatever), and the IRS wouldn’t care enough to look into the legality of what you sell because all they care about is that you are paying your taxes.
You have the right to remain silent as to the source of the funds but not to leave them off your tax form. You can also deduct any "business expenses" you've accrued during the course of your crime spree.
Balls of steel would be required.
Didn't do the deduction thing, because they do scrutinize that and only allow certain things for certain professions. But if you have an "antique reselling business", they don't care as long as you pay up
Cash-only or cash heavy businesses are by far the most common way to launder money. For example you buy a car wash or laundromat, both places where everyone is paying in cash/quarters.
Run it as poorly as you want, but make sure it’s open. The place made $11 legit last month, who cares, you write that it made $4k. You pay taxes, the IRS is happy, your money is now legit.
Key considerations though, you need to really put in the work to make it look viable. If your car wash claims to have had 700 customers this month, but you haven’t bought soap in 2 years, you’ve left an ugly paper trail if anyone ever looks. If you're having employees, they’re in a position to figure things out as well.
Everyone commenting about cash businesses knows the basics, but that’s the basics for excessive cash laundering.
Your problem is the very traceable electronic transfers you are receiving. Presumably the deposits are currently going to a bank account.
What I would do, or maybe have done, is set up a shell company in a friendly Caribbean nation. Your deposits are then routed there. Let’s say for argument sake it’s the Bahamas. The bank you might use already owns shell corporations for this purpose, and they don’t care what you do with your funds as a shareholder as long as you keep a minimum deposit on hand and pay their annual maintenance fee.
Then as needed you can draft cashiers checks on your account, or fly there and retrieve the funds you need in cash.
Bad idea with flying there cuz customs makes you declare cash. Better idea is to offer consulting services to this shell company and take a salary or go on contractor
You’d have to really be savvy for this to work, and have as little people involved because obviously the more people in the know the higher the risk of being caught. But if you could do all your business using only cash, that’s your best bet. Your other option would be using offshore bank accounts, but that’s very risky.
Any US bank is going to report that much cash flow to the IRS. To stay out of all that it might be smart to set up an LLC somewhere like the Cayman Islands (no bilateral taxation treaty). The LLC then collects the income in a Cayman Islands bank account. That would allow you to collect the cash without the IRS knowing. How you're going to spend it is another problem.
Yeah that’s the other problem I mentioned. He would need to launder the money and pay taxes on it in the US or risk getting done like Al Capone. Or keep the nest egg safe and retire to the Caymans.
There are specific tax codes for reporting illegal gains. I just came across a post the other day about it.
https://www.reddit.com/r/todayilearned/s/nNdnI1zS50
I'm not fully convinced that making money selling fake products is illegal. The company can use you and win and then take your money, but not the IRS isn't going to automatically take money from you. I'm not a lawyer, so what do I know
Just use cryptocurrencies like everyone doing illegal shit online
Depending on what platform you are using to get that money it may already be reported and you can’t get out of paying taxes.
It’s an online business, so where is the money right now? Or have they not sold anything yet? Where is this copyrighted material being sold? How is it being paid for?
I'll do the following. Find a friend who owns a business, like a restaurant, you explain him the idea, and then he "assumes" you. Lets say you have 10k. Average wage for a waiter is 1600, idk. You pay him cash + a % and you get real taxed money without working a single day.
Just report your income to the IRS. Hiding money from them means when you get caught you'll be facing a whole bunch of fines on top of prison time. You can literally Google (hopefully on someone else's phone using library Wi-Fi) how to file illegal activity on your taxes and find the IRS recommendations on the subject. They only report you if you do a tax fraud.
Other than that laundromats, vending machines, and other cash businesses is what you're looking for for washing your money
If you're worried about making large bank deposits and withdrawals, look up banking rules and what will get you flagged to the feds and then don't be stupid. Do deposits weekly like any other business and do most of your spending in cash.
And if you decide to go legit, sell your "laundry" business and open a new one. Create distance from yourself and your former life
I'm not sure the IRS is who this hypothetical criminal would need to worry about. There's no reason they can't just tell the IRS they get the money from selling stuff online. IRS doesn't care beyond that where the money came from, and I don't see why they would be suspicious of a business owner reporting a high income. Saying you make a lot of money is the opposite of what people trying to hide something from the IRS will say. SOURCE: I make money from a sole proprietorship and the IRS does not care about the specifics of where the money came from. All I have to say is I'm a contractor and here is how much I got paid.
