Sugar Babies and Depositing Money.


Hurray! It’s your first ever payday with a Sugar Daddy! You’re completely new to this, and having over 2k in hand is more than you could ever imagine. Sugar Daddy number one is definitely generous with his cash, but where do you go from here? How do you put all this money away?

assThe fact is Cupcakes, a lot of Sugar Babies have no idea what to do with their cash after they receive it. The most logical idea would be to spend it take it to a bank, but there are a lot of variables to consider. This can vary state to state, so definitely check with your states laws on different ways you can get this money tucked away, also consider that some things you may do can arouse suspicion in your countries government or may also be considered illegal. So before following any of this advise, please please please check with your local laws! There are many different things to consider when receiving cash!

First of all, is your allowance over 2000? Mine was.  Most seasoned sugar babies know that they shouldn’t deposit more than 2k a month into your bank.  Anything over 2k will be reported by the bank. If you break it down into smaller transactions, you can still get caught.  Basically, any random amounts of money going in and out of your bank will be going back to the government for them to see. So, a lot of Sugar Babies decide not to take that route.

If it’s not then you’re more than welcome to stick it right in that bank of yours, however, keep in mind that this can go back to the government and you could still be under scrutiny. The government could discover these transactions and then you’d be doing some Q&A. :/

I personally like to handle my money with money orders, and in cash.  Paying rent with money orders from gas stations and stores is not traceable to you like it would be at a bank.  I also like carrying cash with me.  Keeping cash can be dangerous so investing in a safe was important to myself also. I find that prepaid cards are good when going out so I don’t spend all my money, and it also makes me more conscience about money verses putting all of my cash into my purse and going on my merry way.  I will put smaller amounts into my bank when leaving for long trips, also, but I’ve never had any issues with that and looking “suspicious”.
My favorite way to get the bills paid is the sugar daddy actually paying them. Gifts, trips and rent is a great way for Sugar Daddies to pay us, and if you get bored of that Gucci bag, there is always Ebay. That can go into your paypal, right into your bank account. 🙂

Obviously, everyone has their own way of doing this. I really hate posting about how people should deposit money, because people are different and have different methods. What works for you may not work for another. I’ve had my other SB friends tell me my method was ‘wrong’ but it works for me.

So, I want to know SB’s, How do you handle your money?

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20 thoughts on “Sugar Babies and Depositing Money.

  1. what about if you don’t have any bills being paid through your bank account and you just use your checkings as a savings. will it still effect the IRS or goverment?

  2. Someone like me, on welfare, probably shouldn’t be depositing cash or directly paying my bills with this kind of moolah, right?

  3. Thank you for bringing this up! I’m dealing with this issue right now – as I type this, I have a plastic baggie (CLASSY!) containing $2500 in a secret spot in my kitchen. I want to put it away to start a House/Condo Down Payment Fund, but I’m nervous about alerting my bank. On a sorta-related note, I’m also nervous about becoming too dependent on my allowance and being crushed if he yanks it away one day. (He hasn’t given me any signs that he’d do this – I’m just a worrier by nature.) I have a full-time, middle-class job and can support myself, but I have an SD because of the extras and the traveling that I cannot afford on my own. If you guys have any advice about how to keep my “distance” from the money, emotionally speaking, and enjoy the money while not becoming too reliant on it, do tell.

  4. Not many people realize this, but as of the early 90’s, money given to mistresses (i.e. sugar babies) are considered gifts and therefore untaxable income! Of course, if the government snoops around you still got to hire a lawyer to argue the precedent, so if you’d rather steer clear, by all means avoid depositing it. But personally I prefer to put at least some of it on my tax forms so they don’t wonder how I’ve afforded to live in the past year. http://en.wikipedia.org/wiki/United_States_v._Harris_(tax_case)

  5. I’m a CPA/sugar baby. 🙂
    Gifts aren’t taxable to the recipient- ever. You don’t have to be the least bit sneaky- ever. If you get audited, tell them- I have an older boyfriend who looks after me. No big deal. If your SD gives you more than $14,000 a year, he is supposed to file a gift tax return, but there’s no tax even then. If he hasn’t gifted millions (not including charity), then there will only be tax when he dies, and his estate should pay tax on the gifts over $14,000 he gave you. But whether they do what they should or not, it isn’t your problem.
    So be free! Unbanked no more!

    • Ladies, I have it all figured out!! I opened an account with my SD and he puts the money in the first of every month. Right away, all of my bills are paid with that money and if there are leftovers, I move it to my savings account that only I am on. This keeps me safe.

      Since we share accounts, it just looks like we are a couple and nothing else and no concerns for him or me.

      Good luck!!!

      • Amazing! I’m just getting started and have no idea how much to ask for in NYC! Does anyone know what the going rate is for a monthly allowance?

      • Golden goddess and AM- are there any legal repercussions from this? Can I be sued if anything goes wrong in our relationship? I’m new to this and trying to cover all the bases.

  6. AM- What if your SD is not filing taxes and is hiding your relationship. If the tax people asked, “who is this older boyfriend of yours?”, would I be screwed?

  7. Hello All – I really appreciate this site. I am new to the SD/SB world. I have met someone and we were both very business like in our first contact over the phone. He has been in this type of relationship before and spoke about financial arrangements and paying up front in cash.

    As Mel asked above – would paypal be an option, I have it as my roommate transfers money to me in this way. Would an SD be opposed to this arrangement?

    And I have to assume all financial transactions are done in cash?

    I really appreciate ALL your advice on this site and of the other SB’s

  8. Good topic! I don’t have a SD yet and am just now looking around for one but I do worry about where I’m going to put the money without it being suspicious. Any tips?

  9. Hello everyone! Instead of storing my cash at home or depositing it into my bank account, I actually rented one of those lock boxes at the bank.

  10. Everything i have read indicates gifts over 13G must be claimed by the recipient. I’m freaking out. I have received at times as much as 6G a month, a car, he is sending me money to pay an apartment upfront for a year so its in my name…its too much right? I don’t know what to do. I insist on things being set up so no rug gets pulled out from underneath me but like there has been significant activity on my paypal debit card….plus the gifts….what do i do????

  11. I was reading that a prepaid card was a good idea. That way, there’s less paper trail for us so that’s what I’m asking for. Any tips on which one to use? I’m looking at a little over 1K weekly and it needs to be easy for him to reload and me to check the balance on and transfer funds

  12. I started keeping track of all of my sugar paychecks, and all of my sugar expenses. A visit to an accountant was totally worth it, as he helped me get started as a small business owner. Yes, it means I pay taxes on the sugar I receive, but it also means that I can consider (some) sugar expenses as business expenses, and are thus tax deductible. It also means I pay into social security, and can freely deposit money without there being anything illegal.

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