My sugar daddy has paid me in cash every week since September. He gives me about $1400 a week plus he pays some of my bills. I don't have a regular on-the-books job, but I do dance. I'm also a college student. I'm married and my husband works full time. I do not intend to pay income tax on any of my under the table income from 2010.
He is also buying me a brand new car, and it will be registered in my name. I have another car that I have a loan on (about $345/month) and I'm concerned that another car will be a red flag to the IRS.
My questions are..
- How can I avoid the new car being a red flag? Should I pay gift tax on it?
- How can I invest all this cash (or at the very least, save it in an account) without paying taxes on it? I have some in a safe deposit box, but I'd like to invest some without it looking suspicious. I'm willing to go to the Caribbean to deposit the money in a foreign account.
- Are foreign banks reliable? Is my money safe there? What risks are involved with this?
Thanks for your input!



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