[Cid_Yama]

Suspicious of the soundness of the banking system, I requested to withdraw a substantial sum from our Key Bank account, leaving funds sufficient to cover ongoing business operations. First they tried to dissuade me, then they stonewalled me, and finally they turned openly hostile. I was forced to sign a series of documents, including one acknowledging that since I was carrying a large sum I could be the target of a robbery. To enhance that possibility, the teller slammed down the bag of cash on the counter and publicly announced the sum.

Despite repeated requests in the days preceding my withdrawal to get the cash in hundreds, they gave it to me in twenties, making for a bag five times the size and more robber-friendly. When I complained to the bank manager who had processed the request, the response amounted to "take it or leave it." This will not be an isolated event. If you attempt to withdraw a large chunk of money from your account, negotiate the details in advance and anticipate possible hassle and obstruction.

link

[AAA]

That is why it is important to know your banker on a personal level and NEVER EVER withdraw a large amount at once. Do it over the course of several weeks or even daily at local atm machines. That way nobody, not even the bank teller, knows how much money you are carrying around.

[Jotapay]

Be smart about how you withdraw money. And make sure it gets withdrawn this year, IMO.

[timmac]

Removing large amounts of cash in 1 day does send up red flags to the ATF and DEA, banks do report this, they have to, it is always better to do smaller amounts over time, banks are not shutting down anytime soon so you do have plenty of time, let the over reacted ones remove large amounts and the GOV will focus on them and you will not be noticed withdrawing small/medium amounts over a few months..

Same goes for stock piling large amount of ammo and guns in a short time, do it slowly and a little at a time, they are watching, don't use credit card when buying ammo for stock piling...

Be wise about getting ready for when and if SHTF..

[vision-master]

Come on, my Mother cashed in $40,000 of CD's for us kids ( there are a few of us) last year. We called the bank to order the cash in ($100's). No problemo.

[Ludi]

Come on, my Mother cashed in $40,000 of CD's for us kids ( there are a few of us) last year. We called the bank to order the cash in ($100's). No problemo.

It's just no fun if you can't run around in a panic, fight with the bank tellers, or otherwise cause a lot of drama.

[vision-master]

Come on, my Mother cashed in $40,000 of CD's for us kids ( there are a few of us) last year. We called the bank to order the cash in ($100's). No problemo.

It's just no fun if you can't run around in a panic, fight with the bank tellers, or otherwise cause a lot of drama.

I'm still waiting for empty food shelves? Ok, Cub didn't have any whole all spice today.

[timmac]

Come on, my Mother cashed in $40,000 of CD's for us kids ( there are a few of us) last year. We called the bank to order the cash in ($100's). No problemo.

It's just no fun if you can't run around in a panic, fight with the bank tellers, or otherwise cause a lot of drama.

I'm still waiting for empty food shelves? Ok, Cub didn't have any whole all spice today.

Yes there was no problem, they have to give it to you in all cash if you want, but its not a good idea lately, and yes they do report large amounts of cash $10,000 and over to the fed in withdrawing out for a private person, don't believe me go asked a friend in the banking business or go to a new car dealer and buy a car for over $10,000 in cash or go to the airport with over $5000 in cash and see what happens.

At our local car dealers they have posted that they have to report to FBI any one buying a car with over $10,000 in cash.

Check it out and be suprized, they are watching, however thanks for your mother to ask for $40,000 in cash now they are looking your way and not mine, Not to say anything will happen but its best to be under the radar than on it..

[vision-master]

Come on, my Mother cashed in $40,000 of CD's for us kids ( there are a few of us) last year. We called the bank to order the cash in ($100's). No problemo.

It's just no fun if you can't run around in a panic, fight with the bank tellers, or otherwise cause a lot of drama.

I'm still waiting for empty food shelves? Ok, Cub didn't have any whole all spice today.

Yes there was no problem, they have to give it to you in all cash if you want, but its not a good idea lately, and yes they do report large amounts of cash $10,000 and over to the fed in withdrawing out for a private person, don't believe me go asked a friend in the banking business or go to a new car dealer and buy a car for over $10,000 in cash or go to the airport with over $5000 in cash and see what happens.

