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Thread: saftey deposit box

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    Default saftey deposit box

    I have been putting most of my money in a safety deposit box at my bank! It is right on the corner of a busy intersection so I feel safe...what do you guys think? I hear a lot of girls have their own safes but I just don't feel comfortable having it around the house?

    Thanks

    xoxo

  2. #2
    God/dess ViolaStrings's Avatar
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    Default Re: saftey deposit box

    Avoiding the tax man, huh?

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    Default Re: saftey deposit box

    i think pretty much everyone in this industry is taking the tax man for a ride

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    Veteran Member Danielle_'s Avatar
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    Default Re: saftey deposit box

    My family is very into those. So I'm familiar w/ them & it's much safer than just having money lying around your house.

    Forgetting things we shouldn't remember is why god invented amnesia and Tequila. - Samantha Who

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    Featured Member lolagetz's Avatar
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    Default Re: saftey deposit box

    You know, I'll bet that at that very same bank they have a thing called a savings account, and you can put your money in there and it will be very safe, AND it'll actually earn a little interest!

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    Banned Melonie's Avatar
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    Default Re: saftey deposit box

    I just thought I'd mention that bank safety deposit boxes are not 'private'. The IRS or bank management under IRS direction can check the contents of individual safety deposit boxes without a search warrant and without 'probable cause'.

    In comparison, a safe within a private residence cannot be opened without a search warrant, and in order to obtain such a warrant 'probable cause' must be demonstrated to the satisfaction of a judge issuing the warrant.

    Also, there IS a reason that a working dancer would benefit from having cash in a home safe versus a bank safety deposit box. The reason is that you never know when a bogus bust might go down such that bail money and legal fees might be needed in a hurry, and in general bank safety deposit boxes cannot be accessed while the bank is closed !

    As I have discussed in other threads, I actually have two home safes. One is a 'decoy' in case burglars or supposed 'friends' get any ideas. The other is well hidden, very secure, and actually used to store valuables.

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    Default Re: saftey deposit box

    thanks for the advice! I do a savings account too that's why I started the Box thing because number's were getting pretty high! I think I should just do it the right way and file for taxes I would rather do that then get screwed! But I should keep some at home in case of a emergency! I never thought of that! thanks everyone!

    xoxo

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    Default Re: saftey deposit box

    As the old saying goes, don't put all your eggs in one basket.

    I am a STRONG believer in NEVER having all of your money in the bank. We live in a litigious society, and if your bank account gets levied, all of your money is gone.

    That is why most businesses incorporate, and why many savvy people have their personal assets in an equity corporation.

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    Default Re: saftey deposit box

    I agree with having money in all different places. I wouldnt ousput a fuck ton of it in my house because anybody can pick up a home safe and carry it out unless yo
    buy a super big one. Melonie is right you should always have (if possible) 3500 or so in your house for legal emergencies.

    Then some in deposit box and some in bank.

    Also, NEVER deposit anything more than 4900 dollars at a time. 5k and up deposits are reported to the tax man
    Sexy Jasmine after getting fucked over at work:

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  10. #10
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    Default Re: saftey deposit box

    I thought it was 10K? Did they change it? If you want to stash away a bit of money you can always go to the post office and get money orders up to 1K. It's more discreet than a bundle of cash in case your home was robbed. But yeah you should pay taxes if you want to use the money for anything like a car, a house, tuition, or any purchases made through a credit card or debit card (online purchases.) IRS can track all these and it leaves you vulnerable to an audit if you have a lot of undeclared funds floating around. And really, what's the point of making so much money if you can't spend it on the important things? Unless you want to live off cash UTR for the rest of your life.

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    God/dess fancygirl's Avatar
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    Default Re: saftey deposit box

    warning on money orders, my bank stopped taking money grams because there's a lot of fakes going around...makes it a pain to send money home and ACTUALLY PUT IT IN MY BANK! They only take the post office m.o.'s now because I guess those can be verified before deposit.

  12. #12
    God/dess ViolaStrings's Avatar
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    Default Re: saftey deposit box

    ^ get an account at a local credit union, they're all part of a national collective, so you can deposit your money in person just about anywhere.

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