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Stack47

Kentucky
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Sep 23, 2010, 9:54 am

Quote: Originally posted by victorl3ichiban on Sep 23, 2010
it is illegal in CA. If a police came into your house and found out if you have more that $10,000, they will easily cease it and freeze the money and you would have a lot of answering to do. Also think bout how your house might get caught up in fire. You don't want all those cash to burn away.

Is there really a California legal statute prohibiting the citizens of that state of having more than $10,000 in their home or are you just making an assumption?

"If a police came into your house and found out if you have more that $10,000, they will easily cease it and freeze the money and you would have a lot of answering to do."

California is still part of the U.S. and Constitution says the police or FBI need a search warrant to search your house. Did you forget your topic is "if you win the jackpot" because even if the police had just cause to search your home, it would be simple to prove where the money came from?

"Also think bout how your house might get caught up in fire."

$10,000 isn't really a large sum of cash for a multi-millionaire to have in their home and a good fireproof safe costs under $500.

If you're so concerned about the police coming to your house and finding cash or hiring a lawyer from your other thread, maybe the first thing you should do "if you win the jackpot" is move out of California.
rdgrnr

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The Hall Of The Mountain Kings Tennessee
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Sep 23, 2010, 11:00 am

Quote: Originally posted by victorl3ichiban on Sep 23, 2010
it is illegal in CA. If a police came into your house and found out if you have more that $10,000, they will easily cease it and freeze the money and you would have a lot of answering to do. Also think bout how your house might get caught up in fire. You don't want all those cash to burn away.

They freeze the money?

Man, then if you get it back, do they pay you in cold cash?
OwlCreekBridge

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Sep 23, 2010, 1:19 pm

Quote: Originally posted by johngreek on Sep 23, 2010
i didn't know that victor

but even if it is illegal how can one now how much money you have stashed in hidden house spots or safes?

If it was illegal to keep over $10,000 in your home, which I doubt. I suggest you stay on the right side of the law. I don't know what Greece is like but the US government don't play.
ttech10

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Sep 23, 2010, 2:34 pm

Quote: Originally posted by Colt45ML on Sep 23, 2010
They could, and probably would, sieze it under the RICO statutes. All the cops have to say is that they suspect that you got this money through illigal means, such as selling drugs. You would go through hell trying to get it back, and you still probably wouldn't be able to. I'm sure they have some Patriot Act statute that they can use to rob you too. This kind of stuff makes my blood boil.

That's why I suggested having it withdrawn from a bank and keeping the bank receipts with the money. That way if, for whatever reason, a cop searches your home and finds tens of thousands they would at least have some clue that it did in fact come from a bank. Also if they questioned how you came about so much money you could probably mention the lottery (if you didn't claim anonymously/with a blind trust) or have them speak to your lawyer which could likely settle it.

Of course I would still feel pretty iffy about leaving so much money in my house. Even if it was in the best safe, 30 feet underground or whatever. I may have a few thousand around the house but nothing major.
B$Rizzle

The Ville, FL
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Sep 23, 2010, 2:42 pm

if you are going to give your parents $2 Million then just accept the check from the lottery office and then setup a seperate account with your Mom/Dad/You as owners of that account. Then just let your parents use the account in which the $2 Million is deposited in.

You would still have a "Main" account that has all of your money and then you just transfer $2Mil to your Joint account with your parents =) that way no gift tax & your parents only have access to the joint account

I did this with my wife, but I deposited far less than $10 Milion =)
savagegoose

adelaide sa
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Sep 23, 2010, 3:30 pm

i think in greecs cash transactions over $1400 euro are now illegal

" Still swinging, still missing "
2014 = -1016; 2015= -1409; 2016 = -1171; 2017 = -1257 ; 2018 = - 1380 = TOT = - 6233

keno historic = -2291 ; 2015= -603; 2016= -424; 2017 =-427; 2018= -223 TOT = -3968

:
victorl3ichiban

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Sep 23, 2010, 3:43 pm

USA government don't play with regular citizen but celebrity now a day seem to get away with everything just look at Lindsay and Paris.
rdgrnr

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The Hall Of The Mountain Kings Tennessee
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Sep 23, 2010, 6:21 pm

Quote: Originally posted by OwlCreekBridge on Sep 23, 2010
If it was illegal to keep over $10,000 in your home, which I doubt. I suggest you stay on the right side of the law. I don't know what Greece is like but the US government don't play.

