Darwin
First Time Poster
Cash: $ 0.25
Posts: 1
Joined: 25 Dec 2005
Location: KCMO USA
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Hi everyone.
I just joined today after searching for a good forum that might be able to help me with how to move money around online and tax planning.
I make personal business loans to established businesses (I already have my list, so I'm not looking for any additional places to put my money to work  ). By established, I mean they have a proven record of paying back the funds with interest agreed on at the time agreed on.
I've just begun this adventure and right now the money is minimal. In 2006, however, I anticipate I'll be moving thousands at a time. The online portion isn't what concerns me - it's the offline portion.
I've been reading various information on the IRS website and I see that anything over $2k is susceptible to SAR (Suspicious Activity Reporting) reports being filed. No big deal. I'll talk with my bank manager so she knows what's up and where the funds are coming from. I also know it's not a good idea to break up a large amount into smaller amounts to avoid scrutiny (it's illegal).
Aside from discussing the origin of the money involved with my bank manager and a CPA I choose at that time, what else do I need to know to avoid raising any "red flags"?
Thanks in advance!
~Darwin
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