The tax man expects all of us to report our income. Most street pharmacists don't do this and end up getting caught like Al Capone. The PD didn't have enough evidence to convict him until they noticed he wasn't paying taxes on his unreported income. There are a few ways to work around this, which often require some extra effort. First of all, limit the amount you deposit at a time. More than 10k will be reported and they will try and find out where it is coming from (not an actual investigation). Even more than 1k will generate a report. This link explains a few ways of doing it.
http://www.wisebread.com/how-to-launder-money
This link explains deposits
http://www.bankingquestions.com/businessaccounts/q_depositreportedtoirs.html
The best thing and legal way to do is to just report your income on your taxes. Either claim self employment, or barter for goods and services. If you don't report your income and pay taxes, there will be penalties and a bigger chance of you being under investigation.
Another way that people are doing it is to be claimed as an employee of a business. You give them the cash while they give you the equal amount back in a check. Thus you are generating legitimate income.
http://www.wisebread.com/how-to-launder-money
This link explains deposits
http://www.bankingquestions.com/businessaccounts/q_depositreportedtoirs.html
The best thing and legal way to do is to just report your income on your taxes. Either claim self employment, or barter for goods and services. If you don't report your income and pay taxes, there will be penalties and a bigger chance of you being under investigation.
Another way that people are doing it is to be claimed as an employee of a business. You give them the cash while they give you the equal amount back in a check. Thus you are generating legitimate income.