At our local car dealers they have posted that they have to report to FBI any one buying a car with over $10,00 in cash.

Check it out and be suprized, they are watching, however thanks for your mother to ask for $40,000 in cash now they are looking your way and not mine, Not to say anything will happen but its best to be under the radar than on it..

Charitable gifts under $10,000 per year - no tax required.

[AAA]

Charitable gifts under $10,000 per year - no tax required.

For 2009 the IRS raised the limit to $13,000 Tell family members to give because if they dont you will be paying estate taxes if there estate is of any size.

[vision-master]

Charitable gifts under $10,000 per year - no tax required.

For 2009 the IRS raised the limit to $13,000 Tell family members to give because if they dont you will be paying estate taxes if there estate is of any size.

[Schmuto]

Charitable gifts under $10,000 per year - no tax required.

For 2009 the IRS raised the limit to $13,000 Tell family members to give because if they dont you will be paying estate taxes if there estate is of any size.

"of any size."

Do you have any idea what the lifetime exclusion is?

It's currently 3.5 million. I'd wager that nobody who reads this thread has to worry about either estate or gift taxes.

Remember - Gift taxes are paid by the giver, not the receiver, and you can give more than 13k, it just applies to your lifetime exclusion total.

Of course, now that we're going socialist/fascist, the laws will soon be changed . . .

[Ludi]

Of course, now that we're going socialist/fascist, the laws will soon be changed . . .

[Armageddon]

Charitable gifts under $10,000 per year - no tax required.

For 2009 the IRS raised the limit to $13,000 Tell family members to give because if they dont you will be paying estate taxes if there estate is of any size.

"of any size."

Do you have any idea what the lifetime exclusion is?

It's currently 3.5 million. I'd wager that nobody who reads this thread has to worry about either estate or gift taxes.

Remember - Gift taxes are paid by the giver, not the receiver, and you can give more than 13k, it just applies to your lifetime exclusion total.

Of course, now that we're going socialist/fascist, the laws will soon be changed . . .

I'd wager that nobody who reads this thread has to worry about either estate or gift taxes.

======================================================================


Strike one. In-laws take full advantage of the tax laws.

[Cid_Yama]

I'd wager that nobody who reads this thread has to worry about either estate or gift taxes.

You would lose. There are many of us here who fall under those tax laws.

Contrary to popular opinion, all of us are not Republicans.(Although my father was just right of Hitler, sitting on the right hand of Joseph McCarthy. And no, my real name is not Ron.)

[frankthetank]

Vision-

Cubs sucks! Go to a Woodmans some time...

[vision-master]

Vision-

Cubs sucks! Go to a Woodmans some time...

It's close for items I need quick. I go to Aldi..........

[alokin]

If some of you tell to take out money now, than do you mean this applies only to the US or as well in Australia? I mean things have worsened but did they not worsen the last month all the time? However I got a fair bit nervous with the new announcement of more than a billion$ dumped into the system last week.

If you don't have that much money I think the best idea is to spend it simply. And each time on the checkout you get some cash as well. We spend much more at the moment and try to anticipate spendings and I stock up more food and buy small things you need all the time like rope, nails etc, like thins you even do not go to the bank.

As far as I know it was always like that and years ago you even had to phone before you could withdrawl big sums because not many banks have that big sums laying around.

[mattduke]

Here is an interesting discussion on using cash to undermine the banksters.

link

[AAA]

Do you have any idea what the lifetime exclusion is?

Yes. However how long do think it will remain that high. I am betting the Dems begin to rethink the estate taxes.

It's currently 3.5 million. I'd wager that nobody who reads this thread has to worry about either estate or gift taxes.

I think you would be surprised. Remember, $3.5 million isn't what it used to be. You can't even buy a medium-size ranch out West for that amount.

Remember - Gift taxes are paid by the giver, not the receiver, and you can give more than 13k, it just applies to your lifetime exclusion total.

Yes but the more the donor pays in taxes the less received in the estate.

Of course, now that we're going socialist/fascist, the laws will soon be changed . . .

Agree 100%