So, I've got a nice mutual fund along with some stocks in a consolidated account going, and I just took advantage of the check writing ability.
What I've been wanting to do is put as much money in the fund and keep my bank account low. The problem of course is that with the bank account low, some bigger purchases require moving funds over.
What I'm wondering though, now that I have check writing ability, is would there be a problem with writing a check from the investment account to a gun store for a purchase, instead of just transferring funds to the bank account and then using cash or whatnot.
The earnings in the account get reported already as income, so it wouldn't affect taxes at all, or be considered some sort of fraud.
I'm just wondering if there is something I hadn't thought of. The LGS I trust and I don't think they'd do anything fishy with my checks..... so ruling that aside for the moment, anything else I'm not thinking of?
Either legal or otherwise?
What I've been wanting to do is put as much money in the fund and keep my bank account low. The problem of course is that with the bank account low, some bigger purchases require moving funds over.
What I'm wondering though, now that I have check writing ability, is would there be a problem with writing a check from the investment account to a gun store for a purchase, instead of just transferring funds to the bank account and then using cash or whatnot.
The earnings in the account get reported already as income, so it wouldn't affect taxes at all, or be considered some sort of fraud.
I'm just wondering if there is something I hadn't thought of. The LGS I trust and I don't think they'd do anything fishy with my checks..... so ruling that aside for the moment, anything else I'm not thinking of?
Either legal or otherwise?