tag:blogger.com,1999:blog-6373523020575468346.post5194819149380660094..comments2021-09-09T09:24:11.217-05:00Comments on Southern Living: Do We Look Like We're Made of Money Part IIAlicehttp://www.blogger.com/profile/09963493525235524241noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-6373523020575468346.post-47501839193009941252009-09-03T10:00:32.917-05:002009-09-03T10:00:32.917-05:00yes, I was also a victim of this tax...yes, I was also a victim of this tax...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6373523020575468346.post-6573155409070181902009-07-10T18:12:20.814-05:002009-07-10T18:12:20.814-05:00Of course it is awful on regular people, but it ha...Of course it is awful on regular people, but it has also a limit on how much you can deposit in a month, all added, so, even if you make smaller payments you could be taxed for overall monthly deposits. <br /><br />What we have done is use mostly transfers, we have so far been able to stay out of reach of the IDE. And of course we are heavily taxed vía or company. <br /><br />:)Alicehttps://www.blogger.com/profile/13807617344101669416noreply@blogger.comtag:blogger.com,1999:blog-6373523020575468346.post-31839221661553458352009-07-10T15:37:35.873-05:002009-07-10T15:37:35.873-05:00It's seems like a smart way to get cash only b...It's seems like a smart way to get cash only businesses to pay up, but it punishes everyone and only drives people to devise ways around it. Then you have to wonder whether it's a viable way to recover tax revenue. <br /><br />We weren't informed of IDE when we opened up our bank account, and I'm writing this loss off as another lesson of "living in a foreign country".Alicehttps://www.blogger.com/profile/09963493525235524241noreply@blogger.comtag:blogger.com,1999:blog-6373523020575468346.post-58408549275724884882009-07-10T15:18:23.787-05:002009-07-10T15:18:23.787-05:00Alice,
It isn't exactly an insane law. There a...Alice,<br />It isn't exactly an insane law. There are so many small businesses that are "cash only" who don't keep books that the government decided that the only way they could tax them at all is with this law. If they don't want to pay the tax they must keep their money under their mattress. That makes it hard for them to write checks or pay with bank transfers. When the law was put into effect it was well advertised and your bank should have warned you when you opened your account. One good thing is that bank transfers themselves aren't taxed, especially if money is wired to your account from out of the country. To get around this law if you are paid in cash (like many people are) you can divide your money and deposit it in different accounts at different banks. It is better to not keep all your eggs in one basket anyway.Bob Mrotekhttps://www.blogger.com/profile/15016079751197723749noreply@blogger.com