Blowout Cards Forums
Summer Sale

Go Back   Blowout Cards Forums > GENERAL INFORMATION AREA > News & Announcements

News & Announcements Case Deals! and General Info about the Hobby

Reply
 
LinkBack Thread Tools Display Modes
Old 08-28-2008, 04:10 PM   #26 (permalink)
Member
 
Dobber2330's Avatar
 
Join Date: Jul 2007
Location: Oswego, IL
Posts: 2,405
Default

1934 US $500 Federal Reserve Note VF/XF - eBay (item 290252773281 end time Aug-19-08 18:15:00 PDT)
Dobber2330 is offline   Reply With Quote
Old 08-28-2008, 05:21 PM   #27 (permalink)
Member
 
csun22's Avatar
 
Join Date: Oct 2007
Posts: 1,214
Default

Quote:
Originally Posted by Zerokruel View Post
I don't know how other states work, but you don't have to report as long as it's $9999 and under.
Actually anything over $600 is supposed to be reported as far as I know. I know if there is a cash transaction of $10k or more, that is supposed to be reported.
csun22 is offline   Reply With Quote
Old 08-28-2008, 06:07 PM   #28 (permalink)
Hail to the Victors!
 
otmack2o's Avatar
 
Join Date: Jul 2007
Location: MI
Posts: 6,031
Default

The $10,000 rule is regarding cash gifts I believe, correct?
__________________
AARDVARKS!
otmack2o is offline   Reply With Quote
Old 08-28-2008, 06:22 PM   #29 (permalink)
Member
 
newengland4me's Avatar
 
Join Date: Jul 2007
Location: 20 miles west of Boston,Ma
Posts: 1,137
Default

Quote:
Originally Posted by otmack2o View Post
The $10,000 rule is regarding cash gifts I believe, correct?
Then it will be a cash gift to ME After I set up a Incorporated family business. lolololo
__________________
Looking for Andrew Luck,RG3 and RUSSELL WILSON
newengland4me is offline   Reply With Quote
Old 08-28-2008, 06:36 PM   #30 (permalink)
Member
 
guru's Avatar
 
Join Date: Jul 2007
Location: Central, KY
Posts: 15,756
Default

Looking at these ebay links got me thinking...

I have an old 1934 $100 bill. I might try to sell it on ebay!
__________________
Follow me on Twitter - @ebayguruEric

Now Collecting: Ken Griffey Jr. & Kevin Garnett
guru is offline   Reply With Quote
Old 08-28-2008, 07:55 PM   #31 (permalink)
Member
 
csun22's Avatar
 
Join Date: Oct 2007
Posts: 1,214
Default

Quote:
Originally Posted by otmack2o View Post
The $10,000 rule is regarding cash gifts I believe, correct?
I'm pretty sure it has to do with any type of cash transaction. I think it has something to do with a money laundering concern which is why it has to be reported.

I know with the California lottery, any winnings of $599 and under can be collected at a retailer, but $600+ needs to be claimed via the lottery office.
csun22 is offline   Reply With Quote
Old 08-28-2008, 08:23 PM   #32 (permalink)
Member
 
Zerokruel's Avatar
 
Join Date: Apr 2008
Posts: 6,477
Default

I think you guys are right. I mixed it up.
__________________
Currently looking for the following comic Books:
United Comics: 21,22,23,24,26
Tip Top: 173 & 184
Peanuts 1 (1953)
Peanuts: 1-4 (1963-64)
Zerokruel is offline   Reply With Quote
Old 08-28-2008, 08:36 PM   #33 (permalink)
Member
 
Bigblue's Avatar
 
Join Date: Jul 2008
Location: E. Bernstadt, Ky
Posts: 1,193
Default

Hmmm? A card with a thousand dollar bill in it...I wonder what it would fetch on EBAY these days $550??
__________________
COMC ---www.checkoutmycards.com/Users/ShortStop_Cards

Collecting Brandon Phillips, Barry Larkin and Jesse Winker
Bigblue is offline   Reply With Quote
Old 08-28-2008, 10:01 PM   #34 (permalink)
Member
 
Join Date: Aug 2007
Location: Frisco, TX
Posts: 1,200
Default

Quote:
Originally Posted by hockeyjunkie99 View Post
WTF!!!....She wouldn't tell me because she can't. There is an amount but she won't tell me what it is. That $*%!.

She said if people knew what the amount was that they would do "structured deposits" which is illegal and that would make you look suspicious. You have to fill out forms if you deposit over a certain amount of money and it would include all your information. Just because its a certain aomunt of money though doesn't necessarilly mean that that is the cap.
Get a new girlfriend ASAP! It's not a secret for anybody who works at a bank. EVERYBODY who works at a retail branch (and most others associated with a financial institution in ANY capacity) know it. For her to tell you she can't tell you - she must be trying to convince you her job is much more important or critical than what it really is...