What do you mean you don't know what Greece is like? Didn't you see "300"?

I wish Leonidis and the Spartans were still around to deal with them Persians again.

Our leader is far too sensitive.
CutlassBob

Harrison Township Michigan
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Sep 23, 2010, 6:54 pm

Quote: Originally posted by victorl3ichiban on Sep 21, 2010
let say you win 10 million dollar and wants to give 2 million dollar to your parents. would you claim all 10 million and right 2 million check to your parents are let them come with you and let them claim at the office? would they still tax you on gift tax when your family member come with you and get the money with your or they will be tax seperately? I am always confused abou this. I know that the government would be chasing your ass once your write check of 2 million dollar to your parents and eventually tax you on gift tax so what is the best way?

The estate-tax laws changed markedly as of 1 Jan 2010, and further change is expected. The recipient of a gift made by a U.S. citizen has nothing to worry about, no matter the size of the transfer, because gifts are not taxable income. No estate tax at all is imposed in 2010 because that tax was repealed for 2010. Contrast this with 2009, when an estate of less than US$3,500,000 was not taxed, depending on prior gifts; then in 2011 the current law restores a limit of US$1,000,000.

Read the rest of this here...http://invest-faq.com/cbc/tax-estate-gift.html

Cutla$$Bob

"You can't handle the truth!" Nicholson.
OwlCreekBridge

lottoville
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Sep 23, 2010, 8:32 pm

Quote: Originally posted by rdgrnr on Sep 23, 2010
What do you mean you don't know what Greece is like? Didn't you see "300"?

I wish Leonidis and the Spartans were still around to deal with them Persians again.

Our leader is far too sensitive.

"300" took place over 2,000 years ago. I'm sure quite a few things have changed since then
rdgrnr

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The Hall Of The Mountain Kings Tennessee
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Sep 23, 2010, 11:37 pm

Quote: Originally posted by OwlCreekBridge on Sep 23, 2010
"300" took place over 2,000 years ago. I'm sure quite a few things have changed since then

Surely there are a few good Spartans left. They're probably down by the Hot Gates.

I'll have to ask that guy from Greece when I see him.
RJOh

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Sep 26, 2010, 12:38 pm

If I won $10M in a lottery and wanted to give $2M to family member of anyone else I would fill out a IRS form 5754 showing them as 20% owner of the winnings, that way they would get $2M along with the responsibility of paying all taxes on it.

* you don't need to buy every combination, just the winning ones *
Delta Draw

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Sep 27, 2010, 12:56 am

Quote: Originally posted by pumpi76 on Sep 22, 2010
rare ailments/conditions/diseases the ones that rarely get support or publicity, stuff that are not common...That´s where i will go....rare causes...

sorry thought you meant charities...

Pumpi! You live with your dad, don't you think he is a good cause after all these years?

DD
Delta Draw

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Sep 27, 2010, 1:10 am

Quote: Originally posted by rdgrnr on Sep 23, 2010
Surely there are a few good Spartans left. They're probably down by the Hot Gates.

I'll have to ask that guy from Greece when I see him.

Oh poo!.

What difference does it make if Caesar wants his toll?

Nothing new about taxes, Ridge Runnicuss-Maximus.

It is the product of government!

Go down to see our master and ask him about his rotted rye seed for his reply. He got the idea from that seaside loafer who talked about riding on waves with a plank carved of wood. He never paid taxes because he did not work.

DD

Ahh, Socrates, the original party animal!

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