[Jewelry making - Article 00435] - Re: [Orchid] Patriot Act, How you do business?

[Michelle McClanan]

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Thank you Daniel and Elna for your responses.

    I have mulling over what you both have said, what I have found on
    the JVC site and what has been said to me when I called my lawyer.
    And trying to map out where I am headed in the next year. 

    All of the precious metals I buy are from US sources. I have a
    couple of favorite gem dealers who are over-sees, one of whom is
    Patriot Act compliant, two who are not, but I won't be going over the
    $50K mark with my stone purchases from them unless I get really busy
    and I don't foresee that kind of volume. 

    And on that personal note: I felt that way about the requirement
    (and associated paperwork) of payment in cash of over $10K has to be
    reported to the IRS. To stem the money laundering of the drug trade
    and mafia? Where I grew up it was just more paperwork the farmers had
    to fill out since they didn't trust the banks and occasionally the
    lawyers and doctors who like to flaunt what they had by paying for a
    Cadillac in cash. That's rural life I suppose. 

Have a great day every one!
Michelle
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