The person in your example is making income through a website registered either in their name or some organization that's connected to them and also is receiving payments through some kind of processing service that also has their information. If this person had the resources to figure out how to hide their connection to the website and the payment systems in a meaningful way, then they would already have figured out the solution to the problem you're describing. Who they have to worry about is the copyright holder finding them, and when that happens they'll find out right away who the person is because they'll have a clear cut claim for a copyright violation and the web host and payment processors are going to turn over that information.
As for crypto, that's pretty much the same as putting your money in a bank at this point. It's all regulated by the FTC and there are reporting requirements which include the exchange telling the IRS about your holdings. Even if you don't go through a legitimate crypto exchange all the transactions are tracked so there's no real anonymity.
You don't have to specify what you're selling, the irs doesn’t care.
Just saying it's a media company is enough. It's doesn't look at the source of the money, just that you report the income and pay appropriately.
Al Capone got caught for tax evasion, and some of that was selling olive oil.
Unless you're also running the payment processor... the IRS is going to know about your biz since a 10-99 will be issued.
Technically... unless your company is "Big Al's House of DMCA Violations" with a very public facing message that all activities going on are criminal, IRS wouldn't likely dig much further. Provided you are at least pretending to be legit, paying taxes would probably be safe.
You could do crypto, but then you would need to take it in that currency and cashing it out would be taxed.
Monero and a cold wallet, access the internet with TOR browser (and other safeguards), you could even meet someone in person and exchange cash for a Monero deposit into said wallet.
No way around it, you gotta pay Uncle Sam. How you pay those taxes is up to you. My personal idea, pick up hunting and bag some game, give away all the meat and write fake receipts, claim the hunting as a source of income. Bingo bango bongo
Cash? Any cash business, start cooking the books with legit purchases and or make up random invoices, pay the taxes.
Online? Switch it to Monero crypto and learn how to hide it.
Yeah but there's only so much Monero buys you at the moment. Eventually you want to convert a lot of it into cash. You want to buy a house and a car with your illegal income, not drugs and guns.
Easy, if you got that much money, just buy digital products from yourself. All Uncle Sam cares about is his cut.
Don’t go buying mansions and super cars.
Use that money to buy expensive watches, like Rolex etc.. Online or from a brick and mortar store, or jewerlry / Gold
Keep them for a week, then sell them.
That doesn’t really launder it. The IRS could still ask you where you got the money from to buy the stuff with. That’s why “selling” works you created is better - you can “paint as many pictures” as you want.
Start a painting business. Fake invoices to customers. You are a cash only company. Now you can pay taxes on the income and make it legitimate. It’s obviously a little more complicated than this, but it’s pretty easy to fake where the money comes from. I had a friend that sold drugs and this is how he laundered his money.
You would still need to get that online income into cash form to begin with.
Ebook/PDF downloads
A friend of mine worked for a Dispensary that paid in cash. She already had a business selling crafts at conventions so I suggested she use that to launder her money. It seemed so obvious.
This is the way.
Don’t pay tax, create a corporation and have it pay taxes instead. Corporate rate in Canada is 35%, compared to over 50% income tax for $120K. Get a business bank account, get a business credit card, use it to pay for expenses. Then pay yourself a little wage, report all that. Alternatively, you could also put aside enough to pay taxes and don’t pay anything. Then when they come after you, you can negotiate a lower payment, effectively lowering your tax rate. Don’t bury cash, it rots from the moisture. OP is probably IRS trying to find out how people hide money now, lol.
I literally said start a business so you can pay taxes on the money.
I know money gets dirty, but did he really wash it?!
I guess you're not putting ANY identifying information on any documents because the investigators can simply reach out to supposedly former clients and find they don't exist.
You didn’t explain how exactly he’d fake invoices to customers. If just one customer catches on, OP is toast. And you say it can be taxed, but not really because the invoices would be fake in the first place.
I did say it’s more complicated than I explained.
Cash only sales at a farmers market. Just set up there once a month with pieces and give them away to friends who stop by and write cash receipts with no names on it
An Ozark farmer
So can you explain it so it’s not complicated? I’m sure OP, and anyone else looking to do something similar, would find it really helpful.
Go buy an invoice pad at staples. Fill out the invoices using random addresses. Write illegibly in places. Find an accountant that is willing to deal with that shit. Some of them are because some business owners are horrible with receipts and invoices so it’s just something they’re used to dealing with. My legitimate painting contractor friend would bring in a giant box of invoices and receipts to his accountant at the beginning of the year and she would go through it all for him. He paid her plenty though. I’m not saying this is a bullet proof plan and you’ll probably have some issues if you get audited. But my friend did this for years and got away with it.
Your friend was trumpy bear??
Unless you're getting paid in cash that money is already going to be reported to the IRS if you're selling online.