The limit is $10,000 for mandatory completion of the suspicious activity report. Any other transaction deemed necessary SHOULD also be reported on the same report - e.g., multiple deposits of large amounts less than $10,000....like several $7,000 deposits.

Also, this HAS ABSOLUTELY NOTHING TO DO WITH REPORTING OF INCOME OR PAYING INCOME TAXES. So what if you collect cash over a course of time and deposit $6,000 in the bank? Or $15,000?

The requirements are based on anti-money laundering rules...which have obviously become much more important and stringent since 9-11.

My guess is that if you get a "money card", you'll have no idea whether or not it is $20 or $1,000.

Also, I'm sure if any of you have ever gone to the horse races or bet in Vegas - anything over a certain amount ($600 here in Texas) results in a W-2, while anything else is paid in cash with no reporting to the government. We were in Vegas in 2006 during the Preakness and I boxed all the horses for a $2 trifecta (the race when Barbaro broke down). The payout was just under $4,000 (ticket did cost $1,008) but we got a W-2 for income along with the cash...in $100 bills for the most part.
thekramers5 is offline   Reply With Quote
Old 08-28-2008, 10:37 PM   #35 (permalink)
Member
 
hockeyjunkie99's Avatar
 
Join Date: Oct 2007
Location: Tampa Bay Area, FL
Posts: 11,201
Default

Quote:
Originally Posted by thekramers5 View Post
Get a new girlfriend ASAP! It's not a secret for anybody who works at a bank. EVERYBODY who works at a retail branch (and most others associated with a financial institution in ANY capacity) know it. For her to tell you she can't tell you - she must be trying to convince you her job is much more important or critical than what it really is...

The limit is $10,000 for mandatory completion of the suspicious activity report. Any other transaction deemed necessary SHOULD also be reported on the same report - e.g., multiple deposits of large amounts less than $10,000....like several $7,000 deposits.

Also, this HAS ABSOLUTELY NOTHING TO DO WITH REPORTING OF INCOME OR PAYING INCOME TAXES. So what if you collect cash over a course of time and deposit $6,000 in the bank? Or $15,000?

The requirements are based on anti-money laundering rules...which have obviously become much more important and stringent since 9-11.

My guess is that if you get a "money card", you'll have no idea whether or not it is $20 or $1,000.

Also, I'm sure if any of you have ever gone to the horse races or bet in Vegas - anything over a certain amount ($600 here in Texas) results in a W-2, while anything else is paid in cash with no reporting to the government. We were in Vegas in 2006 during the Preakness and I boxed all the horses for a $2 trifecta (the race when Barbaro broke down). The payout was just under $4,000 (ticket did cost $1,008) but we got a W-2 for income along with the cash...in $100 bills for the most part.
The form is a W-2G
__________________
-NICK

checkoutmycards.com/Users/hockeyjunkie99
hockeyjunkie99 is offline   Reply With Quote
Old 08-28-2008, 10:46 PM   #36 (permalink)
Member
 
Join Date: Jul 2007
Posts: 710
Default

hmmm...I wonder if topps will get any underage gambling lawsuits...or will they go the rout that they deliver the 5 or so cards guaranteed per pack, so you know what you're getting.

This makes it official that sports cards are reduced to gambling.
Cutty is offline   Reply With Quote
Old 08-28-2008, 11:15 PM   #37 (permalink)
Member
 
keggobelly's Avatar
 
Join Date: Oct 2007
Location: Mississippi
Posts: 1,368
Default

Who is planning on buying this product.
__________________
I collect all UGA Dawgs in college uniforms, Stafford(All), Massaquoi, David Pollack and Knowshon
-Soon to be AJ Green Super Collector

RIP PAPAJIM
keggobelly is offline   Reply With Quote
Old 08-29-2008, 07:40 AM   #38 (permalink)
Member
 
Join Date: Aug 2007
Location: Frisco, TX
Posts: 1,200
Default

Quote:
Originally Posted by hockeyjunkie99 View Post
The form is a W-2G
Yes...HJ, I was quite aware of that. Fortunately, I've received a few in my day.

Not to mention, as a CPA, I've seen a few that are not mine as well.
thekramers5 is offline   Reply With Quote
Reply

Bookmarks

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -4. The time now is 12:09 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
Search Engine Friendly URLs by vBSEO
Copyright 2013, Blowout Cards Inc.