Large Cash Transactions: The IRS Needs to Know Cheshire CT
If your business is ever aparty to large cash transactions, you should have written procedures in place,prepared with advice from legal counsel, concerning how to handle suchtransactions. All of your employees should be well trained in cash reportingprocedures, especially those that are involved in processing the transaction.Failure to comply with cash reporting regulations could cause your business tobe suspected of money laundering, violating cash reporting laws and fined forthe cash reporting violations.
Mr. Peter L. Vescovi (RFC®), CFA, CSA
203-271-9114
408 Highland Avenue
Cheshire, CT
Mr. Peter L. Vescovi (RFC®), CFA, CSA
203-271-9114
408 Highland Avenue
Cheshire, CT 06410
Company
Covenant Financial Services LLC
Qualifications
Years of Experience: 17
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Medicaid Planning, Tax Planning, Tax Returns, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Auto Home Insurance, Charitable Planning, Education Plan, Healthcare Accounts, Asset Pr
Data Provided by:
Mr. Scott A. Staschke (RFC®), CFP
203 453 3458
2415 Boston Post Road, # 14
Guilford, CT
Mr. Scott A. Staschke (RFC®), CFP
203 453 3458
2415 Boston Post Road, # 14
Guilford, CT 06437
Company
Guilford Financial Group, Inc.
Qualifications
Education: BS
Years of Experience: 11
Services
Invoice, Estate Planning, Portfolio Management, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Charitable Planning, Healthcare Accounts, Asset Protection
Data Provided by:
West Side Tax Svc
(203) 634-4910
302 W Main St
Meriden, CT
West Side Tax Svc
(203) 634-4910
302 W Main St
Meriden, CT 06451
Data Provided by:
Jackson Hewitt
(203) 755-2900
525 Meriden Road
Waterbury, CT
Jackson Hewitt
(203) 755-2900
525 Meriden Road
Waterbury, CT 06705
Data Provided by:
H&R Block
(203) 679-0425
1092 N COLONY RD
WALLINGFORD, CT
H&R Block
(203) 679-0425
1092 N COLONY RD
WALLINGFORD, CT 06492
Data Provided by:
Mr. Charles W. Hermann (RFC®), CPA
203-248-8481
P.O. Box 185600
Hamden, CT
Mr. Charles W. Hermann (RFC®), CPA
203-248-8481
P.O. Box 185600
Hamden, CT 06518
Company
Genworth Financial Securities Corp.
Qualifications
Education: BS
Years of Experience: 13
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Medicaid Planning, Tax Planning, Tax Returns, Seminars Work, Employee Benefits, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Group Insurance, Business Coach, Education Plan, Asset Protection, BuySell
Data Provided by:
Budwitz & Meyerjack PC
(203) 272-1621
1122 Highland Ave
Cheshire, CT
Budwitz & Meyerjack PC
(203) 272-1621
1122 Highland Ave
Cheshire, CT 06410
Data Provided by:
H&R Block
(203) 235-7977
626 E MAIN ST STE 3
MERIDEN, CT
H&R Block
(203) 235-7977
626 E MAIN ST STE 3
MERIDEN, CT 06450
Data Provided by:
Pelletier Marc S PC CPA's
(860) 620-5500
666 Main St
Plantsville, CT
Pelletier Marc S PC CPA's
(860) 620-5500
666 Main St
Plantsville, CT 06479
Data Provided by:
Mark F Majewski Accounting Svc
(203) 756-3167
1722 E Main St
Waterbury, CT
Mark F Majewski Accounting Svc
(203) 756-3167
1722 E Main St
Waterbury, CT 06705
Data Provided by:
Data Provided by:
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If your business is ever a party to large cash transactions, you should have written procedures in place, prepared with advice from legal counsel, concerning how to handle such transactions. All of your employees should be well trained in cash reporting procedures, especially those that are involved in processing the transaction. Failure to comply with cash reporting regulations could cause your business to be suspected of money laundering, violating cash reporting laws and fined for the cash reporting violations. Knowing what transactions are reportable is necessary to comply with the cash reporting regulations. You are responsible for reporting to the IRS any sale that meets the following conditions: 1. The customer pays with more than $10,000 in cash. Cash includes domestic/ foreign currency. (Note: personal checks, business checks, certified personal or business checks (the kind that are from a bank), and proceeds from a loan are not considered cash.) 2. The customer pays with a cashier’s check, bank draft, traveler’s check, or money order with a face value of not more than $10,000 that is either received in a designated reporting transaction or received in any transaction where you know and/or suspect that the cashier’s check, bank draft, traveler’s check, or money order is being used to avoid the reporting of the transaction. A “designated reporting transaction,” is defined as a retail sale of a consumer durabl... |
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