Originally posted by Cisco
Quote: | Originally posted by Bajaboy
Quote: | Originally posted by BajaGringo
Quote: | Originally posted by m923a1
Canadians aren't the target, but yeah, one could safely say that if you are a foreigner, you probably shouldn't be driving around with tens of
thousand of dollars in currency. |
That in itself is now a crime??? |
No one said it was a crime. Stupid, yes |
Zac, there's some rulings that can make it a crime I understand.
10K or more seems to be the point at which everyone gets excited. Tried moving in excess of that amount in banking and was told that the authorities
had to be notified and why not do $9,999 and it's legal.
Don't know what the deal is but there's something about leaving the country with more than 10K cash that screwed up a trip my oldest boy was making
last year. Missed a flight while they verified funds, or his source of funds. They wanted it themselves.
And years ago, before the peso devalued the more politically astute friends I had in T.J wanted to get the money out of the country. We moved millions
of pesos to the U.S. side, investing all in real property. That's where "Taco Tower" at the shores and a lot of Coronado Cays came from.
Hold for 18 months and sell for cash American.
There was so much of this going on that those of us in real estate financing, mortgage banking, escrow, whatever were made into IRS 'snitches' by
having to abide by the new RESPA act. Real Estate Settlement Procedures Act where the initial funds for the purchase had to be accounted for or they
were taxed with any sale proceeds.
So yea, there seems to be a law or regulation for just about everything and it all seems to go from our overall's pockets to the nebulous "Man"
somehow. |