Starting a business with dirty mulah
- Thread starter Brizzy
- Start date
thanks to sarbanes oxley you cant
northstar22
Member
easy you start a small start up self sufficient company like a mobile car audio or mobile car detail business for example.. then you pay yourself for bids that never happend pay a little tax on the money and after a while its clean money then you get your loan from the bank or at least you have some way of showing you made money...
northstar22
Member
you need to clean up the dirty money so they didnt know it was ever obtained dirty
The IRS only cares that you paid taxes on your earnings, not where that money came from.
Call your self a life coach. Declare your earnings on a schedule SE. Get fucked on self employment taxes on top of income taxes. Now you're legit.
The problem isn't how can you launder money through a business, it's how can you launder money through a business without getting fucked in the ass by taxes, unless you're someone who likes taking taxes up the ass.
So instead, you consider the clones you bought to be an investment. You paid $240 for them. Now you vege them for 9 months and bud for 3.5 months. You have now had your clones for over a year and when you sell/harvest them the will be subject to long term capital gains rates instead of short term, or self employment. For most people this will be 10-15%, less tax then you would pay for being self employed.
The moral of the story is working for a living is bad. You should get your income in the form of rents, royalties, dividends, long term capital gains etc., unless you hope to become president some day.
Or you could just pay cash for everything and spend any excess on cocaine, gold or hookers.
Call your self a life coach. Declare your earnings on a schedule SE. Get fucked on self employment taxes on top of income taxes. Now you're legit.
The problem isn't how can you launder money through a business, it's how can you launder money through a business without getting fucked in the ass by taxes, unless you're someone who likes taking taxes up the ass.
So instead, you consider the clones you bought to be an investment. You paid $240 for them. Now you vege them for 9 months and bud for 3.5 months. You have now had your clones for over a year and when you sell/harvest them the will be subject to long term capital gains rates instead of short term, or self employment. For most people this will be 10-15%, less tax then you would pay for being self employed.
The moral of the story is working for a living is bad. You should get your income in the form of rents, royalties, dividends, long term capital gains etc., unless you hope to become president some day.
Or you could just pay cash for everything and spend any excess on cocaine, gold or hookers.
themanwiththeplan
Well-Known Member
matters how fast you wanna wash that money.
if slow and steady is sufficient pay cash whenever possible.
you can apply for a loan after you build up credit. best way: sign up for a credit card with a ridiculous rate and charge all your expenses for a month and pay them off before you get charged interest. keep repeating it over and over and you'll establish some credit to get said bank loan that you can pay off with the dirty $.
if slow and steady is sufficient pay cash whenever possible.
you can apply for a loan after you build up credit. best way: sign up for a credit card with a ridiculous rate and charge all your expenses for a month and pay them off before you get charged interest. keep repeating it over and over and you'll establish some credit to get said bank loan that you can pay off with the dirty $.
racerboy71
bud bootlegger
actually if you want to build up credit, paying your cc bill off at the end of each billing month is not the way to do so.. it's better to carry some credit each month for about 5 or 6 months, then pay the entire thing off and start again..
themanwiththeplan
Well-Known Member
oh. well excuse my mistake. lol
guy incognito
Well-Known Member
I disagree with this. I think it is a common misconception that you must carry a balance to get good credit. You don't. I have never carried a balance on any credit card i've ever had. I pay it in full every month. My credit score is somewhere in the 800's. The cc companies keep upping my credit limit too. I could potentially go ring up $40,000 on the credit cards I have because they have raised my limits so much.
Mr. Diamond
Member
Loan sharks are actually legal in most states. They just have to follow the same rules a bank does and charge interest. I'm sure there's a shark swimming around with a few extra bucks to throw your way. If you don't have credit or proof of income ... you always have kneecaps to invest. lol
Mr. Diamond
I love Seeds!
Mr. Diamond
I love Seeds!
hair of the dog
Member
To clean some cash, start small and start now.