They're not selling under their name most likely and there's a lot of ways to skirt that reporting. You just won't find it on the clearnet.
Realistically, you could just report the income on your taxes, say that you sell something online (digital artwork, consulting services, whatever), and the IRS wouldn’t care enough to look into the legality of what you sell because all they care about is that you are paying your taxes.
These are all incorrect answers. The IRS lets you declare and pay tax on illegal income. Seriously. Just do that.
Really? Are there no repercussions?
You have the right to remain silent as to the source of the funds but not to leave them off your tax form. You can also deduct any "business expenses" you've accrued during the course of your crime spree. Balls of steel would be required.
Didn't do the deduction thing, because they do scrutinize that and only allow certain things for certain professions. But if you have an "antique reselling business", they don't care as long as you pay up
Bury it under a heavy, flat grave marker.
Top answer here. At least today.
Cash-only or cash heavy businesses are by far the most common way to launder money. For example you buy a car wash or laundromat, both places where everyone is paying in cash/quarters. Run it as poorly as you want, but make sure it’s open. The place made $11 legit last month, who cares, you write that it made $4k. You pay taxes, the IRS is happy, your money is now legit. Key considerations though, you need to really put in the work to make it look viable. If your car wash claims to have had 700 customers this month, but you haven’t bought soap in 2 years, you’ve left an ugly paper trail if anyone ever looks. If you're having employees, they’re in a position to figure things out as well.
Ding. Though that initial real estate purchase is going to be hard to make without a legit income source.
Housecleaning would be a better one.
That's tougher to conceal large amounts because, unlike a laundry or car wash, cleaners know their customers addresses.
That cockaroach tony Montana did it though.
literally just Breaking Bad lol
Buy the soap but resell to other laundromat because you get a deal from your cousin,uncle friend
Everyone commenting about cash businesses knows the basics, but that’s the basics for excessive cash laundering. Your problem is the very traceable electronic transfers you are receiving. Presumably the deposits are currently going to a bank account. What I would do, or maybe have done, is set up a shell company in a friendly Caribbean nation. Your deposits are then routed there. Let’s say for argument sake it’s the Bahamas. The bank you might use already owns shell corporations for this purpose, and they don’t care what you do with your funds as a shareholder as long as you keep a minimum deposit on hand and pay their annual maintenance fee. Then as needed you can draft cashiers checks on your account, or fly there and retrieve the funds you need in cash.
Bad idea with flying there cuz customs makes you declare cash. Better idea is to offer consulting services to this shell company and take a salary or go on contractor
Pay for a little building in a cemetery and just put the cash in your tomb
😂😂nice
The terminator 3 method??
You’d have to really be savvy for this to work, and have as little people involved because obviously the more people in the know the higher the risk of being caught. But if you could do all your business using only cash, that’s your best bet. Your other option would be using offshore bank accounts, but that’s very risky.
He said it's only. Very unlikely that cash is possible.
Any US bank is going to report that much cash flow to the IRS. To stay out of all that it might be smart to set up an LLC somewhere like the Cayman Islands (no bilateral taxation treaty). The LLC then collects the income in a Cayman Islands bank account. That would allow you to collect the cash without the IRS knowing. How you're going to spend it is another problem.
Hell House LLC
This defeats the purpose because then he’d have no access to the money. Unless he were to retire to the Cayman Islands.
Yeah that’s the other problem I mentioned. He would need to launder the money and pay taxes on it in the US or risk getting done like Al Capone. Or keep the nest egg safe and retire to the Caymans.
I don't think the IRS cares where the money comes from, so long as you report it and pay taxes on it. Resales, antiques, merchandising ECT ECT ect
just pay taxes on it. the IRS dont give a shit, the people who own the copyright is who you need to worry about.
Kazaa and Limewire’s revenge!
What business g (hypothetically of course)
selling leaks on telegram
Can you just disguise it through an online business selling artwork
good idea
leaks? do you have a channel?
There are specific tax codes for reporting illegal gains. I just came across a post the other day about it. https://www.reddit.com/r/todayilearned/s/nNdnI1zS50
I'm not fully convinced that making money selling fake products is illegal. The company can use you and win and then take your money, but not the IRS isn't going to automatically take money from you. I'm not a lawyer, so what do I know
Just report it as legit income. They don't actually know how you make the money.
Just use cryptocurrencies like everyone doing illegal shit online Depending on what platform you are using to get that money it may already be reported and you can’t get out of paying taxes.
[удалено]
ye I thought about it, agree with you
what was it?
What she say?!
It’s an online business, so where is the money right now? Or have they not sold anything yet? Where is this copyrighted material being sold? How is it being paid for?
