"If I were to fly to his place, get the money in cash instead of cheques, would that be a possible way of lowering the amount of tax I pay? I have to pay a lot!" How would that lower your income tax? you're simply just changing the method of acceptance. But regarding whether you can carry 30K with you, why don't you just ask the airport, or security checkmen next time you're there.
Border security (Customs or whatever else it is called depending where it is) can and will ask what the money is for. They could suspect that it's for drugs or money laundering. They'd probably want to know why it wasn't deposited in a bank account or drawn as a bank cheque (check). And I think burning money is a federal offence.
Maybe carry in a few different things like some cash, a bank check, and some amex traveler checks. No sense in having it all cash. I believe in USA it's $10,000 cash limit anything more you need to declare. I agree that offshore banking might be best bet though.
With security as tight as it is I would say that's not a great idea and like ms11 said discussing this in a public forum isn't too bright either. Not being condescending just looking at what you're doing objectively.
Damn!!! 30k per month... i dont know where you keep your money dude... I made 10K once with iphone unlocking and I went to deposit to the bank proudly (yeah I know stupid me)...and they ask me so many questions...I really thought they were about to take it away from me seriously... I am from Quebec and you know the taxes here are killah... So I gotta agree with the rest. Make it legit and hire some good CA and Lawyer...Cuz you might lose more if ever you get caught...
Open anonymous Swiss Bank Account. They are tax free. Deposit money there. When need withdraw from your local ATM booth by Debit Card.
I live in Ontario and i have numerously transferred money from Europe tad to Canada. Ive never had to pay taxes Its something ive never heard 22.5 % tax lol It just sounds not true to me..
Hemm... you might want to look into setting up an ordinary corporation at Anguilla. http://www.anguilla-beaches.com/offshore-corporation.html P.S. I don't know enough about this topic... only that police love confiscating money and letting the courts sit on it for years. If you're lucky.
Know nothing of Canada but I was born and raised in Alaska. When I was younger one of my friends mom's flew to Seattle to purchase a car (much cheaper there). She took around $20,000 in cash with her, the airport security seized it for suspicion of being drug money (no roads in or out so people buy drugs down south and fly back with them). Long story short she got it back but it took a lawyer and nearly a year to do so.
why dont you just open a joint bank account so he can deposit the cash for you. it will save you both the trouble.
Look, its very simple. You cant do anything about your taxes without not paying for them. Whatever method of transportation you use now and report it or creating a new method of not reporting it. You have to ask yourself this though - what are you going to do with $30k cash every month. I doubt you can spend so much and you cant deposit it into banks. Here in US if you deposit 10k or more the bank will report it to the government (IRS). You cant purchase real estate with cash, you cant buy stocks with cash. If you choose cash you will have to figure out a way to get it from your partner and then later on another way to wash the money so that you can use it. You need to talk to your lawyer / accountant friends for some other options. Let him show you the benefits of having offshore corporations. They are 100% legal in US and are used by all the big corporations to cheat IRS out of money.
The best way to do it, would be to open an offshore account, in countries such as the Cayman Islands or Switzerland. Tell the person giving you the money to send it to the offshore account. That way, you won't have to pay tax