Message:

<p>[QUOTE=&quot;springfld.arsenal, post: 325313, member: 54&quot;]I’ve sold and bought things and groups of things in the 5-fig range usually with established dealers being the other party.&nbsp; The preferred method is with business check.&nbsp; From dealers standpoint we have to pay taxes and keep records to back up most of the transactions, some cash transactions are acceptable and a recognized part of the business, but I try and keep them to a minimum knowing that my biz will be audited sooner or later and I want to pull out the bank statements and check images especially those showing what I paid out for the expenses “basis” portion of the accounts.&nbsp; Your dealer wants the check images to show the tax man when the time comes, it is the professional way to do this.</p><p><br /></p><p>But once I met an old friend in a parking lot to see what he had in trunk of his car.&nbsp; Nice item, haggling wound up at $24K and cash was only way he’d do it.&nbsp; I counted it out with my witness present, he signed a handwritten bill of sale, and he put the 240 C-notes into a black sock while I took the thing.&nbsp; He wasn’t “an established dealer” but was someone I trusted wouldn’t have any stolen goods.&nbsp; I’ve never had anyone decline to execute a bill of sale regardless of means of payment.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in