A third generation farmer is concerned about people just coming in and taking the money he has saved up in his home/office safe.

he hears and reads stories about peoples money just getting taken by "law enforcement" officials.

His 500 acres are paid in full as is all his machinery and home.

He's not worried about the 1.6 mil in the bank, he's worried about the 400,000 in the 3000 pound safe.

not worried about theft from burglars or break ins.

What is sad is a child of the depression era, or one of their children who listened closely to the parents' stories of monies lost, could have a lifetime of savings stolen by the government because.

If the person in the story starts buying stuff with the saved income laying within the safe (such as a couple of vehicles and maybe some additional land), all the money could be stolen from him.

What is... Jupiter?

edit: your second post sort of helped me understand what you are saying. I dont see how its the governments fault for ones poor decision to educate themselves or find someone who is educated that can help them.

Even if they do NOTHING with their money they are still losing at the rate of inflation costs.

He is a fool to let that fact surface to you or anyone!

He's worried about the cash in a safe.

He needs to dig a dozen holes, each 10' deep, 5' long, 3' wide at various locations on his farm.

Into each goes an hermetically sealed nitrogen gas-filled aluminum tube made with 0.25" walled tubing. The tube is attached to a 150 pound piece of ferrous metal to make it easy to locate with a metal detector.

Once of these aluminum tubes is marked "CASH" in big letters. He needs to leave this one on the seat of this excavator while he takes a break for lunch.

Then he needs to drop one tube into each hole, taking a GPS reading before filling it in.

Once he is done, needs to clean his excavator very carefully. He also needs to burn all the clothing he had on.

Then he needs to secretly move the cash to the bank he uses, making sure to deposit exactly 7/22 of the total cash on hand each time until all the money is deposited.

quote:

Originally posted by bendable:
A third generation farmer is concerned about people just coming in and taking the money he has saved up in his home/office safe.

<snip>

not worried about theft from burglars or break ins.

Kind of a contradiction, don't you think?

He's going to die and the government will take it anyway. He needs to live his life and start spending.

quote:

Originally posted by Deqlyn:
What is... Jupiter?

edit: your second post sort of helped me understand what you are saying. I dont see how its the governments fault for ones poor decision to educate themselves or find someone who is educated that can help them.

Even if they do NOTHING with their money they are still losing at the rate of inflation costs.

If there was a post with a magic "bendable->English decoder ring" it doesn't seem to be here now.

I will guess it may be about someone who has been hoarding cash and is afraid of running afoul of the 'cash=presumption of ill-gotten-gains' laws and having it seized?

If that is true, what I'd suggest the cash owner do is hire an attorney, and the both of them (the cash-holder and the attorney) go sit down with the president of a local bank and see what they can come up with. It might involve the bank arranging an armored car to come pick up a large cash deposit.

If he didn't want to put it in a bank before now, what makes you think he wants it in a bank now?

Spend it. Hookers & blow would get you part way there.

I have a customer selling a boat for $150k, the people buying it tried to pay him in cash, in a garbage bag, unfortunately he has a loan for almost that amount and couldn't sell it to them that way.....LOLOLOL

Typical S Florida boat sale.

he needs to make 40 piles of bills, with $10,000 to a pile, and each stack being no more than 3 feet tall

half should be large bills of $50 or $100, and half should be small bills of $5, $10, or $20

then find 40 close friends that he trusts completely, each of which is at least 37 years old and live more than 9 miles away from him, but not across state lines

give each friend 1 of the stacks of money, tell them to keep it for at least the next 21 years, and AND! make sure they agree not to tell anyone else about it

every 1.3 weeks, call each of the 40 friends for 9 minutes, to make sure they haven't told anyone

every 5.5 weeks, stop by their house for 11 minutes to make sure they haven't spent any of the $10,000

if he needs money for something, tell 1 of the friends to bring their money down to the co-op at 5:29 pm, park 17 yards from the southwest entrance, and wait 6.1 minutes for him to come get it

if that won't work, have them bring 2 friends to the diner, sit at the 5th table from the kitchen at 4:21 pm, and wait 13 minutes

quote:

He's going to die and the government will take it anyway. He needs to live his life and start spending.

his dad, grandpa and now he has all of the assets in a ...trust or estate or something .

when he goes ( he is only 55 y.o. but he can out work a lot of 40 y.o. kids)
there are four others on the legal paper, that still own the whole shebang.

So he is not worrying about of money going away in taxes etc, when he dies.

I opened up a 300 pound safe, not bolted to the floor, in a farm house with $750K inside.

I told the guy that probably wasn't a great idea.

This is similar to the Herbert Clutter family from Kansas (In Cold Blood book). He was successful, but kept all his money in the bank, and paid with checks only. Trouble is some robbers came and killed his entire family, thinking there must be money at the house.

Keeping cash in a safe is a sure way of getting criminals to come and take it. The farmer may think robbers are not a problem, but probably he has no clue as to how ruthless robbers can be.

quote:

40 y.o. kids

Thanks, Bendable. I feel much younger all the sudden.

To the main point, though, I wonder what an accountant or tax lawyer would have to say about the situation.

Sorry, given the title I thought we were looking at something like a Fargo scenario.

Any chance that that $400K was never reported as income and if the Feds find it he is in serious trouble for tax evasion?

Where is my decoder ring when I need it?

Under the umbrella of “civil forfeiture,” officers of the law confiscate millions of dollars in cash from thousands of individuals .

In doing so, they need no proof that the money is obtained through illegal means. They do not need to file a criminal charge.

The law flips the American justice system upside down: the burden of proving innocence is on the “suspect” -- and if he or she can’t do that, the property is fair game for officers to take.