Time to buy and how pay
Hi, we are come from Germany. In a few month we start the full time tour during the States. So we have questions... Can someone tell me if the Prices to buy an RV changes during the year ? In G...
Forum Discussion
Bumpyroad wrote:
re. big bag of cash. aren't there issues with over 10,000 cash purchases?
bumpy
Cash transfers over $10,000 need to be documented to the IRS, to be legal in the U.S. It is just a matter of filling out the proper form. The form is not necessary for larger transactions through banks (including checks) because those are reported by the banks automatically, and actually cleared differently. It takes me much longer to clear a $60,000 check or a $300,000 check than it does for a $500 or $5000 transfer.
Biggest hurdle will be title and registration, which usually must be issued to a person (or equivalent legal entity) resident in the state in which this is done. This has been almost universal as the states changed their practices to comply with Homeland Security requirements. There are law firms that specialize in handling this, although many visitors simply use a legal resident known to them as their proxy.
