There used to be a guy who ran weekly ads in the local fishwrap which he entitled, "A Moment Of Your Time Please!" and in those little ads he would make recommendations for his friends in business, who provided the best products and services and invariably offer free advice on all manner of things and I always liked those little ads, so......................
A Moment Of Your Time Please!
To those of you who have blocked ePass funds who also have bank accounts to which funds could be wired, I offer you some free but nevertheless valuable advice. Fully documented financial transactions are not and cannot be considered to be any form of "money laundering".
Peer-to-peer transactions do not constitute money laundering as long as fully documented but may well be taxable. Essentially undocumented transactions between individuals are going to be considered punishingly taxable events to the recipients of the funds by one authority or another and may also be deemed to be unlawful. Transactions which you may think nothing of, when handled one way are completely lawful but if handled improperly fall under all sorts of unpleasant rules like money laundering and tax evasion regulations. Western Union and Moneygram will both require full documentation on both ends after certain dollar figures are reached but they do not tell you this in advance and both will lock up funds unless and until full documentation is presented, which can put you right back into the same sort of mess you're trying to get out of. Western Union and MoneyGram can, willl and do require full documentation for even certain initial transactions depending on the amount involved and will also report to relevant taxing agencies.
Accounts containing substantial funds are traded at a discount every day on the stock exchanges of the world and those transactions are not deemed to be any kind of money laundering or unlawful because they are handled in the appropriate and legal manner. Those who play fast and loose with the rules end up like Bernie Madoff and the Enron guys.
I do not play fast and loose but instead adhere strictly to relevant financial regulations and will play it no other way. I can do virtually unlimited wire transfers to bank accounts accounts, can and will do Western Union and Moneygram up to the limits, if any, which those agencies may impose and will require full documentation for all transactions but whenever possible, wires are best.
As far as ePass goes; it's your money and you need it now. If ePass cannot or will not help, there are others, including myself who can and will.
If my offer of a 30% discount rate on blocked funds seems punituve, consider that there is significant paperwork associated with each transaction, legwork, the inevetiable necessity of a contingency fund should the tax situation in any way go awry down the road and as in any business venture, a certain element of risk is always present.
Regardless of who you are and who you do business with on either end of this quagmire boys and girls, keep your paperwork in order and don't end up in tax alligators up to your ass, your tits in a ringer or your balls in a vise.
I will be avaiable on AIM and ICQ after 11:00 a.m., CDT, Saturday.
Sally.
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