Quote from max401:
And one of my favorite lines from this year, the stock broker telling Carmela, "Just a few more dollars and I'd have to have you sign a Federal disclosure form for a cash transaction over $10,000." To which Carmela innocently replies, "Really, what a coincidence." as the camera pans down to her to-do pad and she crosses off the brokers name from a list of four with the figure "9.9" after each of them.
IRS form 8729 "CTR".....(currency transaction report). Every bank has them. Every casino has LOTS of them. But in real life, I don't think any brokerage takes cash no matter what the amount. A little "poetic license" taken by the writers for the Sopranos.
One of the big jokes in Las Vegas. This form goes on a calendar basis. Has to be filled out for buy-ins. Guy buys in at 11:59 pm for $9999 cash, and can buy in again for another $9999 a minute later. Not 24 hours later. I would say that far, far more of these forms are filled out between 11:30 pm and 12:30 am than in the other 23 hours of the day combined. Actually, I don't recall EVER seeing this form used any other time of the day. And even so, it is a useless form because virtually no one really complies. Far too many ways around it (see following explanation).
Banks seldom see cash. But brokerages? Never...to my knowledge. Certainly not in any "wirehouse" firm.
And in the casinos, yeah, you see virtually ONLY cash buy ins. But nothing prevents you from buying in for 9k, then having other people buy in for 9k for you. No records. No limits. No problem cashing out. Winnings and redemption of casino checks (what most people mistakenly call "chips") are not taxed. Taxes are collected on payoffs basis only on long odds. So you see slot machines that pay $1,199 jackpots to avoid the tax on a $1,200 payoff. A guy bets $100,000 on a hand of blackjack, wins $150,000 on one hand if he gets a blackjack, and pays no taxes. The poor shmuck that wins $1,200 on his $3 keno ticket gets the taxes taken out on the spot. More great IRS "fair taxation". Same at the race track. Bet a million dollars, win a million dollars, no tax. Bet $2, hit a $1200 exacta, and they take the taxes out ON THE SPOT.
The IRS...what a perversion of "fairness". The IRS tax
INDEX is longer than all of Darkhorse's posts put together and multiplied by the frequency of Aphie's posts and multiplied once again to the amount of Gordon G's "LOL's" from the inception of his posts.

(we all love ya Gordo....keep 'em coming...just making a point here..taking my OWN poetic license, if you know what I mean).
By the way, speaking of Gordon G...Gordo, who do you like in the big trading competition scheduled for this coming Monday between FPC and Aphie? You got any $ action on this event?
Peace,

Rs7