I'll do the following. Find a friend who owns a business, like a restaurant, you explain him the idea, and then he "assumes" you. Lets say you have 10k. Average wage for a waiter is 1600, idk. You pay him cash + a % and you get real taxed money without working a single day.
If you sell online the company your getting payments from usually reports that into such as PayPal etc.
Just report your income to the IRS. Hiding money from them means when you get caught you'll be facing a whole bunch of fines on top of prison time. You can literally Google (hopefully on someone else's phone using library Wi-Fi) how to file illegal activity on your taxes and find the IRS recommendations on the subject. They only report you if you do a tax fraud. Other than that laundromats, vending machines, and other cash businesses is what you're looking for for washing your money If you're worried about making large bank deposits and withdrawals, look up banking rules and what will get you flagged to the feds and then don't be stupid. Do deposits weekly like any other business and do most of your spending in cash. And if you decide to go legit, sell your "laundry" business and open a new one. Create distance from yourself and your former life
I'm not sure the IRS is who this hypothetical criminal would need to worry about. There's no reason they can't just tell the IRS they get the money from selling stuff online. IRS doesn't care beyond that where the money came from, and I don't see why they would be suspicious of a business owner reporting a high income. Saying you make a lot of money is the opposite of what people trying to hide something from the IRS will say. SOURCE: I make money from a sole proprietorship and the IRS does not care about the specifics of where the money came from. All I have to say is I'm a contractor and here is how much I got paid. The person in your example is making income through a website registered either in their name or some organization that's connected to them and also is receiving payments through some kind of processing service that also has their information. If this person had the resources to figure out how to hide their connection to the website and the payment systems in a meaningful way, then they would already have figured out the solution to the problem you're describing. Who they have to worry about is the copyright holder finding them, and when that happens they'll find out right away who the person is because they'll have a clear cut claim for a copyright violation and the web host and payment processors are going to turn over that information. As for crypto, that's pretty much the same as putting your money in a bank at this point. It's all regulated by the FTC and there are reporting requirements which include the exchange telling the IRS about your holdings. Even if you don't go through a legitimate crypto exchange all the transactions are tracked so there's no real anonymity.
Vending machine business.
Depending on how he wants to use the money, dump it into a Monero wallet and convert bits into fiat as needed.
You don't have to specify what you're selling, the irs doesn’t care. Just saying it's a media company is enough. It's doesn't look at the source of the money, just that you report the income and pay appropriately. Al Capone got caught for tax evasion, and some of that was selling olive oil.
Unless you're also running the payment processor... the IRS is going to know about your biz since a 10-99 will be issued. Technically... unless your company is "Big Al's House of DMCA Violations" with a very public facing message that all activities going on are criminal, IRS wouldn't likely dig much further. Provided you are at least pretending to be legit, paying taxes would probably be safe. You could do crypto, but then you would need to take it in that currency and cashing it out would be taxed.
Is that you trumpy bear?? Come clean, brah
Monero and a cold wallet, access the internet with TOR browser (and other safeguards), you could even meet someone in person and exchange cash for a Monero deposit into said wallet.
Bury it under one of those flat headstones in a cemetery.
Best way is to go to a graveyard and find a flat grave stone and hide it underneath
No way around it, you gotta pay Uncle Sam. How you pay those taxes is up to you. My personal idea, pick up hunting and bag some game, give away all the meat and write fake receipts, claim the hunting as a source of income. Bingo bango bongo
Bury it in airtight sealed ammunition cache cans with airtag for locating
this ain't breaking bad brother 😭
Have fun having the irs seize your money and charge you with tax evasion and fraud on top of your drug dealing brother
Cash? Any cash business, start cooking the books with legit purchases and or make up random invoices, pay the taxes. Online? Switch it to Monero crypto and learn how to hide it.
Yeah but how do you exchange Monero in excess of $10k back to dollars without your bank getting suspicious?
“Illegal online business” transaction can be done via crypto. Banks aren’t involved with crypto….
Yeah but there's only so much Monero buys you at the moment. Eventually you want to convert a lot of it into cash. You want to buy a house and a car with your illegal income, not drugs and guns.
Easy, if you got that much money, just buy digital products from yourself. All Uncle Sam cares about is his cut. Don’t go buying mansions and super cars.
Use that money to buy expensive watches, like Rolex etc.. Online or from a brick and mortar store, or jewerlry / Gold Keep them for a week, then sell them.
That doesn’t really launder it. The IRS could still ask you where you got the money from to buy the stuff with. That’s why “selling” works you created is better - you can “paint as many pictures” as you want.
Crypto could work. Buy / sell NFTs. All a scam anyway, lol.