That Time of the Year

[China Willy]

So now that the year is over and April 15 is fast approaching, I have a question for those on this forum for those who play the 15-30 at Party:

What do you do with your money?

Now that they have stopped paying interest, it seems silly to keep more than is required in there, but it also seems risky to transfer, say, $10K to my checking account. Red flag city. What do people do with their online cash?

(Especially interested in responses that do not question my ethics/contain a single sentence like "report every dime and bend over.")

-CW

[Hojglad]

[ QUOTE ]
but it also seems risky to transfer, say, $10K to my checking account

[/ QUOTE ]
Why not make it 10 deposits of 1k each? Space them out over time. That shouldn't set off any red flags. If you don't want to report your income, open an account with a bank that will not cooperate with the IRS in the event that you are audited. I'm not sure if such institutions exist, but if they do, that's the way to go.

[GuyOnTilt]

The safest way to do this is to pay taxes. I'm not condemning you ethically, it's just the risk versus reward is pretty high. If you don't like the current tax system, vote for change.

GoT

[esspo]

Pay your taxes and you don't have to worry about red flags.

[steveyz]

I usually try to keep only 5k in my account and withdraw 5k when I hit 10k. Sometimes I have to redeposit some money if I hit a bad run but in general it works for me.

I'm planning to reporting my earnings as accurately as I can. Bending over now is better than bending over in federal prison, as I'm sure that Survivor guy will learn. I'm amazed that how much stupidity there is out there when some guy who is all over television and wins a million dollars thinks they can hide it from the IRS.

[mike l.]

"Bending over now is better than bending over in federal prison, as I'm sure that Survivor guy will learn."

dude it's the gay guy, he's looking forward to it.