Transfer of Large Amounts of Funds?

[Zedder]

I think times are changing and large deposits/withdrawls are attracting a lot of attention. Tax evasion is a serious charge (at least it is up here in Canada) and getting caught at the border can get your car confiscated and not returned! I wire transfer funds and pay full tax when I register the car, it's just not worth it for me to take a chance for a few thousand dollars. And yes, I also claimed the profits that I made last year on my tax return - again, it's not worth taking the chance. If you ever get audited, and it's just a matter of time if you make a decent living, how are you going to explain that 6 figure deposit make to your bank account??? Car profits are taxed at capital gains rates minus expenses etc. so it really isn't that bad if you keep good records. Cash used to be the way to go, but we weren't talking about 6 figure cars back then