The idea that one can 'wash' a six figure roll quickly is a pitfall to avoid. No matter how well you cover it, people get suspicous and jealous when a young guy has more money banked than they do. That goes especially for bankers. If you go to get a loan and you have more banked than the loan officer, they get suspicous and they start to ask questions and they dig, then your screwed. No matter how well you think you cover your tracks, if you do too much too fast you will leave a tell or two that someone more financially experienced will see. Then they tell the cops, and that makes you a sad panda. On the other hand, if they dig and find you've fixed up and flipped a half a dozen houses over the last five years, or built up then sold a cab company over a decade, well then, you are just the guy who's ass they want to kiss.
I agree 100% with the posts that say do a little at a time. Do a little, and do it right away. Then...do some more.
Work toward banking a realistic amount on a regular basis. Read all the money management books you can. They are full of 'bright ideas' that seem like they'd all work a lot better if you had a roll of cash under your mattress. Wait a minute......you do. Good. Read up and figure out how to apply the knowledge to building your business.
Get a retail sales permit and a tax number. Start a business. Even if that's just weekend flea marketing. I'm not saying that you can declare it all as sales that didn't happen (that would be illegal and obvious. don't do that) Running a little business will show you how it works, and lay the foundation for running something more.
Start small, start now.
The idea that one can 'wash' a six figure roll quickly is a pitfall to avoid. No matter how well you cover it, people get suspicous and jealous when a young guy has more money banked than they do. That goes especially for bankers. If you go to get a loan and you have more banked than the loan officer, they get suspicous and they start to ask questions and they dig, then your screwed. No matter how well you think you cover your tracks, if you do too much too fast you will leave a tell or two that someone more financially experienced will see. Then they tell the cops, and that makes you a sad panda. On the other hand, if they dig and find you've fixed up and flipped a half a dozen houses over the last five years, or built up then sold a cab company over a decade, well then, you are just the guy who's ass they want to kiss.
I agree 100% with the posts that say do a little at a time. Do a little, and do it right away. Then...do some more.
Work toward banking a realistic amount on a regular basis. Read all the money management books you can. They are full of 'bright ideas' that seem like they'd all work a lot better if you had a roll of cash under your mattress. Wait a minute......you do. Good. Read up and figure out how to apply the knowledge to building your business.
Get a retail sales permit and a tax number. Start a business. Even if that's just weekend flea marketing. I'm not saying that you can declare it all as sales that didn't happen (that would be illegal and obvious. don't do that) Running a little business will show you how it works, and lay the foundation for running something more.
Start small, start now.
BlissCannabis
Member
Ok, so now that I know what to do about the dirty mulah... can someone explain how I make the dirty mulah in the first place? 
BBbubblegum
Well-Known Member
You've been watching too much Breaking Bad. Money laundering is a horrible idea.
Brizzy
Active Member
never seen the show. I wouldnt say its a horrible idea...more like a risky idea. you know, like growing weed
its easy for some but hard for alot.
meaning if your an idiot you cant do it sucessfully.
if your smart get your credit score to the highest you can in a year or 2 then get a loan from a bank and have a business plan for them when you go to
borrow the money.
simple as that.
my friend got a 25k loan for a body shop with only credit score and a motorcycle as collateral. thats it and he was only 23.
meaning if your an idiot you cant do it sucessfully.
if your smart get your credit score to the highest you can in a year or 2 then get a loan from a bank and have a business plan for them when you go to
borrow the money.
simple as that.
my friend got a 25k loan for a body shop with only credit score and a motorcycle as collateral. thats it and he was only 23.
Prosmokerbutagrowjoker
Member
Its easy, get your gamblers lisence as a bookmaker, and no one can proove how much you win or you loose, put it through the books and all money is accounted for, yer you get taxed, but when they ask where the moneys come from you have proof and you can make alot of money bookmaking to simple.